User profile: downtownsteve

The owners of Econo Lodge have spent some money to spruce up their property, which is very nice to see. But, as business owners, did they really do their homework? I cite two examples of hotel proprietors that appear to have done their homework, El Cortez Cabana Suites, and The Artisan. Two hotels in unlikely, and for many people, in undesirable locations. The Artisan is bordered by the valley's busiest freeway, I-15 and a busy surface street, Sahara. They took a run of the mill hotel and turned it into magic. A check of their rates indicate they are doing a pretty good business. A check of their web site shows if you want to stay on an off peak night, midweek, 10/20/09-10/21/09, you will pay between $89-$179. This is with a location that is somewhat loud with traffic noise, no easy access to the strip, (except by car) and in close proximity to several light industrial warehouses, and strip clubs. They have overcome several obstacles to become an extremely desirable boutique hotel in an unlikely area.

El Cortez Cabana Suites has also turned a risky location into a gem of a place to stay. It is steps away from what many people consider to be a pretty seedy part of town, on Ogden, near Las Vegas Blvd. I have checked for rooms twice in the past 4 months, only to find the weekend I was searching for already sold out. The midday rate there for 10/20/09-10/21/09 shows pricing between $30 and $48. Rates go as high as $80 a night there. Cabana suites is another perfect example of a success story in a challenging location.

Both of these hotels are a feather in the cap for the areas they do business in. In the case of El Cortez, it is my hope that they will be an inspiration to owners of similar properties in the area to continue to raise the bar, thusly, continuing the upward trend Downtown Las Vegas has been experiencing.

The owners of Econo Lodge knew the zoning of their property when they bought the place. They have 2 outstanding examples of hotels that seem to be doing a brisk business in a down economy, with challenging locations. They admitted at the planning commission meeting they bought this for a flip. It is currently listed for sale, $12 mil. It seems to me it would be better for them, and the area, to get creative, follow the lead of The Artisan and El Cortez Cabana Suites. Think boutique, instead of weekly. If they did the right improvements to their property, they could command a higher price per room, increase cash flow, and make their property more appealing to a potential buyer with solid numbers such as low vacancy rates and higher room rates. They might even inspire other nearby hotel operators to do similar improvements, which could very possibly raise the property values for everyone. The game of flipping downtown properties for land values are over. It's time to think long term, it's time to consider what's best for the area as a whole. Short term "solutions" can cause bigger problems in the long run.

Neon Reverb is such a treat for Las Vegas. The crowds that show up for this event are always tons of fun, it's always a great time. Big thanks to everyone involved in this project. The variety of music this time around looks fantastic. Come on down and enjoy what is sure to be an electrifying weekend.

Sure the area is a little sketchy, but it has been improving. Some newer retail that has moved to the immediate area include a nail salon, a hand rolled cigar shop, an Indian turquoise jewelry shop, and a pizza place.

Per the metro web site....there have been no homicides in downtown in the last 60 days. The NE-1, N/W-2, S/C(strip area) 1. Just sayin'.

Great article....love that picture too! This place is truly a gem for the Las Vegas valley.

Yet another property downtown that "gets it". Until recently, I had only been to the Gold Spike once. Nine years ago I got an offer in the mail for 2 free meals. I walked in that place for the first time ever with a friend of mine from out of town. I knew the place was a dive. We looked at the place serving the food, and just walked out. I don't mind eating at dives, but that place was disgusting. Today, Gold Spike is fresh and clean...nice to see. They, along with El Cortez, El Cortez Cabana Suites, Golden Nugget, among others are making improvements. The caliber of people walking the streets is improving, good change is happening downtown everyday. The MOB Museum is taking shape, there is new construction in the Arts District with the new Brett Wesley Gallery, Symphony Park is seeing The Smith Center for the Performing Arts going up, and the Cleveland Clinic Lou Ruvo Brain Center is nearing completion. Four new restaurants have sprung up in the past several months. Downtown Las Vegas continues to get down...even in a down economy.