Coldwell Banker Premier Realty

A visit to the Cosmopolitan


This will be the newest thing for a long time...
Posted: January 03, 2011 by John McClelland

Cosmopolitan opened on the 15th of December and I finally made it there yesterday. The property cost $3.9 Billion and has 2,995 rooms. This is actually a significant increase in the available room supply on the strip. The word about employment that we are hearing is that the property has about 5,000 employees. That’s about 1.6 employees per room, down from the 2+ figures we used to hear about in the upper-end resorts. It is very likely that recent economic strains have caused firms to automate more tasks and streamline other processes, eliminating a lot of labor. While I did not stay at the hotel, I was on the gaming floor and service was very good so my anecdotal evidence suggests labor is not spread too thin.
The real story in this project is the nightlife. There are a variety of very solid bars and lounges with good cocktail offerings and an atmosphere that perpetuates the partying vibe. The décor is goes from contemporary cool to unique, avant-garde. The property is known principally for its large chandelier. This is a pretty neat design and envelopes a stylish bar. I like the pictures of Las Vegas classics like Frank Sinatra and other “Rat Pack” figures as the property reflects on a long Las Vegas heritage of premium entertainment and very spirited partiers. This appears to have attracted a fairly young crowd. Most of these folks were well dressed and stylish, along with a few more seasoned visitors. Of course there are always a few “Jersey Shore” looking types but we can’t get away from them even in the nicest of properties.
I think the Cosmopolitan is a very welcome addition to the strip and it’s great to see a new project come on-line. I don’t think we will see one for a long time as we absorb all of the recently added capacity delivered in the past couple of years. Visitor Volume to Las Vegas has been improving, a welcome sign after a really harsh 2009. Hopefully these seeds of recovery grow into greater gaming revenues, which is ultimately one of the single most important drivers of profits for our chief industry.

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