Will Aria Succeed or Fail?

From designcurves

In a time of economic hardship there are always those who are trying to prove bright in the bleak.  The daring and daunting project called CityCenter masterminded by MGM/Mirage through the assistance of DubaiWorld adjacent to Bellagio in Las Vegas, one of the single largest privately funded construction projects in the world, claims to be one of these.  But little margin for error in my opinion was left when Aria's website went live today offering those with the cash the chance to book one of the first night stays in the resort.

Now don't get me wrong, I'm glad for this new expansion in such a dead economy, especially being an architect and these being, aside from the Vegas standpoint, architecturally significant buildings.  But as of now, there is no room on the date calendar that starts under $229.  There are also it should be noted, upwards of 10 different room types.  $229 is the bare bones room, what you get rack rate.  

Comparatively sister resort Bellagio is offering rooms as low as $129, as is Wynn, with Encore going as low as $169.  I don't know really what Aria is trying for here.  They are the new kids on the block, and with that comes a higher echelon of recognition for a period (think THEhotel upon opening) that will either survive as the resort gains the same recognition as Wynn/Encore and Bellagio or fall by the wayside.  But do I think it's smart to charge us astronomically high midweek rates during a financial crisis the likes of which we haven't seen in a long time?

I hope for the sake of sake that Aria succeeds, but in my opinion it seems that the starting gun has shot Aria in the foot.  Lower the rates, bring in the masses, show off the project and it's sister resorts (all of which will be MUCH more expensive I'm sure than the anchor resort) and get Aria off to a brisk start.  We don't want to see such a stunning development limp to the finish way before her prime.

(For the record, MGM's stock has gone from a high of 67.94 this year to a close near it's low of 4.27 today.)