Cosmo Loses Money

The Cosmopolitan has announced a loss of approximately $25 million for the first quarter even after increased revenue and a high occupancy rate of around 88 percent and an huge average room rate of $273 per day. The property was never going to make back the money the hotel cost to build but its ongoing losses must be a concern yes some of its because the horrible economy but with a high rack rate for the rooms and high occupancy rate you would think the property would do better. The property is doing some things very well such as a great popular buffet, a popular hotel room product with some suites with balconies, a great club as well as some interesting bars. The main issue seems to be the casino which has seemed like an afterthought at times even though its a good size with a nice table area and all new machines. The Cosmopolitan always had a disadvantage against its big neighbors of MGM and Caesars when concerning gambling because it doesn’t have the huge players club of both programs to market to. Another disadvantage is an interesting one to have because of the huge demand for the rooms they cannot use them to comp or discount to get gamblers to stay there with their slot program. More promotion of the casino product would help this property and maybe joining with a casino company without Las Vegas properties would draw in more people to fill their casino. Often i have walked through the casino during the day with empty tables and staff standing around with the table minimums set at $25, on our upcoming trip i will check out if this is still an issue, lower limits when its slow get people to play. This is a great property with friendly staff and one of the few independents on this end of the Strip it would be great to see this property prosper.

Deals: Save More on Your Honeymoon with Coupon Code HONEYMOON10!

Zappos Pop Up Store Opens

As the holiday season draws near Zappos the online shoe retailer who is moving its headquarters to Downtown Las Vegas is also opening a pop up store at the Cosmopolitan. The pop up store is open daily from 11am to 11pm and will remain open through November 3^rd.  Players who sign up for the Cosmopolitan Identity player’s card will have a chance to win cash and Zappos gift cards with two $10,000 prizes  being given out on November 3^rd. 

DEALS: Stunning Last Minute Hotel Bargains in US. Cheap rates per night. Compare Now!

Wicked Spoon Buffet

The 'Wicked Spoon Buffet' at the "Cosmopolitan" has been getting rave reviews since it opened with its small plates of food and wide selection of quality items. One thing that has happened since the buffet became more popular is the cost has good up from the original pricing of $15 or less to the current pricing of up to $35 for dinner but if you want to have a high end buffet this stands up there with the best in town in that catagory.

Pricing:

Brunch $22 (Mon-Fri 8am to 2pm) $29 and til 3pm on weekends

Dinner $35  (Sun-Thur 5pm to 9pm) Friday & Saturday 5pm to 10pm

Happy Hour 5pm to 7pm

Happy Hour Specials

$5 drink specials on cocktails and beer

$8 wine specials by the glass or $20 per bottle.

“Cosmopolitan” Announces Layoffs

Layoffs at Las Vegas resorts are not unusual in this current climate although it had seemed the worst was over with less layoffs in recent months well if you don’t include the “Sahara” closing down. But now come the news that the “Cosmopolitan” has let go off about 1 percent of its workers which is a small number of their total workers unless you happen to be one of them. The layoffs were in the gaming department and, if you figure 1 percent of their nearly 4,200 employees that would be about 40 employees or so. The “Cosmopolitan” has been getting great reviews since its opening in December 2011 for its buffet and cool bars as well as their hotel rooms a lot of which have balconies something rare in Las Vegas. The big weakness for the property has been its casino operations which the good size casino has the latest machines, friendly staff but is mostly quiet a lot of the time. The property had a disadvantage when it opened as it didn’t have a large customer base to draw on like a new Caesars or MGM property would have but it also seems to have treated the gaming side as an afterthought. The marketing for the property has all been around the experience with clever hip ads but hopefully now they will help the gaming side. The layoffs may be related to the new CEO Thomas Mc Cartney who was previously at the “Tropicana” and, took over on January 1^st of this year. Thomas Mc Cartney did a great job on revamping the old tired “Tropicana” in to a hip South Beach style resort and hopefully he can work his magic on gaming at the “Cosmopolitan.” For all the rave revues of its food, bars and hotel rooms the property needs to improve its gaming side which will hopefully improve the numbers for the “Cosmopolitan” which reported a loss of $58.5 million in the third quarter. While it’s sad for the people that were let go in the gaming department we hope this is part of a restructuring and, wider plan to get people in to the casino instead of just a cost saving.

Have A Fake Wedding On The Strip

The pop up wedding chapel at the “Cosmopolitan” on the strip has been open for a few months and seems to be getting lots of interest. If you are not familiar with the chapel it’s where you can get faux married either just for fun or for vow renewals or maybe for practice for the big day. So if you are partying in Las Vegas and want to marry a friend without the commitment now’s your chance as well as a faux wedding picture to freak out the family when you get home. The pop up wedding chapel has many packages with the basic package called ‘Hitched in a hurry’ which includes the ceremony plus, two Soffia Coppola champagne cans, two eraser rings and for the wedding pictures one photo booth token. Another package is called ‘On a whim’ but if you want to go all out and splurge on your faux wedding the elite package is called ‘Going to the chapel;’ For this package for the big spenders includes the wedding ceremony, one silk flower bouquet, bottle of Soffia Coppola champagne with the two eraser rings again, two photo booth tokens as well party favors, six cake pops, two logo t shirts and VIP entry for four to the Marquee nightclub onsite.