Originally Posted by
craigthemif
I know the owners of the Rio will feel that they have to try something, but if the failed experiment of the W / SLS shows anything, it's that chain brands are irrelevant unless you have a prime location on the Strip or are close to the convention centre...
Smaller conventions that are based in a single hotel are big business. If the folks running this new venture pay to hire top notch salespeople and back that up with a great operations staff, they might do well.
Here's an example of how the Rio could be marketed to companies and professional organizations looking for space:
Originally Posted by
TravelFu
Stayed at the Rio several years ago for a work convention. They have some seriously large rooms even in the lower price points like what my work booked everyone into. I've stayed at some other hotels on the strip since then and I can't honestly say I've been any more comfortable with the exception of the time I got upgraded to a huge suite at the Paris with a bathroom bigger than my first apartment. I'll probably go and stay at the Hyatt Rio or whatever they decide the name is for those benefits as long as they still have the free shuttle to the strip.
Also, don't underestimate the value of Hyatt's National Sales Team. I don't know if those people are pushing clients towards MGM properties, but I would imagine they are not. Having a Hyatt-branded meeting space in one of the most well-known cities on the planet could be very profitable.
If the Hyatt National Sales Team is aggressive in promoting this new venture, they might be able to book several large groups annually. Many professional organizations will rotate their national meetings through high-profile locations. Being able to add Las Vegas into the mix while still dealing with Hyatt might be appealing.
Or, this venture could be a disaster like the Sahara. The devil's in the details.