Palms kicks off new phase of $50 million upgrade

[Mike0476]

The Palms also spent $600,000 in renovations to its pool.

Immediately after the July Fourth holiday, the hotel will launch a remodel of all 428 rooms in its original Palms Tower, with completion of the $12 million project expected by September, he said.

"They are not your typical Las Vegas hotel rooms," Magliarditi said. "They have a little edge to them. The (design) of the rooms and suites came out incredible."

A renovation of some 253 rooms in the Fantasy Tower could begin in 2013, he said..

http://www.lvrj.com/business/palms-kicks-off-new-phase-of-50-million-upgrade-157424775.html

 

[Section 101]

http://www.lvrj.com/business/palms-kicks-off-new-phase-of-50-million-upgrade-157424775.html

So your saying they weren't done right the first time?

 

[ParniValjak]

Well, the Maloofs sure as hell a not funding it as they own only 2% of the darn thing

 

[kennadog]

George manages the Palms, but remember, the Maloofs have a miniscule ownership interest in the Palms now.

 

[ParniValjak]

George manages the Palms, but remember, the Maloofs have a miniscule ownership interest in the Palms now.

Yeah 2% which if you split up the cost of renovations by percentage, is roughly about the cleaning bill!

 

[Capt. Factorial]

So your saying they weren't done right the first time?

Dammit, Jim, I'm a developer, not an interior designer!

 

[Section 101]

dammit, jim, i'm a developer, not an interior designer!

Great one

 

[upinsmoke]

http://www.lesliespool.com/Shop

This stuff gets expensive George.

 

[Spike]

Maloofs will probably pull out because they want a new casino instead of renovating the old one.

 

[Capt. Factorial]

Maloofs will probably pull out because they want a new casino instead of renovating the old one.

The Maloofs would more likely pull out because the deal was a bad one for the city of Las Vegas. The deal could be made better for Las Vegas by asking the city to contribute the full amount of the renovation, and to provide the Maloofs a loan without any collateral.

 

[pdxKingsFan]

So your saying they weren't done right the first time?

I know we love to rip them, but this is the original tower, what killed them was the expansion. This is just sprucing up everything, LCD tvs, updating the furnishings, new paint and probably complying with any new accessibility and safety codes blah blah. A necessity in the business. When my family sold our hotel business one of the properties had been remodeled within 10 years but was already deemed "out of date" by many buyers.

 

[SacTownKid]

Maloofs will probably pull out because they want a new casino instead of renovating the old one.

He has a point though, it looks like it could be a bad deal for both the city and the Maloofs. George's vision revolves around the idea of combining the ash tray and drinking fountain into one single unit, it will save a lot of money apparently.

 

[kennadog]

Dammit, Jim, I'm a developer, not an interior designer!

Love it.

 

[Peter_Gibbons]

Business has dropped off at the Palms in the recent year. A big part of that is because almost all the casinos on the strip either just finished or are in the process or renovating their rooms. People rather stay at newer rooms. The Palms is 11 years old and they must renovate to compete.