The hard rock Hotel and Casino as well as the Planet Hollywood Hotel and Casino are continuing to expand even through the difficult recession. These hotels are trying to maintain their customer base and draw in new customers all the while trying to streamline their casinos. Are the reason for this newly created expansion was due to the opening of a new megaplex hotel and casino resort, The CityCenter.
The CityCenter as added nearly 5000 more rooms to the Las Vegas skyline providing any more opportunities for gambling tourists to choose which resort they will stay. Now, the hard rock Casino and Hotel and Planet Hollywood Casino and Hotel and expanded one hour each which will add another 1575 rooms to the market. Within the past couple of years the recession has affected these companies and there has been an overabundance of rooms in comparison with the number of gambling tourists that are traveling to Las Vegas. The struggle will now continue as nearly 7000 more rooms have been added to the Las Vegas skyline.
The addition of these new rooms will now add more competition between the companies and cause them to lower their roommates and offer Casino incentives in order to draw in the gambling public. As of right now, the two hotel and casino companies are banking that these new towers will add to their future growth and provide new opportunities for gambling tourists on the Las Vegas strip. The only issue that will pop up with these companies is lowering their rates below the level that they are able to make a profit. These companies have been in the Hotel and Casino business for a long time so they feel they are justified in creating these new towers, however many of their competitors are already closing their doors due to the low occupancy rate caused by the slowing economy.
