Although it will be putting its noble name to on the soon-to-be-ex-Centurion Tower at sprawling Caesars Palace, Nobu Hospitality will only pony up an (unspecified) portion of the (unspecified) cost. Actually, the Associated Press and Las Vegas Review-Journal differ on this but I’m giving Caesars Entertainment the benefit of the doubt that it’s making Nobu shoulder at least part of the burden. However, Nobu sure got the better end of the deal. Caesars will be the one managing the hotel and carrying its staff on payroll. (Existential question: Is “a non-binding letter of intent” worth the paper upon which it’s written?)
In essence, CEO Gary Loveman is renting the Nobu brand and largely footing he bill. With his company hemorrrhaging red ink, it seems to defeat the purpose of bringing in Nobu if the latter scoops up the cream of the guest crop while Harrah’s Caesars pays the freight. Isn’t the point of having joint-venture partnerships to lighten one’s financial burden? Me, I can’t wait for the upcoming Roman/Nipponese fusion theme … sort of Gladiator-meets-Memoirs of a Geisha. Are we not entertained?
By the way …
Is this how we ended up with the backwardly conceived Las Vegas “Monofail”? Considering the amount of gullibility required to make the project happen the way it did, I’d have to say, “Yes.” Who needs civics class when you have The Simpsons?
(Thanks to readers Howard Park and Greg Askins for timely linkages this week.)
I don’t really see the value in this. Do you get a ride over the the Hard Rock to dine at Nobu???
The Las Vegas Monorail should have originally been built starting at the airport and then heading north towards the Strip. Then it would have been successful. The way it turned out was a disaster. Very good article by Steve Sebelius and George Knapp.