It's truly a coveted honor for a hotel or a resort to earn the five diamond treatment from AAA. Owners of these establishments on the verge of getting there will do lots of different things to make it over the last final hurdle. It's even more difficult for the Vegas mega resorts because of their size. Calibrating a 3,000-room resort to that goal is much tougher than doing it with a 300-room hotel, don't you think.
Regardless, the 4000-suite Venetian has finally completed its mission. It'll be awarded that long-sought distinction in next month's announcement from AAA. It appears word leaked out a tad early but for the Venetian staff it's all hand shakes and hugs for now. Once there, it'll be the largest hotel to accomplish that difficult feat.
Up until now the competition across the street, Wynn Las Vegas, has had an edge on the Venetian because it already enjoys the fruits of that honor. These two go pretty much after the same market segment, the high rollers, fine dining experts and the convention business, and this will mean the duel will only heat up. Isn't that what competition is all about?
Other properties in town who have previously reached the five diamond plateau are the Skylofts Penthouse Suites at the MGM Grand, the Ritz-Carlton at Lake Las Vegas, the Four Seasons and the Bellagio. I'd say rather distinguished company. All of them, of course, are now anxiously waiting for this year's results.
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Provided by:
Esko Kiuru
Mortgage, real estate and apartment industry analyst
www.BluefoxToday.com - syndicated mortgage, housing and property management blog
eskokiuru@gmail.com
My cell: 702-499-1006
Renee,
They sure are moving up in the world.
Tom,
It's a tough job for a 4000-suite property, no question.