Listening to quarterly earnings calls aren’t always fun or exciting but there’s usually at least one nugget of information in between EBITA and other financial mumbo jumbo. This was the case with the most recent Caesars Entertainment earnings call.
Caesars explained that they’re finally realizing that customers are willing to pay more for renovated hotel rooms. They specifically pointed an increased average daily room rate of 62% at The Linq Hotel from last year. Overall, Caesars properties now have an average daily room rate of $130 per night.
Caesars mentioned a slew of hotel renovations that are either already underway or being planned for the near future. New hotel rooms are nice but they will also bring a higher price point. You may not stay in your hotel room too much when you’re in Las Vegas but it’s nice to go back to a room that’s functional and doesn’t look like it’s from the 80’s.
Here’s a quick look at some of the hotel room renovations you can look forward to a Caesars Entertainment properties in Las Vegas.
- Caesars Palace – The entire Roman Tower will be renovated and the tower will be renamed the Julius Tower. Room will be available next year and rates will start around $120.
- Harrah’s – Carnival Tower rooms are being renovated as part of the recent property renovation. Ironically this is the hotel tower farther away from Carnival Court outside of Harrah’s.
- Paris – The suites at Paris will all be renovated in the near future. Expect the entry level rooms to get the renovation treatment sometime next year if they can move the oversized armoire’s.
- Planet Hollywood – Over 150 Hollywood Hip rooms will be renovated. The “Hip” rooms are the entry level rooms at Planet Hollywood and most likely see the most wear n tear.
- Rio – A number of suites in the Masquerade tower will be getting a much needed makeover.
While renovated hotel rooms are nice they usually come with a higher price tag. Caesars Entertainment has renovated most of their basic hotel rooms in Las Vegas in the past few years but there are still a few rooms that can use some freshening up. Look for the next wave of entry level room upgrades to hit the following hotels.
- Bally’s – The Jubilee Tower was introduced last year with perfect mid-range renovations. Look for the renovations to continue in the North tower next.
- Flamingo – The entry level “Fab” rooms were introduced less than 5 years ago but they were only partial renovations. The renovations never made it to the bathrooms. These may be last on the list for an upgrade but they could use a little love.
- Paris – The entry level rooms look as though they haven’t been touched since the hotel opened. The massive armoire in each room may seriously be too large to move.
The hotel renovations in the top half of this post have been confirmed. The lower half renovations are just speculation. Renovations are generally a win-win for hotels and customers. The hotel can charge more money while the customer has a nicer hotel room to experience.