They'll pay 5X what they should to stay there. You can stay at a 3 star resort in Henderson for $20/night or even Excalibur for $60, but it doesn't matter, Steve is getting the rates he wants for his rooms AND SELLING OUT. Is there a recession?, as I wait 10 minutes at an overcrowded Starbucks for my Latte, I'm having serious doubts.
I paid $100 a night to stay at Encore which is the new "luxury" Wynn hotel and was even given a $75 hotel credit on top of it. Now, I doubt Wynnie boy even makes any money at $100/night for this property.
Wynn is offering discounts like all the casinos. For a $159 room, you can get a $75 resort credit, "PLUS * Private Car Service to and from Airport * 2 Spa Passes per day * Internet Access per day * Long Distance Calls (up to $25) per day * Local Calls (up to $25) per day." It's comparable to other high end places like the Venetian (run by LVS).