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A Vegas Hotel is Reborn

The Palms, Las Vegas, reborn to the tune of $62o million

By Larry Olmsted

When the Palms opened in 2001 it was a game changer for the Vegas resort landscape, off the Strip but still packed with A-list Hollywood, pro athlete and celebrity appeal. The casino hotel was invention of the Maloof family, who have owned two NBA teams, the Houston Rockets and Sacramento Kings, and are now minority owners of the NHL’s red-hot Las Vegas Golden Knights. They focused on what they knew, hip marketing and celebrities, and the Palms Casino Resortquickly became an instant hot spot for the younger club crowd. In its first full year of operation it hosted a season of MTV’s Real World, and quickly became known for its lavish fantasy suites, including the only hotel room in the country with its own private basketball court.

But in recent years there have a been a spate of deep pocketed openings and renovations across the city, and record visitation by a more discerning global audience. So, with new competing luxury suite products, the Palms, now owned by large local operator Station Casinos, went back to the drawing board – to the tune of $620 million … continue reading

 

Award-winning travel journalist Larry Olmsted is the author of “Real Food, Fake Food.” He is a Contributing Editor to US Airways Magazine and Cigar Aficionado Magazine and “The Great Life” columnist for Forbes.com.

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