The bottom line is (Earl) will have a greater number of rooms with people who'll add cash flow without added costs and drive cash flow. And he'll gets to do it all with other people's money rather than his own.
George is one of the best at creative marketing. I'll bet in six months he comes up with three new different ways to use the suites.
In order to make it cost-effective, they're gong to have to connect it to the airport.
There will be tough competition for workers in 2008, (200)9 and (20)10 and this gives Echelon a really good edge in attracting the very best employees.
For some guests, just getting close to that celebrity thing and the possibility of seeing the suites is enough to bring them to the Palms.
The Palms caters to that unique, California customer who is young, wealthy, and can afford to play enough to warrant that incentive.
And look at the room growth. Capacity isn't enormous given the weight of baby boomers who have more time and money than anyone ever before. This is Las Vegas' sweet spot. And most of them won't even start turning 65 until 2014 so Las Vegas has a good eight years of benefits from that trend.
This is absolutely imperative to the continued growth of Las Vegas. Without such a mode of transportation, major arteries will continue to clog, and the ability of Las Vegas to grow will be difficult.