"THE Las Vegas hotel business is reeling. Already, construction on Boyd Gaming's $4.8 billion, five-tower Echelon, which was to house both the Mondrian Las Vegas and the Delano Las Vegas, has been delayed until at least the end of 2009 because of cash-flow problems. Now, we hear both the Vegas Fontainebleau and Andrew Sasson's Harmon Hotel are "shelling" - building out only half the rooms first announced and leaving many floors empty with windows to give the appearance of a completed project. Reps for neither project returned calls."
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