Thursday, June 03, 2010

Tropicana to go with Miami Beach Theme

Details of the Tropicana renovations continue to trickle in.

Recent developments revealed that the hotel will be aiming for a South Beach Miami motif. The finished product scheduled to be complete by 2011 will include a Gloria Estefan inspired show and the Nikki Beach club.

Doing some quick and probably inaccurate math, I calculate that the Tropicana would need to command about a $30 per night room rate increase over the next 10 years to equal the cost of the $165 million renovation. That should be attainable. If they are getting an average of $50 a night now (just a guess) for an outdated room, it shouldn't be that hard to get $80 for a brand new one. And this isn't even considering added gaming and other revenue which is bound to increase with a higher end clientele. I've said it before, but good move by the Trop, and I hope it works out well for them.