A Romantic Valentine’s Day in Las Vegas
Las Vegas is definitely a city for lovers with so many romantic restaurants, sexy shows, luxurious hotel rooms, wedding chapels, nightclubs and bars. For all you couples out there finding romantic things to do on Valentine’s Day in Las Vegas should not be difficult at all. If you are going to be in Las Vegas this weekend, plan your events in advance to ensure that your romantic evening runs smooth. Whether you take in a romantic meal, see a show, or head out to the clubs, Las Vegas will not disappoint you lovers out there.
Here are a few things to keep in mind and some ideas to help you have a truly memorable Valentine’s Day 2010 in Las Vegas. Plan ahead as couples from all over the world come here to celebrate on February 14th things get filled up quick. Everything from hotel rooms, flights, wedding chapels, shows, will all be in high demand so if you haven’t booked yet, get on it. This is one day you have to make dinner reservations. If you are going to any restaurant on Valentine’s day either book ahead of time or be prepared to wait in line for a very long time.
These are some recommended Las Vegas restaurants for Valentine’s Day dining such as, the Le Cirque at the Bellagio. This AAA Five Diamond Award contemporary French restaurant is matched only by the intimate, jewellery box setting. You will feel the romantic atmosphere in the hushed tones of the room and as long as you are not concerned about the price tag this restaurant delivers the goods. Another French setting can be found at Fleur De Lys in Mandalay Bay. An eclectic menu and a spectacular setting best describes Fleur De Lys. The amount of flowers on the wall makes this place perfect for the romantic meal in Las Vegas and French food will set the mood for the rest of the evening. Dine 800 feet above Las Vegas Blvd at the Top of the World Restaurant and Lounge at the Stratosphere. This restaurant revolves around 360 degrees every hour, so that you get a breathtaking view of the entire valley if you stay long enough. The food is good and the atmosphere is conducive to celebrate this romantic special occasion.
Valentine’s Day 2010 falls on a Sunday, which means lots of wedding bells. What could be more romantic or memorable than a Valentine’s Day wedding in Las Vegas? Known as the Marriage Capital of the World, Las Vegas has long been a destination for those looking to tie the knot quickly and with ease. Iconic spots such as the drive-through altar at the Little White Wedding Chapel and the Graceland Wedding Chapel are must-sees on the Vegas map, whether or not vows are in your plans. Weddings are the second-largest industry in Nevada and there are no shortage of chapels in Las Vegas, but Valentine’s Day is very busy at most chapels so pick a chapel and make reservations as soon as possible. Remember most major Vegas hotels also have wedding chapels.
Largest Single Year Decline in History for Gaming Revenues
Gaming revenues in Nevada fell 10.4 percent in 2009, the largest single year decline in state history. Casinos state-wide collected almost $10.392 billion from gamblers during the year, the lowest one-year total since 2003 according to the Gaming Control Board. Last year, gaming revenues totalled $11.6 billion state-wide, which was a decrease of 9.7 percent.
Directly related to the drop in gaming numbers, Las Vegas has suffered from a decline in visitors since a recession hit the country. The Las Vegas Convention and Visitors Authority reported the city had 36,351,469 visitors last year 3 percent decline compared to 2008. Good news for travelers, the average daily room rate for 2009 was $92.93, which was a drop of 22 percent compared to a year earlier. With a decline in people visiting Las Vegas, casinos are experiencing a lot less people gambling. Not to mention with the amount of foreclosures, less people are living in Las Vegas affecting the local gaming market.
Room inventory finished the year at 148,941, which was a 6 percent increase in the number of rooms over the past year. The average occupancy rate was 81.5 percent last year, which was down 4.5 percentage points from a year earlier. Also convention attendance was down 23.9 percent last year, while the number of conventions was down 13.6 percent. The numbers weren’t all bad a trend of increasing visitor numbers continued into the December, according to numbers released today. Las Vegas had 2,780,648 visitors in December, which was up 1.5 percent compared to December 2008
Although the numbers were down, there were people still gambling. On the Strip, casino revenues were $5.5 billion, a decline of 9.4 percent compared with $6.12 billion in 2008. Gaming revenues in Clark County as a whole fell 9.8 percent to $8.8 billion. North Las Vegas reported revenues of $286.2 million, a 1.2 percent jump compared with $282.7 million in 2008.
Gaming tax collections for December were $33.5 million, a 6.7 percent decline compared with $35.8 million collected in the same month of 2008. For the first seven reporting months of the fiscal year, gaming tax collections are $346.6 million, a 5.25 percent decline from the previous fiscal year.
Las Vegas Starts 2010 with a Saturated Housing Market
The continuing trend of strategically defaulting on a residential mortgage will hurt the Las Vegas housing market in 2010 more than it will help it. Although more houses are being moved, more people are falling into foreclosure and housing prices continue to drop with no signs of an end. Realtors sold 2,608 single-family homes in Las Vegas during January, a 17.3 percent increase from the same month a year ago. The median price dropped 15.7 percent from a year ago to $134,925, though it’s down only 0.8 percent from the previous month. Inventory decreased 10 percent from a year ago to 19,742 listings. Taking out pending and contingent sales, or homes that are under contract, the number is reduced to 8,107 available units.
Inventory is at a high level because of foreclosures and shows no sign of lowering any time soon. The demand doesn’t exist in Las Vegas to absorb the supply of homes on the market through this year and most of 2011.The beginning of the year is looking a lot like the end of 2009, with home prices in double-digit decline from year-ago figures and sales posting double-digit gains.
One of the more promising trends in January was the continued increase in short sales and a decrease in sales involving foreclosed homes. In January, 21.1 percent of all existing homes sold were short sales. This suggests that lenders are more willing to work with homeowners and work out short sales as an alternative to foreclosing on homes.
The extension of the First Time Home Buyer Tax Credit has also impacted the market in a positive way. Home buyers now have the opportunity to take advantage of the credit for another three months. It looks fairly evident that the Las Vegas housing market will struggle in 2010 as it faces more price declines and a growing number of foreclosures. For a state that has the second worst unemployment rate in the US watch for prices to fall even more throughout the year.
Closing the Ritz-Carlton at Lake Las Vegas
The closing of the Ritz-Carlton is the latest in a string of troubles for the Lake Las Vegas 3,600-acre resort community, which is built around a 340-acre man-made lake. Employees of the Ritz Carlton at Lake Las Vegas were informed that in less than three months, they’ll abruptly be out of a job. The Ritz Carlton says of all of its 73 hotels, there is no question that their resort in Henderson has been hit the hardest by the economic troubles of late. Located just 20 miles from the Strip, Lake Las Vegas has been a popular vacation spot for many looking to get away from the action of Sin City.
Transcontinental Corp. opened the 349-room hotel in 2003, but Deutsche Bank took over ownership of the property last year through an affiliated company called Village Hospitality and decided to stop funding the resort.”Our owners, Village Hospitality, decided they could no longer fund the hotel,” said Ritz-Carlton spokeswoman Vivian Deuschl. “As a result of that, we can no longer operate the hotel without adequate funding.” This is some disheartening news for about 350 to 400 employees will be out of work as a result of the closure. However, Deuschl made it clear that efforts are being made to relocate them to other Ritz-Carltons, Marriotts and other hotels in the Las Vegas area.
The Ritz-Carlton is one of eight Southern Nevada hotels with AAA’s highest five-diamond rating for 2010. The Ritz-Carlton Hotel Company is an independently operated division of Marriott International who stated that it will remain fully operational until the May closing date. Deuschl went on to say, “We have asked employees to stay on until we can serve our last guest in the type of manner that a AAA Five Diamond hotel is expected to deliver, while they are obviously sad, they took the news with a commitment to continue to serve guests until the last day and we are very proud of them.”
Individual travelers and groups who have booked past May 2 are being notified about the recent news and the Ritz-Carlton is working with them to relocate their business to other hotels. This closing is just the latest setback to the Lake Las Vegas development which remains in bankruptcy with $728 million in liabilities and debt. The hotel has two restaurants and a spa, but two of the golf courses at Lake Las Vegas have been shut down during the luxury community’s Chapter 11 bankruptcy proceedings. It’s possible that this property gets re-branded and re-opened to a Marriott or something similar. It’s a beautiful property and way too nice to go to waste. The reality is that high-end hotels are not as much in demand as mid-priced family hotels, it’s time to adapt to what people want.
New Orleans Saints Win Super Bowl, Vegas Benefits from the Game
Watched by more than 106 million people, Super Bowl XLIV was the most-watched program in television history. The game proved to be another exciting championship, but instead of seeing more magic from Peyton Manning, we watched as the Super Bowl took a surprising twist. Manning was far from magical while Brees and the Saints, who posted 20-1 odds to win the Super Bowl in August, played the underdog role perfectly. It was a fall from grace for one of NFL’s favorite quarterbacks, while it was the rise of Drew Brees, and the return of the New Orleans Saints. The Saints gambled and won on a recovered onside kick, they scored on an interception return and they leaned on a mistake-free Brees to upset the Indianapolis Colts 31-17 on Sunday in Miami.
The biggest betting weekend of the year was a win for Las Vegas because there’s was a party all over the city as restaurants were full, bars were full and of course the casinos were full. With an estimated 30,000 more visitors compared to last year hotel occupancy rate is up to 83 percent, which is 6 percent higher. This means roughly $90 million was made in Las Vegas in non-gaming revenue alone.
Despite an early wagering rush on Indianapolis, results were mixed at Las Vegas sports books. Initial action on the Colts drove the opening line from 31/2 to as high as 6, but most of the late money showed on the Saints as the line closed at 4 and 41/2. A high volume of money-line bets on New Orleans to win straight up at about plus-180 (wager $100 to win $180) cut into the books’ profits. Also a proposition wager that hurt the books, paying off about plus-500, was on a successful two-point conversion and Brees passed for one.
The largest reported wager yesterday was a $2 million money-line play on Indianapolis, and it looked good when the Colts went up 10-0 in the first quarter. Spot 10 points to Manning and you would expect to be cashing in, but driving to try to tie the game with just over three minutes remaining, Manning was intercepted by Tracy Porter, who raced 74 yards to secure the win for the Saints and their bettors. The state-wide estimate for gaming revenue is eighty to eighty-five million, but numbers won’t be finalized for a couple days yet.
Aside from the betting, the Super Bowl is the center stage for companies trying to win over consumers with their commercials. Betty White plays football, babies talk about “milkaholics” and a house made of Bud Light cans make audiences laugh throughout the game. Amid the humor Sunday night on CBS, advertisers such as Anheuser-Busch and Coca-Cola also put the focus on their products. Not every commercial was strictly humorous as automaker Toyota aired several ads before and after the game to reassure worried owners after its recalls connected with accelerator problems. Advertisers pay dearly for the airtime from $2.5 million to more than $3 million per 30 seconds.





