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Thursday, Dec. 17, 2009 | 2:20 p.m.
(Update: Planet Hollywood timeshare owners move in)
The first 20 residents of Planet Hollywood’s PH Towers by Westgate will be moving in Friday, marking the first of several condo tower openings over the next few months.
As the first phase of the project, the non-gaming, 52-story residential and hotel tower will include more than 1,200 suites to be used as vacation homes and traditional hotel rooms. The top five stories of the tower consists of 40 luxury penthouse units ranging in size from 4,000 to 12,000 square feet. Those will be used as residential units.
Upon completion, the two towers will house more than 2,700 units. A date for completion hasn't been announced.
The PH Towers will welcome their first hotel guests Dec. 28 and officially will celebrate the tower’s grand opening in early January.
The condo-hotel project is a partnership between Planet Hollywood and Orlando-based resort company Westgate Resorts.
The opening of the PH Towers will be followed by closings on residences at CityCenter’s Veer Towers, then Mandarin Oriental in February and Vdara in March.
Catering to the young and modern crowd, Planet Hollywood is a one-stop shop for entertainment with its massive shopping mall, slew of restaurants, spacious casino and clubs.
The ambiance of the casino is retro-chic meets high-tech with black granite floors throughout and colorful LED lights throughout the space. The theme carries into the 100,000 square-foot casino with 250 flat screens topping off slot machines. The casino is also home to 87 tables, a sports book and a poker room.
There's also the Miracle Mile Shops, one Vegas' largest malls, with 140 stores including BCBG Max Azaria, bebe, Urban Outfitters and The Discovery Channel Store.
Following an afternoon of shopping, guests can satisfy their appetites at one of the gourmet restaurants in Planet Hollywood, like the non-traditional approach to steakhouses at Strip House or check out the exotic Far East motif at KOI restaurant and lounge. And if guests are still looking for more, they can spend the after hours at Privé, Triq or Krave nightclubs.
Perhaps one of the resorts biggest attractions came in March with the addition of "Peepshow." The naughty twist on the story of Little Bo Peep is modern-day spin on the run-of-the-mill Vegas topless review. The "Peepshow" stage has seen visiting celebs like Scary Spice Mel B, "Dancing with the Stars" Kelly Monaco and Playboy's Holly Madison.
Congratulations PH condo owners. You get to check into your $500,000 tiny shoebox condos which will hardly ever rent out to anyone as hotel rooms. Oh by the way you could stay next door at the Planet Hollywood hotel for $35 per night any night except New Year's eve. Good investment in the condo!!!
If you are looking for the shmucks that sold you the condo three years ago promising that it was a no-brainer investment, they are probably now calling themselves "loan modification experts" for the massively overpriced mortgage you now hold.
A little free advice, don't get suckered again. You can pay them the $3,000, but they won't modify your loan.
I'll rent your condo for $34 a night and save myself the dollar over the hotel room. Scoff all you want, its the best offer you will get.
PH condo owners.. So sorry for your losses, hope they rebound someday. Not sure who will own PH, but if it turns out to be Harrahs, may the force be with you...
Maybe this should be where we experiment with attaching surplus rocket engines to demolish units by putting them into orbit!
Unlike the majority of the people posting their comments on this rag of a newspaper, these people have nothing but time and money on their side. 99% of the investors that buy into strip properties have money coming out the wazoo. Really, do you think that your comments and your "advice" can hold water? Theres a difference between an everyday Joe Shmuck (like yourselves) buying a house they cant afford just to keep up with the Jones' as oppossed to millionares and corporations buying investment properties, even at an inflated price. All they have to do is sit on it, regardless of all the negativity all of you try to push on everyone else, it is a fact that Vegas is not going to stay in a recession, whether it takes a year, two years or five years, Vegas will always be Vegas. Everyone has the right to their own opinion but it is so obvious in reading these posts that there are so many bitter individuals that made mistakes and think that everyone else, especially people with mega-money are going to make the same dumb mistakes they made. These people are not living paycheck to paycheck. Its a shame when people are investing in our community (unlike yourselves) and all you can do is criticize them, that is so pathetic!