Platinum Hotel & Spa Opens Its Doors
The $100M, 255-room Platinum Hotel & Spa opened its doors last week. It is significant because it is one of the first condo-hotels near the Las Vegas Strip to complete and open its doors. The Platinum did well in pre-sales being 80% sold out prior to receiving their financing some 20 months ago. Since then, it has completely sold out.
The units are priced between $300,000 and $1 million and range from 911 sf to 2,166 sf. New owners/renters will be enjoying such amenities as a full kitchen, a balcony, a 42-inch HD plasma television, an oversized whirlpool bath, a fireplace, 24-hour room service, town car service and complimentary high-speed Internet access. The luxury spa, indoor and outdoor swimming pools, the 4,500-sf rooftop terrace overlooking the Strip, and the upscale restaurant and bar, poolside lounge and lobby cafe are also worth noting.
Whether the new owners will also see a profit from these rental units in the future remains to be seen. Some experts are predicting owners can expect to achieve a “modest income” from the rental of the property. However, given the “newness” of this particular type of property, apprecation rates and re-sale values remain undetermined at this point and time.