sc flier

Because the aloft and element hotels that are planned for Vegas are not ready yet.

The W Las Vegas project fell through for a number of reasons. The main problem is that construction prices have skyrocketed in Vegas even more than in other places. So have land values, and the owners could choose to resell the land and make a hefty profit without even ever starting a building. OTOH, I think that land is going to be the key to a big expansion off the Strip, and something will show up there eventually. Starwood itself had a relatively small stake in the project -- 15%, IIRC.

The competion for pulling off a successful condo hotel project is intense -- especially with MGM Mirage's huge $7.4B CityCenter.

If the Planet Hollywood Towers are ever completed as planned, their rooms might likely end up as part of PH hotel inventory or at least managed by the PH staff. I'm not aware of any direct financial investment that Starwood has in this project; it's owned by Westgate.

Down on the west side of I-15 directly opposite the Mandalay Bay, there's a large tract of property that could potentially get a Starwood tie-in. I'm not sure exactly who owns this land -- Starwood, Starwood Capital, Westgate, or someone else.

Years ago, the site of the Wynn was owned by Sheraton ITT. This was the site of the original plan for a PH casino resort. Back in these threads somewhere I have posted links to photos of the celebrity groundbreaking ceremony.

Also years ago, Sheraton had a stake in Caesar's. I'm not sure exactly why they got out of that deal, but it was probably a good decision at the time. (They still market the Poconos resorts, though.)

IMO, Starwood and SPG are not set up well to compete in the casino market of Las Vegas. They have chosen to take a pretty major stab at trying to make a name for themselves in Macao, though.

If you want to read more theories and learn more about the Vegas market, check out http://www.vegastodayandtomorrow.com/ and FT's own Las Vegas forum.