The Vegas media hype is typically running amok regarding the Dec 15, 2010 opening of the newest Sin City resort project. The Cosmopolitan of Las Vegas  is set for a soft opening ( 2200+ rooms, roughly two - thirds of the total intended) in two days. Most of the media attention has centered around the monumental revenue mountain that the property has to scale in order to survive in the current mired Vegas economy. Many sources including the media, analysts, and MBA's are justifiably predicting seemingly insurmountable revenue shortfalls for the property in a city that already has a room surplus problem and a justified and widespread reluctance of visitors to spend discretionary funds in Vegas during the past three years. No sane individual would argue that the road ahead for this newest Vegas mega - resort will be rocky. However, as outlined in previous LVE articles ( linked below ), this project has endured massive problems since it's inception and it's survival to this point is already a monumental feat.

Deutsche Bank inherited the half - completed Cosmopolitan in 2008 and has continued to finance this project during an array of major redesigns, missteps, and lawsuits ( some still pending ) during one of the worst recessions in US and Vegas history. The price tag of the project at this point has been listed at $3.9 billion but that figure has been publicized for at least several months ; a regulatory filing in August 2010 listed an $890 million expected expenditure to cover final construction and furnishings costs, so $3.9 billion is likely less than the true approximate price tag. The bank's goal is to eventually sell the property according to a recent November regulatory filing.

Cosmo boss John Unwin has been expectedly upbeat about the property's opening and survival during the current conditions. Unwin has promised a unique experience and offerings that no other Vegas resort presents to potential guests. Those specialties include terraced rooms, three pools all located 100 feet above the Strip, new dining operators , and a guest - friendly rewards program. Early reviews of the property by a few members of the local Vegas media have elicited some positive comments and pleasant surprises. 

Many have questioned the survivability of this new property under the current Vegas conditions and the debt load. However, there has been an underlying bulldog mentality associated with this project up to this point when the history is factually perused. They've already accomplished a great deal and exhibited an admirable level of fortitude by still being in the mix. That said, the property still has to endure pending condo - buyer lawsuits that are presently mired in litigation proceedings. Several have stated in assorted media outlets that they are shocked that the property is even opening. With the leveraged investment involved with this project to date, it's arguable that they have no option and must begin to generate some revenue. The tenacity the group has exhibited to date leads one to back off immediately counting out their survival. There are 5000 new Cosmopolitan employees that certainly will be working hard to contribute to that survival ; those 5000 jobs are currently a big plus for Vegas in general considering the conditions.

The Cosmopolitan is located between City Center and the Bellagio on the west side of the Strip at 3708 Las Vegas Blvd. The hotel is sold out through the soft opening ( 15th - 18th) according to it's reservations site. The site lists rooms available from December 19th - 25th for lowest listed rates of $175 - $225 per night. Phone 702 - 698 - 7000 for complete and current info.

Good luck, Cosmopolitan.

Cheers...

Charles Higgins