Once again, the celebrity battleground otherwise known as Las Vegas takes center stage with the high stakes competition to see who can lure the biggest names to buy luxury high rise condo hotels.
Peter Morton unveiled his $1 billion Hard Rock Hotel expansion project on Saturday. In true marketing fanfare fashion, he picked this weekend because so many A-list celebrities were in town for the opening of Wynn Las Vegas. So far, rumor has it that Hard Rock condo purchasers include Claudia Schiffer, Joey Fatone, Tommy Lee, Sergei Fedorov and Wilmer Valderrama. Then, there's Britney Spears, who is upset both at Morton and her hubby Kevin Federline. She blames Morton for planting a story that included a quote from a Hard Rock representative that claimed Spears, who is five months pregnant, conceived during a stay there, and Federline for signing a cocktail napkin as a $50,000 downpayment on a Hard Rock Condo Hotel.
During his Saturday news conference, Morton said sales were cutt off after 3,000 units on the 24 acre site sold for $2.5 to $6 million each. The project includes 5 towers, an amphitheater-like pool setting for outdoor concerts, a spa, and 50,000 square feet of convention space.
Likewise, the Palms project is going after a similar market. They have announced that Eminem, Jessica Simpson and her husband Nick Lachey, and future hall of fame pitcher Roger Clemens are among those who have reserved units at the 49-story tower scheduled to open in 2007.
Can you imagine the stories you can tell with neighbors like that? Then again, how many bankers will accept your napkin as downpayment?
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