Trump Tower opens in Las Vegas
The Trump Tower opened this week here in Las Vegas. It’s the Donald’s first venture into the Vegas valley. He’s been quite successful in Atlantic City and has wanted to be in Vegas for a long time.
Unlike his East Coast properties his tower here is only condos. There’s no casino on site. It’s a concept called “condotel” where you own the unit but rent it out when you’re not using it.
In typical Trump style it’s been designed as a luxury destination. The whole outer glass is a shiny gold and really gleams in the daytime sun. There’s a spa, pool and coming later a high end restaurant.
But here’s the rub. As some have pointed out (and I agree) there’s some down sides. Yes it’s beautiful place, but…
1. There’s no casino. It’s just rooms and the usual amenities. Which leads to…
2. It’s in kind of a bad location. Yes you can see it from the strip. But it’s not ON the strip. The closest casino (ironically belonging to Trump’s rival Steve Wynn) is about a half-mile away. All that’s really close is the Fashion Show Mall.
3. The rate is estimated to be $350 a night. That’s a LOT to stay at a place with no casino, no shows, and no restaurants. You can easily find a room on the Strip under $100 if you look around.
Time will tell if Trump’s place will work in our market. He does have plans and the financing for a second tower though.
My opinion? This is just his first venture here. He’s had success in Atlantic City and had long wanted to be in Vegas as well. Plus add in his rivalry with Steve Wynn & I’m sure we’ll see more of Donald Trump in the future.
Filed under: Real Estate, Vegas
[…] Money Advice Guide wrote an interesting post today onHere’s a quick excerpt The Trump Tower opened this week here in Las Vegas. It’s the Donald’s first venture into the Vegas valley. He’s been quite successful in Atlantic City and has wanted to be in Vegas for a long time. Unlike his East Coast properties his tower here is only condos. There’s no casino on site. It’s a concept called “condotel” where you own the unit but rent it out when you’re not using it. In typical Trump style it’s been designed as a luxury destination. The whole outer glass is a shiny gold and r […]
The second tower has been placed on hold and I have heard many complaints about Trump Tower so I doubt his project is doing as well as he had hoped! Trump is no Steve Wynn, everything Steve Wynn touches turns to gold and correct me if I am wrong but I don’t think Steve Wynn has ever filed for bankruptcy?