Integrated Resort 2050 - Cromwell Analysis

Page 1

IR2050:

THE CROMWELL

AMY CORDES/ ANDRES DIAZ


IR2050: HISTORICAL ANALYSIS

NIGHTLIFE

SITE

1997 Drai’s Restaurant 1999 Drai’s Restaurant stays OPEN for AFTERHOURS Nightclub. 2014 Drai’s Nightclub/Beach Club on Rooftop

BARBARY COAST DESERT VILLA

1959-1974 Desert Villa Motel 1959 Empey’s Desert Villa 1974-1977 Times Square Motel (1974 also El Cuadro Carousel Motel) 1977 Demolished 1979-2007 Barbary Coast 2007-2013 Rebranded Bill’s Gamblin’ Hall and Saloon 2013 Closed and remodeled 2014 The Cromwell

1979 1959

PROPERTY TIMELINE


THE CROMWELL BILL’S

2014 2007

HISTORICAL SITE TIMELINE


IR2050: HISTORICAL ANALYSIS

1979-2007

BARBARY COAST/ BILL’S GAMBLIN’ HALL


2014

THE

CROMWELL


IR2050: HISTORICAL ANALYSIS

2013

IN

BILL’S closed and underwent a year long rennovation adding a 65,000 sf. Nightclub/ Beach Club on top of the roof.

$185

MILLION RENNOVATION INCLUDING


10,000 13,000 65,000

SF GIADA RESTAURANT SF DRAI’S AFTERHOURS SF DRAI’S BEACH CLUB/ NIGHTCLUB ONLY

40,000 SF CASINO FLOOR

440 66

$75MILLION DRAI’S SLOTS

188

TABLE GAMES ROOMS


IR2050: HISTORICAL ANALYSIS

2.9

Billion Food & Beverage

WHY

64 .

Billion

GAMING

105 Million XS NIGHTCLUB

1

* Billion NIGHTLIFE

*(1 Billion includes estimated tip revenue.) Las Vegas Convention and Visitor’s Authority / NightLife and Bar Top 100

TREND

Did Caesar’s Invest in a 185$ Million Rennovation emphasizing Social Spaces vs Gaming Space?

INDIVIDUALS ARE GAMING LESS AND


70% 60%

2010

1990

30%

2000

40%

2015

50%

BofA Merrill Lynch Global Research, Nevada Gaming Control Board

Non-Gaming

GAMING vs. NON-GAMING REVEUE Resorts must respond to changes in consumer tastes to remain competative.

78% EXPERIENCING MORE....

of Millenials rather spend on experiences vs. things.


IR2050: ENVIRONMENTAL STRATEGIES

PROBLEM:

ENERGY

0.20

SOLAR WIND

0.10

2050

2040

2030

2020

2010

2000

$ ct/kWh 1990

25% RENEWABLE BY 2025

0.30

1980

The RPS states that UTILITY PROVIDERSmust increasingly purchase energy from RENEWABLE sources and leverage off non-renewables such as coal and natural gas.

COST OF RENEWABLES

1970

NEVADA has mandatede to follow its RPS or RENEWABLE PORTFOLIO STANDARD.

PROJECTED RENEWABLE ENERGY

TODAY

600

18%

500 400

RENEWABLE

300

2050

2040

2030

2020

2010

2000

1990

SOLAR 1980

NON-RENEWABLE

BILLIONS 100 KWH PER YR

1970

82%

WIND

200


CAESARS’CODE GREEN Since 2007 Caesars’ has implemented an agressive Clean Energy Strategy targeting reduction in GHG EMISIONS and reducing ENERGY CONSUMPTION. GENERATING on-site RENEWABLE ENERGY enables Caesars’ NET ZERO by 2050. CODEGREEN SCORECARD

CODEGREEN TARGETS

A BALANCED SCORECARD APPROACH Metric

Weighting Objective

Electric

20%

Drive enterprise electric savings to reduce environmental impact, cost and carbon emissions

AND 2014 PERFORMANCE Scoring Average percentile rank of electric/chilled water use in kWh per ft2 conditioned space in most recent period and period-over-period decrease.

Natural Gas

15%

Drive enterprise natural gas savings to reduce environmental impact, cost and carbon emissions

Average percentile rank of natural gas/propane use in MMBtu per ft2 conditioned space in most recent period and period-over-period decrease.

Water

15%

Drive enterprise water savings to reduce environmental impact and cost while preserving a scarce resource

Average percentile rank of water use in gallons per ft2 conditioned space in most recent period and period-over-period decrease.

Increase waste diversion and recycling to reduce environmental impact and cost

Average percentile rank of waste generated per ft2 conditioned space in most recent period, average percentile rank of waste diversion percent for most recent period and credit for waste diversion data submitted quarterly.

Waste

Customer

Employee

10%

20%

20%

Increase customer awareness to build brand value and increase loyalty

Engage employees to increase job satisfaction and reduce turn-over

ENVIRONMENTAL

CUMULATIVE ACHIEVEMENT 2007- 2014

PERFORMANCE AGAINST 2014/15 TARGETS

NEW 2020 TARGET

2025 TARGET

-30%

-40%

Greenhouse gas emissions

Reduce greenhouse gas emissions per 1,000 air-conditioned sq. feet by 40% by 2025 (2007 baseline).

-22.6%

2013 target exceeded

Energy

Reduce energy consumption (fossil fuel based) per 1,000 air-conditioned sq. feet by 20% by 2015 (2007 baseline).

-21.3%

Exceeded

-30%

-40%

Water

Reduce water consumption per 1,000 air-conditioned sq. feet by 10% by 2015 (2008 baseline).

-16.6%

Exceeded

-20%

-25%

Waste

Divert 25% of total waste from landfill in 2014.

44.3%

Exceeded

50%

60%

ANNUAL TARGETS

PERFORMANCE AGAINST 2014 TARGET

ACHIEVEMENT 2014

SOCIAL

Employee

30% participation in CodeGreen

49%

Exceeded

Average percentile rank of most recent quarter and quarter to quarter change in responses to environmental impact question from customer surveys.

Guest

3% year-over-year shift in CodeGreen awareness and engagement of guests

2.5%

Not Achieved

Percentile rank of the participation rates from the most recent EOS.

CDP

50% of Caesars Top 150 suppliers respond to CDP supply chain

52%

Exceeded

Real Estate

Achieve LEED Certification for all newly built and expanded properties owned by Caesars

100%

Achieved

CERTIFICATIONS & SUPPLY CHAIN


IR2050: ENVIRONMENTAL STRATEGIES

SOLUTION:

ON-SITE RENEWABLE ENERGY

203kwh /acre SW WINDS Wind turbines are the cleanest source of renewable energy for a desert region. Unlike solar thermal they do not require water for evaporative cooling.

SITE WIND

N

2035

2020

ON-SITE SOLAR

SOLAR RADIATION

NET ZERO CROMWELL

13kwh / acre

N


IR2050 ENVIRONMENTAL TIMELINE

ON-SITE NET ZERO

2050

VOID WIND CAPTURE

NET ZERO CAESARS’

Renewable energy produced along adjacent Caesars’ urban development provides enough energy to assist and power entire Caesars’ properties in the Las Vegas Vicinity.

COOLING TOWERS VENTURI EFFECT

N


IR2050: URBANIZATION

24,000 people/ sq. mile

27,000 people/ sq. mile

VS. THE STRIP

NYC

41 MILLION annual tourists divided by 365 DAYS equals about a 100,000 daily population of tourists on the 4.2 square miles of the Las Vegas STRIP averaging about 24,000 people per square mile on any given day (not including employees).

THE STRIP IS JUST AS POPULATED AS NYC.... BY 2050 MAYBE DENSER.


THE STRIP DESIGN TREND THE STRIP architectural typology is theTOWER-ON-BASE model. However RECENTLY properties have addressed the STREET with retail and public space. FUTURE projects should continue this trend adding RESIDENTIAL and WORK places to create an URBAN environment.

PAST: TOWER-ON-BASE

FUTURE: URBANIZATION


CAESARS’ PROPERTY WITH URBAN POTENTIAL

TEMPORARY STRUCTURES & PARKING LOTS...


REPLACED WITH URBAN INFRASTRUCTURE.


IR2050: URBANIZATION

LOW-RISE-ON-BASE TOWERS provide minimal connection to their urban fabric below. A proposed typology LOWRISE-AND-BASE may be able to incubate a healthy residential community on the strip. TOURISTS would be separated from RESIDENTS preventing NOISE, and providing PRIVACY while still allowing a visual CONNECTION .

RESTAURANTS & NIGHTLIFE

FUCK TOWERS THEY INHIBIT THE URBAN ENVIRONMENT. LOW-RISES HOWEVER FOSTER COMMUNITY & BUILD NEIGHBORHOODS.


2020

URBANIZE THE STREET EET

2035

PUBLIC SPACE ABO VE LV BLVD

2050

DENSIFY THE LAS VEGAS STRIP


IR2050: SOCIAL EVOLUTION

THE CROMWELL prioritizes SOCIAL SPACES with a minimal gaming floor being secondary. The non-gaming > gaming casino typology is the most responsive yet to millennials. The property being forward thinking raises the question of what direction the CASINO typology takes next?

10,000 13,000 65,000 40,000 SF GIADA RESTAURANT

SF DRAI’S AFTERHOURS ONLY

SF DRAI’S BEACH/ NIGHTCLUB SF CASINO FLOOR

AS REALITY BECOMES BINARY 1’s & 0’s.... BY 2050 VEGAS MAY BE THE ONLY DESTINATION TO TRULY SOCIALIZE.


LAS VEGAS IS THE GLOBAL MEETING ROOM. CONVENTIONS. EVENTS. NIGHTLIFE. NETWORKING. SOCIALIZING.

71%

ONLY

12 Million

People visit LAS VEGAS and will continue to visit Las Vegas for the human experience. While GAMING is going down SOCIALIZATION is going up. INNOVATION is key in keeping gaming RELEVANT in Las Vegas.

of visitors GAMBLE.

POTENTIAL GAMBLERS

PROBLEM: GAMING REVENUE IS SUFFERING 7M

2015

2012

2009

4M

2006

5M

Las Vegas Convention and Visitors Authority

6M

A DOLLAR IS A DOLLAR BUT HOW DO WE INCREASE GAMING REVENUE? AND KEEP LAS VEGAS THE GAMING INTELLECTUAL CAPITOL OF THE WORLD.


IR2050: SOCIAL EVOLUTION

SOLUTION:

INCREMENTAL INTEGRATION of GAMING and NON-GAMING.

GAMING EMBEDDED INTO ARCHITECTURE.

GAMING+TECH+SOCIAL+ARCHITECTURE

+ SOCIALIZE.

GAMING must respond to VISITOR’S demand to socialize. Gambling can be integrated into NON-GAMING activities.

INTERACT.

+

VISITORS should INTERACT with tech but not become ISOLATED by it.

$

$

CONNECT. ARCHITECTURE should not only facilitate but become GAMING itself throughout a RESORT.


2020

MASS PERSONALIZATION is a responsive tactic to millenials.

PERSONALIZE/SOCIALIZE GAMING.

2035

Visitor Circulation

2050

Visitor Circulation

CASINO FLOOR

72%

of visitors used SOCIAL MEDIA or the WEB to plan activities during their stay in Vegas

NON-GAMING

RESORT ENVIRONMENT

COHESION OF GAMING INTO NON-GAMING ENVIRONMENT.

Christopher DeVargas

INTEGRATE GAMING INTO NON-GAMING.


IR2050: SOCIAL EVOLUTION AND INFORMATION

Andrade, Stephen. “Visual Metaphor in Games of Chance: What You See is What You Play.” Occasional Paper Series 21. Las Vegas: Center for Gam Librar ies, 2013. Accessed November 19, 2015. http://gaming.unlv.edu/papers/cgr_op21_andrade.pdf

Binde, Per. “Why People Gamble: A Model with Five Motivational Dimensions.” International Gambling Studies 13, no. 1 (Aug 2013): 81-97. Acces http://dx.doi.org/10.1080/14459795.2012.712150

Finlay, Karen, Vinay Kanetkar, Jane Londerville, and Harvey H. C. Marmurek. “The Physical and Psychological Measurement of Gambling Environm 38, no. 4 (July 2006): 570-81. Accessed September 22, 2014. http://dx.doi.org/10.1177/0013916505283419

Finlay, Karen, Harvey H. C. Marmurek, Vinay Kanetkar, and Jane Londerville. “Casino Decor Effects on Gambling Emotions and Intentions.” Environ (July 2010): 524-45. Accessed September 22, 2014. http://dx.doi.org/10.1177/0013916509341791

Gainsbury, Sally, and Nerilee Hing, et al. “An Exploratory Study of Interrelationships Between Social Casino Gaming, Gambling, and Problem Gamb Mental Health Addiction 13, no. 1 (Feb 2015): 136-153. Accessed November 18, 2015. http://dx.doi.org/10.1007/s11469-014-9526-x

BIBLIOGRAPHY

Hudson, Simon, and Karen Thal. “The Impact of Social Media on the Consumer Decision Process: Implications for Tourism Marketing”. Journal of no. 1-2 (Mar 2013): 156-160. Accessed October 14, 2015. http://dx.doi.org/10.1080/10548408.2013.751276

Lee, Choong-Ki, and Bo Jason Bernhard, et al. “Differential Gaming Motivations and Recreational Activity Preferences Among Casino Gamblers.” J no. 4 (Dec 2015): 1833-1847. Accessed November 18, 2015. http://dx.doi.org/10.1007/s10899-014-9513-y

Miller, Robert. “The Construction of Spatial Imaginaries: Luxury, Spectacle, Cosmopolitanism, and the Formation of the Casino-Resort.” Occasiona Center for Gaming Research, University Libraries, 2014. Accessed November 19, 2015. http://gaming.unlv.edu/papers/cgr_op27_miller.pd

Quinlan, Chelsea K., Abby L. Goldstein & Sherry H. Stewart. “An investigation of the link between gambling motives and social context of gambling Gambling Studies 14, no. 1 (2014): 115-131. Accessed November 18, 2015. http://dx.doi.org/10.1080/14459795.2013.855252





IR2050: SOCIAL EVOLUTION AND INFORMATION

Andrade, Stephen. “Visual Metaphor in Games of Chance: What You See is What You Play.” Occasional Paper Series 21. Las Vegas: Center for Gam Librar ies, 2013. Accessed November 19, 2015. http://gaming.unlv.edu/papers/cgr_op21_andrade.pdf

Binde, Per. “Why People Gamble: A Model with Five Motivational Dimensions.” International Gambling Studies 13, no. 1 (Aug 2013): 81-97. Acces http://dx.doi.org/10.1080/14459795.2012.712150

Finlay, Karen, Vinay Kanetkar, Jane Londerville, and Harvey H. C. Marmurek. “The Physical and Psychological Measurement of Gambling Environm 38, no. 4 (July 2006): 570-81. Accessed September 22, 2014. http://dx.doi.org/10.1177/0013916505283419

Finlay, Karen, Harvey H. C. Marmurek, Vinay Kanetkar, and Jane Londerville. “Casino Decor Effects on Gambling Emotions and Intentions.” Environ (July 2010): 524-45. Accessed September 22, 2014. http://dx.doi.org/10.1177/0013916509341791

Gainsbury, Sally, and Nerilee Hing, et al. “An Exploratory Study of Interrelationships Between Social Casino Gaming, Gambling, and Problem Gamb Mental Health Addiction 13, no. 1 (Feb 2015): 136-153. Accessed November 18, 2015. http://dx.doi.org/10.1007/s11469-014-9526-x

BIBLIOGRAPHY

Hudson, Simon, and Karen Thal. “The Impact of Social Media on the Consumer Decision Process: Implications for Tourism Marketing”. Journal of no. 1-2 (Mar 2013): 156-160. Accessed October 14, 2015. http://dx.doi.org/10.1080/10548408.2013.751276

Lee, Choong-Ki, and Bo Jason Bernhard, et al. “Differential Gaming Motivations and Recreational Activity Preferences Among Casino Gamblers.” J no. 4 (Dec 2015): 1833-1847. Accessed November 18, 2015. http://dx.doi.org/10.1007/s10899-014-9513-y

Miller, Robert. “The Construction of Spatial Imaginaries: Luxury, Spectacle, Cosmopolitanism, and the Formation of the Casino-Resort.” Occasiona Center for Gaming Research, University Libraries, 2014. Accessed November 19, 2015. http://gaming.unlv.edu/papers/cgr_op27_miller.pd

Quinlan, Chelsea K., Abby L. Goldstein & Sherry H. Stewart. “An investigation of the link between gambling motives and social context of gambling Gambling Studies 14, no. 1 (2014): 115-131. Accessed November 18, 2015. http://dx.doi.org/10.1080/14459795.2013.855252


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