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Vacation Village Hotel and Casino


The Future of Vacation Village is Bright

Location: Vacation Village is the only Casino located on two major freeways, I-15 and I-215 as well as the Las Vegas Strip.  Vacation Village, Inc. has entered into a management contract with Holiday Inn Inc. and Bass Hotels .   Bass Hotels & Resorts operates 2,700 properties with 400,000 guestrooms around the world including Holiday Inn (R), Crowne Plaza (R), and Inter-Continental (R) Hotels. It is their intent to replace the 700 rooms that are being demolished at The Boardwalk (further North on the Strip) with at least that many more rooms at the Vacation Village site.

With the vast database of Holiday Inn’s preferred customer list it is anticipated that the occupancy rate and the room rates will be increased substantially.  The cost of construction per room will be approximately $45,000 and will generate over $25,000 per year in gross revenues.   With them managing the rooms it will be assured that they will generate the maximum revenues and occupancy rates. 

Holiday Inn presently turns away 500,000 guests per year and is looking to Vacation Village to make up those lost rooms.  With 25 acres on the strip, Vacation Village is the ideal choice to accomodate Holiday Inn's need to fill the 1,000 room deficit and an occupancy rate of over 90% is assured.  118 bowling lanes underground will bring another 6,000 visitors each week to the Vacation Village.  This alone could fill the treasured vacation spot, with or without Holiday Inn.

Timeshares: Holiday Inn has agreed to let Vacation Village use some of the new rooms for a timeshare operation.  They will be implementing some innovative concepts that are expected to generate very substantial revenues.

The demand is there.  All we have to do is meet that demand and we have people year-round, enjoying the fun of Las Vegas and playing the slot machines, buying the timeshares and so on.

The American Bowling Congress generates 120,000 bodies per year at its Reno facility which provides only form of entertainment; bowling.  It has, along with the WIBC and NABI , committed to bring in 6,000 bowlers per week upon completion of a 118 lane bowling alley. 

This will be built underground and will be the largest bowling alley in the world.   This will provide the bowlers with the casino facility, shopping and the Las Vegas Strip which are not available at the Reno facility.   The estimated cost to build is $10,000,000 and should generate at least $2,500,000 per year and favorably effect the casino.

The main Use of Proceeds of this loan will be to add approximately 700 rooms. They are contemplating about 100 Extended Stay Units and 60 Time Share Units which can also be used as deluxe suites. The cost of construction for the basic room will be approximately $45,000, plus fees and permits and will generate over $25,000 per year in net revenues. 



Future Growth Potential

The current Vacation Village operation occupies only 3 acres of the 25 acre site.  With an influx of $150,000,000 to payoff the current debt and the implementation  the above concepts, the net profits could exceed $50,000,000 per annum.   It is strongly recommend that you to consider this $150,000,000 investment at 13% for two years.

The Roller Coaster at New York, New York cost $10,000,000 to build and generates revenues of $18,000,000 per year in addition to bringing large number of bodies through the casino.  The management at Vacation Village finds the profit potential an 'interesting' prospect and hopes that investors like the 'return on investment' potential.

Howard Hughes Corporation currently owns 70 acres to the North of this site that has a limited value due to building height restrictions imposed by McCarran Airport and the FAA.   It is the intent of Vacation Village, Inc. to enter into a lease or purchase agreement and provide Kentucky-Derby-style horse racing or dog racing on that site.   This would be a natural adjunct to the gaming already provided on the Las Vegas Strip.

Mr. C.J. Harris, Director of Development & Asset Management for Bass Hotels & Resorts, the parent company of Holiday Inn and several other chains, provided a copy of the market study they did to determine if they wanted their franchise on the Vacation Village property.  He said the study showed that the occupancy rate at the Boardwalk was always over 90% and that they had to turn away thousands of customers last year and the same would be true for the Vacation Village property.

Project:
Vacation Village Casino-Hotel
Address:
6711 South Las Vegas Blvd
Las Vegas, NV 89119
Value:
$400+ million after rehab and additions
Investment Amount:
$150 million (fund-controlled )
Disbursements:
$52 in million Phase I
$98 in million Phase II
Use of Funds:
Phase I
pay off existing loans 
pay off creditors to release bankruptcy
pay broker commission
rennovate 315 hotel rooms
pay prepaid interest 1 year
set up a check-cashing fund
pay permits, fees and contingency

Phase II
add 700 rooms to existing 314 rooms and 
add 118 underground bowling lanes
100 extended-stay units
60 timeshares

Term:
2 years
Rate:
13%
Principle Brokers:
Larry Wingo/Redondo Mortgage
2305 West 190th Street
Redondo Beach, CA 90278
 

Gary Douglas/Crystal Clear Management, LLC.
4080 Paradise Rd., #15225
Las Vegas NV. 89109

Repayment Strategy:
refinance
timeshare sales
rentals: timeshares
rentals: 1,000 hotel rooms 
casino gambling 
bowling alley 
lease: movie theaters
lease: restaurants
leases: shopping center
revenue stream of $254,375,000 annually
 
 

 

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