DLindsey

24 Aug, 2013

Course Project Final
Lake Las Vegas Boardwalk Resort

Tourism

You are a member of a firm that specializes in the development of world-class resort hotels around various parts of the world. A client has hired your firm to create a report and recommendations for a new resort somewhere in the United States.
Course Project
Lake Las Vegas Boardwalk Resort

Development planning

A boardwalk signifies relaxation and entertainment. What better place to build a fabulous boardwalk entertainment village than in the tourist capital of America beautiful Las Vegas, NV, to be more specific, Lake Las Vegas. This is a lush lakeside retreat located only 15
This regional attraction has been in operation since 1997 and is only growing in popularity with both Texas residents as well as visitors to the Galveston Bay. By comparison, the Kemah location has only 52 rooms and is more dependent upon seasonal tourist business, whereas our Lake Las Vegas location will be twice the size with over 115 rooms and the ability to remain busy with both tourists and locals alike all around the year. It is with this main difference as well as the addition of a fully operational casino floor which will allow our operation to flourish and become profitable within the first 6-8 years. We are tentatively with contacts from regional Hotel management companies as well as casino managements for partnerships in our operations. We see the necessity to have this run like a four star hotel but with the relaxed nature of a holiday theme park with a casino. For our purposes of this project we are leaning toward Harrah’s Management Company. Harrah’s has the experience and technical know-how to handle all aspects of this venture and we would be pleased to have them as a strategic alliance.

Financial planning

Costs

Interest Rate
Per Month
Property ground Lease and construction financing
$22,000,000.00
8.5
$249,613.57
Santa Cruz Roller Coaster ($3.5 cost p/r)
$1,500,000.00
8.5
$17,019.11
Ferris Wheel (168 person-6per