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How You Go Broke in Las Vegas
By Jay Rankin
Rankin's the expert. A former probation officer, family and addiction counselor, and television host with an advanced degree in psychology, he worked the graveyard shift as a doorman at the 5,000-room MGM Grand hotel for six years. His book tells the true story of this turbulent period in his life. Rankin has an insider's view of two worlds: the flashy, electric exterior of the Las Vegas strip, and its gritty, secret infrastructure. Surrounded by hordes of ferocious revelers whose singular goal was to push the line, Rankin battled nightly for his sanity and his safety. "Watanabe's case seems sensational because of the money lost," says Rankin. "But it happens all the time. Step back. Look at the marketing. It's brilliant: the lights, the shows, the food, the entertainment, the rooms, and the views...the temptation of winning big, getting laid, and doing drugs. "The whole atmosphere is carefully constructed to address all groups and ages and cultures," he adds. "You don't have to be as rich as Mr. Watanabe to get in over your head." Read on as Rankin explains the strategy behind Sin City's allure. The sheer excitement draws you in. If you've been to Vegas, you know its intensity. The colors are vivid. Sounds bombard you. You're surrounded by crowds of diverse people. You might be sitting near a group of beautiful women having a "ladies' night" out on the town, or you might be mingling with a celebrity at a bar. It's impossible to be bored in the midst of all of the spectacle and pageantry. The Best is at your fingertips: the best restaurants, the best shows, the best parties. "Las Vegas throbs with action and anticipation," Rankin says. "The atmosphere makes visitors long to be part of the 'in crowd.' They'll do whatever they believe will land them in the VIP room or the winner's circle." Forget about boundaries. Think about it: In your hometown, you act in a certain way, and you abide by specific rules. Your place in society is defined by obligations—to your family, your employer, and your friends. Not so in Las Vegas. It's a city where the impossible is within reach. "The allure of Vegas is that there are no boundaries," Rankin says. "No clock, no last call, no line in the sand. You can do what you want, when you want, with anyone you want. You're free to stay out all night and bet your last dollar. You can indulge in your fantasies without repercussions, and it's almost impossible to resist. Vegas is designed that way for a reason, and it's true—what happens in Vegas really does stay there. Unfortunately, the consequences of indulging in your wildest desires haunt you long after the thrill is gone. Mr. Watanabe is a prime example." The city is alive, 24/7. Las Vegas doesn't sleep. You'll find as much to do and see at 4 a.m. as at 10 p.m. The neon night shines on. Casinos and clubs jack up the glitz. Beautiful people and big betters make dazzling appearances and place outrageous bets. "The spectacle alone makes you want to stay up and take it all in," Rankin says. "If you're enjoying yourself, if you're flirting with a beautiful woman, if you're convinced that the next hand is yours, then why stop? No one makes you leave. No bartender puts out a last call. You can party until you drop from exhaustion or blow every last cent you have." Vegas builds the hype that anyone can win. It's true; anyone can win at roulette, poker, slots, and any number of games. The possibility is the impetus to keep you betting, no matter how badly the game is going. Vegas hypes the "almost" factor. "You almost won that time! So close! Play just one more hand." Often this prodding comes from fellow guests, not the casino employees. Everyone is eager for the next big win. "Go to a table that's hot and look into people's eyes," Rankin suggests. "Most of the players won't be coolly calculating whether they should stay or walk away. They'll rush into the next hand, mesmerized by what they could win. After all, when will they feel this tantalized again? Study the people playing slot machines. They'll sit for hours. If they win a jackpot, many will give it all back. The hotels know all this and are continually updating their casinos to make them more exciting and consumer-captivating—a place where you can see yourself making it big." The comps are spectacular. Vegas, says Rankin, invented the comp. Harrah's offered Terrance Watanabe V.I.P. perks, such as a three-bedroom suite at Caesars, seven-course meals while he gambled, and tickets to see the Rolling Stones. "If a player of this caliber is not happy, he will walk across the street and play at another casino," Rankin points out. "So it's well worth a hotel's investment to make him feel like a king. Hotels answer to shareholders, and they actively compete for high rollers. It's well worth the comp of a $1,000 bottle of champagne to keep someone who's betting thousands more in his chair." Everyone could be a V.I.P. Everyone in Vegas is wooed by the possibility of V.I.P. treatment. Sure, all guests are treated well, but if they bet enough or win enough, they'll be waited on hand and foot. Think about it: You see an average joe win the jackpot. Suddenly, he's treated like royalty. And you think to yourself, That could be me. Your compulsion to win grows, and you'll keep playing. "It's all about putting the forbidden within the customer's grasp," explains Rankin. "Hotels go to great lengths to make visitors call their casinos home, and they'll do anything so players will return and bring their money with them. If that means offering a free drink or a personal handler, so be it. Everyone wants to feel important. "As a hotel employee, I saw how pervasive this please-the-guest culture is," he adds. "When I was a doorman working the 2 a.m. cab line, I was ordered to keep my mouth shut, even when threatened with verbal abuse and physical violence. In Vegas, both of those behaviors are commonplace. No matter what, though, my position was always on the line—the guests would not be thrown out for anything but the very worst behavior." Note: See attached tipsheet for more details on how casinos attract and keep guests. The booze is always flowing. Alcohol is available just about everywhere in Vegas. No matter where you go, a cocktail waitress might be at your elbow, offering or refilling a drink. And it's not just booze. Drugs are for the taking. Scoring them might not be legal, but in most cases, all you need to do is ask the right people. "The effects of drugs and alcohol on decision making are devastating," Rankin points out, "but casinos will keep serving you as long as you're coherent, as long as you seem to know what you're doing. It's up to you to know when to stop, and most people have difficulty tapping into self-discipline in the midst of the strip's addictive environment. Unless you're out of control, hotels and casinos are not responsible for your bad decisions." "Las Vegas is not about being smart," says Rankin. "It's not about making good decisions or knowing when to stop. And it's not meant to be. Most of Vegas's attractions—gambling, having sex, drinking, getting high—are slippery slopes. One step over the line leads to another and then another. Pretty soon the only thing that can offset the guilt and panic is seeking out those thrills again. It happened to Mr. Watanabe, and to a lesser but no less devastating extent, it happens to hundreds of everyday people all the time." # # # 2010 Latest Travel Tips From Suzanne Files
Ski, sun, eat well, breathe in fresh alpine air, and bring the kids to Lech, Austria—it's stunning. The chic Aurelio Lech ski and spa lodge is one of my favorite hotels anywhere! Enjoy a romantic weekend in East Hampton. Stay in the lovely Carriage House of The Baker House, close to town. Cozy up by a log fire, walk on the beach & enjoy superb restaurants. Plan a family & friends Spring holiday in Puglia, Italy at Masseria Torre Maizza. The owner, Vittorio, coordinates wonderfully stylish parties, great for a wedding or special birthday. Rent the gorgeous & stylish Elsewhere Villa in Barbados where I stayed with friends last March—stunning views, fabulous cuisine and total serenity. Support far-flung communities and leave a place better off than you found it with these forward-thinking organizations which will help you plan an exotic vacation that keeps on giving. Rio De Janerio Hotel Buried in Mud Slide At Least 32 Dead So Far and Many Unaccounted
"It is a vision of horror," said Rio's deputy governor Luiz Fernando Pezao told CBN radio, "a mountain of rocks and trees covering various homes." The Hotel Sankay was full to capacity with about 40 guests bringing in the New Year at the idyllic getaway perched on a jungle-covered hillside, authorities said.The nationalities of the deceased were not immediately known. Officials said dozens of people were still missing and believed buried by landslides, set off after rain began inundating the region at midweek. "Eleven bodies were pulled from the wreckage and three more were found in the water," the government said in a statement, as rescue workers continued to comb the rubble. Hotel Rates Plummet As Even Lady Gaga Tries To Help Maimi Hotel Rates Are on the Rocks
The night will be a bright spot in an otherwise challenging year for South Florida hotels. Although bookings in Miami rose slightly for the first time since the financial crisis began in 2008, the increase was small—1.3% between July and October—and didn't make up for the 2.5% decrease in the four months that proceeded it, according to Smith Travel research. Increased demand also does not necessarily translate into more profits since many hotels will have to continue to discount rates in order to fill beds, a Miami Herald article says. Still, many hotels are putting on their poker face and looking to New Years parties for a needed boost ahead of 2010. New York's Hotel on Rivington has sold more than $150,000 in tickets for its party with Josh Madden and Cobra Starship. Beleaguered Las Vegas hotels will see cash from Christina Aguilera's party at Tao in the Venetian and 50 Cent's throwdown at Pure in Caesars Palace. The duds? Reality star Brody Jenner's fete at the Gansevoort in South Beach. Abu Dhabi Investments now owns 2.5 Percent of Hyatt Hotels The Chicago Based Hotel is Owned by The Pritzker Family
Hyatt Hotels raised almost a billion dollars in an initial public offering last month. The Chicago-based Hyatt Hotels is 85 percent owned by the wealthy Pritzker family. It operates more than 400 hotels in 45 countries. Following some years of public ownership the Pritzker family retook control between 1979 and 1982. Dubai World Biggest Gamble Yet - Vdara Hotel The 7,000 Room Hotel Opens in Las Vegas, While Other Hotels are Closing Down
No casino, and no rooms for smokers. Vegas observers regard this opening as one huge gamble, but the Vdara folks see it as their big chip. I guess they are banking on international high morale customers, who will be willing to spend their large sums in the Nevada desert sands. Never say never, is the word, Dubai world may be over his head or just better at setting itself up for the big gamble. You never know which way it goes. Hotels Owners Facing Increase Defaults on their Mortage Loans Not Even The Free Nights or Fifty Percent Off Can Save the Decline
But all that discounting hasn't stopped occupancy from dropping an average of 10 percent. The result? Hotel loans have begun falling into delinquency faster than any other kind of commercial real estate debt. The rising defaults paint a grim picture for an industry with increasingly more rooms than guests, and more hotels still opening every day. It's a problem that could get worse before it gets better, with demand expected to remain weak and ambitious new projects planned before the meltdown worsening the room glut. The oversupply means room rates should stay low for at least another year, good news for consumers but not so great for hotel owners and the banks that lent them the cash to build or buy. The rise in delinquencies is sharp. Five times more hotel loans are behind on payments this year than in 2008, according to mortgage data firm Trepp LLC, which tracks those traded by investors. In October, 8.7 percent were distressed, compared with 1.5 percent last year. Resturant Dinning Out Rates Down 4 Quarters in a Row The Economy and Jobless Rate Anxiety is Taking a Toll on Consumers
In particular, they are focusing on catering private parties and hosting business gatherings -- a vital source of income this time of year. "We called back a lot of people this year who canceled on us after the economy collapsed last October," said Joachim Splichal, chef and founder of Patina Restaurant Group, which owns Patina, Cafe Pinot and Nick & Stef's Steakhouse, among other upscale eateries. Nine Percent Drop in Hotel Rates in 2009 Compared to 2008
A 3.2 percent increase in the number of hotel rooms this year added to the hotel industry's problems, PricewaterhouseCoopers said, expanding supply just as consumer demand weakened and further hurting the ability of hotel operators to maintain stable pricing Top Ten Lowest Rates Luxury Hotels in 2009 Fall Season California Hotels Tops the List
San Diego A block from the harbor, the 23-room Pearl Hotel is a Palm Springs–style motel that forms a horseshoe around a saltwater pool. In the 2-year-old hotel, cypress-tree stumps serve as coffee tables and pet betta fish as roommates. By the pool, the butterfly lounge chairs and cabanas are the best seats for weekly movies like Breakfast at Tiffany's. thepearlsd.com, from $79. Palm Springs, Calif. The third branch in the white-hot Ace chain makes the most of its expansive desert resources: Occupying a 1965 Howard Johnson, the 9-month-old Ace Hotel & Swim Club has a dedicated stargazing deck near the pool and is in the process of going fully solar-powered. But design is really the brightest light here. The 180 rooms, with cork floors and tree-trunk tables, have whimsical accents like denim-covered headboards and vintage National Geographic magazines scattered about. Throughout the property, designers make playful use of space: An ice-cream truck serves as the poolside bar, and spa treatments take place in Mongolian yurts. The on-site King's Highway restaurant, once a Denny's, is a foodie's riff on a retro diner—think ricotta hotcakes served with maple-crunch butter. acehotel.com, from $109. Berkeley, Calif. Two blocks from the UC Berkeley campus, Hotel Shattuck Plaza is just the kind of place grad students at the college's architecture school aspire to live in. The 1910 building reopened in June after a cosmetic overhaul of the 199 rooms: They now have bright new fabrics and vibrant red walls. The restaurant, Five—with its crystal chandelier and arched windows—puts a refined farm-to-table spin on comfort foods with dishes like orzo mac 'n' cheese. hotelshattuckplaza.com, from $119. San Francisco Union Square's 102-room Hotel Vertigo takes its theme to great heights. Named after Alfred Hitchcock's 1958 thriller Vertigo, which was filmed on location and plays on a loop in the lobby, the property preserves the dizzying spiral staircase featured in the movie, while also sprucing up most rooms with white tufted-leather headboards and orange-vinyl chairs. hotelvertigosf.com, from $125. Los Angeles When opening the El Tres Inn in May, former music execs Melanie Tusquellas and Dave Neupert literally built on the success of their El Chavo Restaurant and Chavito Lounge—they added a trio of soundproof suites above. Befitting its artsy Silver Lake neighborhood, El Tres makes a statement with red-velvet sofas and florid wallpaper. All rooms have private kitchens and come with two free drink tokens for house margaritas. Ask for the Uno suite, which has a turntable and classic vinyl (Pink Floyd, Miles Davis, Dolly Parton). eltresinn.com, from $125. Teton Village, Wyo. Pro skier turned hotelier Rob DesLauriers didn't compromise on comfort when going green. His 132-room Hotel Terra Jackson Hole—built using old barn lumber—has bathrooms with radiant-heat slate floors and amenities like a full-service spa and an outdoor infinity pool. The hotel is less than a five-minute walk from the Jackson Hole Aerial Tram, and after a punishing day on the slopes, nothing beats soaking in the rooftop hot tub while sipping a fair-trade latte. hotelterrajacksonhole.com, from $119. Astoria, Ore. A lodge for ferry passengers crossing the Columbia River in the 1920s, the Commodore Hotel Astoria was revived by new owners this year. The lobby and 18 rooms combine authentic artifacts (antique books and suitcases), splashy furniture (bright-orange metal chairs), and creative recycling that pairs the old with the new (a coffee table made from the original fir floorboards). Book one of the eight suites that has a view of the river and a private bath. commodoreastoria.com, cabins from $69, suites from $129. Portland, Ore. Avid shoppers will feel right at home at The Nines, which occupies the upper nine floors of the restored Meier & Frank department store building downtown. The lobby shows off a 419-piece collection of paintings and sculptures by Portland artists, and the lounge lets you browse another local treasure: books from the legendary Powell's shop. Many of the 331 rooms, dressed in silver wallpaper and furniture upholstered in turquoise velvet, face a large atrium; the old Meier & Frank space downstairs—behind its original white terra-cotta façade—is now a Macy's. spg.com, from $149. Chicago Chocolate-brown carpets spun from recycled soda bottles are just one of the many earth-friendly details at the Hotel Felix. The 225 rooms have motion sensors to control the heat and lighting, and the spa has sustainably produced bamboo floors. Drivers of hybrids park free, but the hotel is a 10-minute walk from the Hancock tower, so you could also skip the car entirely. hotelfelixchicago.com, from $129. Milwaukee The Iron Horse Hotel was dreamed up a year ago to cater to people visiting the Harley-Davidson Museum down the street. Owner Tim Dixon's goal was to welcome guests wearing everything from business suits to buckle boots. The look in the 100 rooms is all oak floors, exposed-brick walls, and black-leather headboards. And metal hooks for hanging motorcycle gear are just the kind of thoughtful touches to warm a biker's heart. theironhorsehotel.com, from $149. |
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