Originally Posted by
chimoe125
...Anyways, I booked at the Wynn Encore hotel already but am considering changing now. I got the Parlor suite @ the Encore for $360 which is also astonishing considering they post $500/night on the website.
FINALLY the Luxury hotels are now starting to re-adjust their rates down. If I recall early/mid 08 they were still standard priced.
Wynn has stated that he will drop rates as low as he has to in order to keep occupancy at 90%. I've booked the smallest suite at the Encore for under USD 100 per night (list is USD 400 and they were asking for USD 240-300 in December). Wynn knows that there has to be a buzz for Vegas to be successful, and he'll make it happen. Looks like the other hotels are taking note of his success even now. They can be profitable even when the rooms are free; the room rate is mainly to keep out the riff-raff.