August 23, 2007
Hooters is beyond resusitation
Analysis of:
LAS VEGAS: HOOTERS DEAL LIVES | www.lvrj.com
This analysis is solely the work of the author. It has not been edited or endorsed by GLG.
Implications: That's right, I beleive that the Hooters property has about as much chance to turn around as I have of flying minus an airplane! Let's take a closer look as to why Ron lodge is correct in his accessment.
Analysis: Let's take a closer look as to why Ron Lodge is correct in his accessment of this property. Hooters has a small hotel therfore their in house base of players is very small. The amenties of the property stink, Dan Marino's is their biggest attraction and he is better at throwing touchdown passes than cooking cooking a good steak, even at his age today. The pool area is unspectacular and nothing to make you want to stay at this property versus staying on the strip. The supposed "Hooter Theme" consists of a poor paint job and some attractive women wearing the orange and white hooters themed outfits. the low ceilings in the casino help create a claustiphobic feeling and their guest room product is adequate at best. Finally, you can not demo and rebuild, or really renovate this property since it sits on only 11 acres. The property is even inconvenient to walk to from the strip and have the added penalty of having the Tropicana hotel casino as its neighbor. The Tropicana has done less than Hooters to maintain their market share. All in all, I wish whoever buys this property, and beleive me someone will, the best of luck. They will need more than that!
Analysis: Let's take a closer look as to why Ron Lodge is correct in his accessment of this property. Hooters has a small hotel therfore their in house base of players is very small. The amenties of the property stink, Dan Marino's is their biggest attraction and he is better at throwing touchdown passes than cooking cooking a good steak, even at his age today. The pool area is unspectacular and nothing to make you want to stay at this property versus staying on the strip. The supposed "Hooter Theme" consists of a poor paint job and some attractive women wearing the orange and white hooters themed outfits. the low ceilings in the casino help create a claustiphobic feeling and their guest room product is adequate at best. Finally, you can not demo and rebuild, or really renovate this property since it sits on only 11 acres. The property is even inconvenient to walk to from the strip and have the added penalty of having the Tropicana hotel casino as its neighbor. The Tropicana has done less than Hooters to maintain their market share. All in all, I wish whoever buys this property, and beleive me someone will, the best of luck. They will need more than that!
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