{"id":84,"date":"2009-06-03T15:11:00","date_gmt":"2009-06-03T19:11:00","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/blogs\/dmckee\/index.cfm\/2009\/6\/3\/Feel-better-Las-Vegas"},"modified":"2009-06-03T15:11:00","modified_gmt":"2009-06-03T19:11:00","slug":"feel-better-las-vegas","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/feel-better-las-vegas\/","title":{"rendered":"Feel better, Las Vegas"},"content":{"rendered":"<p>You could be <strong>Phoenix<\/strong>. A reader shared with me a <em>Wall Street Journal<\/em> article on the cratering hotel market down there. (No link, sorry.) Occupany hit <strong>58%<\/strong> in April, far worse than anything Las Vegas has seen. (<strong>J.P. Morgan<\/strong> forecasts 80% Strip occupancy in July.) Also, there are concerns about the addition of 1,900 rooms to a 56,000-room market. Hell, <strong>Aria<\/strong> is going to add almost twice that much inventory to the Strip all by itself.<\/p>\n<p>In the past five months, <strong>W Scottsdale Hotel &amp; Residences<\/strong> has been put into foreclosure, <strong>InterContinental Montelucia Hotel<\/strong> has been sued for default, <strong>Pointe South Mountain Resort<\/strong> missed its mortgage payments and <strong>Wigwam Golf Resort &amp; Spa<\/strong> filed for bankruptcy. In one case, the amount of money in dispute is $82 million &#8212; pocket change compared to Las Vegas, where you can rack up billions in construction debt before anyone gets worried.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>You could be Phoenix. A reader shared with me a Wall Street Journal article on the cratering hotel market down there. (No link, sorry.) Occupany hit 58% in April, far worse than anything Las Vegas has seen. (J.P. Morgan forecasts &hellip; <a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/feel-better-las-vegas\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[109,14,11,9],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/84"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=84"}],"version-history":[{"count":0,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/84\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=84"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=84"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=84"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}