Looks like resorts planning for extended slump
If you believe the adage about putting your money where your mouth is, it looks like Las Vegas resorts are betting on an extended slump.
Officials at the World Market Center downtown are welcoming delegates to the 2009 winter market with a pitch to come back to the September session.
The striking part is the ridiculously low prices attendees are being offered for hotel rooms.
Nine months out, the rates at the Sahara are $29 for weekday and $65 for weekend stays.
Caesars is $180 on weekdays and Bellagio $165.
If hotels are willing to part with rooms at such low advance rates, at least in comparison to recent years, it means they probably don't think the rooms will fetch much more on the open market at that time.
