Contrary to repeated assertions by J.P. Morgan, it would appear that MGM Mirage is putting out promotional specials for Bellagio … and very aggressively so. Note however, that Steve Wynn's masterpiece is maintaining its price point and Aria is the one having to come down to meet it.
Also, an unscientific survey of mid-week rates parallel to Aria's opening shows that what the CityCenter flagship is doing is sucking the air out of the rest of the Strip, especially other MGM properties. Even Wynn Las Vegas is down to $159/night that week (quotes were predicated on a three-night stay).
The absolute bargain was Downtown's Golden Gate ($12.71) and unless you count Hooters and fellow bottom-feeder Wild Wild West, the lowest on-Strip price was $21.21 at MGM's Circus Circus. The Sahara ($22.40) and Imperial Palace ($25) were close behind. They were ever-so-slightly outpriced by the Riviera ($27) and Tropicana ($29.33).
As for other properties in the lion's den: Excalibur ($31), Luxor ($48.37), New York-New York ($50), Monte Carlo ($58.62), the Green Monster (aka MGM Grand, $70), Mandalay Bay ($72.55), The Mirage ($76.50), THEhotel ($93.29), Vdara ($109) … with only the Green Monster's Sky Lofts ($600) outpricing Aria.
So, MGM, are you sure this oligopoly business model is the way you want to go? I'm just askin'.
<crickets>
