Venue Notes
Lisa Plummer -- Tradeshow Week, 7/31/2008 2:50:00 PM
South Point Hotel & Casino completed a $100 million expansion project in the form of a third hotel tower. Begun last August, the 25-story tower includes 830 guest rooms and 10,000 square feet of additional conference space, rounding out the property's inventory at 2,163 rooms and 160,000 sq. ft. of meeting and convention space.
The World Market Center is taking a break from development by postponing the construction start date of its fourth structure, Building D, until later this year. According to Co-managing Partner Shawn Sampson, delaying the $350 million, 17-story, 1.5 million sq. ft. building is part of WMC's strategic plan to focus on customizing its infrastructure to meet the needs of several new industry segments, including kitchen and bath, hospitality furniture and gifts. Building D remains on track to open in 2010, Sampson said. Upon completion in 2012, plans are for the 57-acre WMC campus to have eight buildings with 12 million sq. ft. of permanent and temporary showroom space.
The owners of Lake Las Vegas Resort, a 3,592-acre master-planned residential and resort community, filed for Chapter 11 bankruptcy protection. The 10-year-old Henderson development, which includes 1,600 completed residences and three golf courses, surrounds a 320-acre man-made lake 17 miles east of the Las Vegas Strip. Claiming $500 million to $1 billion in debts, developer Lake at Las Vegas Joint Venture and its subsidiaries also obtained debtor-in-possession financing of more than $100 million to help continue operations and needed repairs during restructuring. Lake Las Vegas also has three hotel properties not included in the filing: a 493-room Loews Lake Las Vegas Resort; a 349-room Ritz-Carlton, Lake Las Vegas; and a 350-room MonteLago Village Resort and Casino MonteLago. Loews, Ritz and MonteLago have 55,000, 32,000 and 16,000 sq. ft. of meeting space, respectively.
