Hotel 32 is the name given to the top floor of the property that operates as a separate but integrated hotel. The 50 rooms include standard studios and larger suites but all are designed with an ultra-luxury touch that differentiates them from the rest of the rooms in the Monte Carlo.

In addition to unique furniture and decor, the rooms are done with high-tech convenience in mind from the flat screen televisions to the remote operated lights, drapes, and climate control. Bathrooms have hydrotherapy tubs and rainfall showers.

But it isn't just the furniture that is different at Hotel 32. Guests get a complimentary limo ride from the airport and are greeted by a "suite assistant" who is there to help them with their every whim. No need for something as pedestrian as standing in line to check in - instead guests get private in-room check in services. In addition, a club-level style lounge offers guests beverages and snacks.

As you would imagine, it isn't cheap to stay in one of these rooms. Standard studios start at around $250 per night, about 4 times higher than the rate for their regular rooms on other floors. But considering that a similar rate will get you just a standard room at some of the luxury hotels in town without the limo, assistant, and club level amenities it comes off sounding like a pretty good deal.

For more information visit Hotel32LasVegas.com.

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The number of people coming to Vegas was down again in June, a whopping 7% over last year. Occupancy rates at the hotels in Vegas were down to an average of 82%, which although significantly higher than the national average, is about 10 to 12 points lower than it usually is. In a city with about 130,000 hotel rooms, having an extra 13,000 of them sitting empty is a huge hit to a lot of bottom lines.

Gaming revenue was also down but even further - nearly 15%, marking the 18th straight month of declines. Money coming into the casinos was at its lowest level since 2005.

Earnings reports from the major casino companies continue to show signs of struggle. Parent companies of Planet Hollywood, Hard Rock, Riviera, and Hooters all reported disappointing numbers with several of them hinting at an inability to meet their debt obligations. The next step could be bankruptcy, a path that several Las Vegas casino operators have already taken.

Construction has come to a virtual standstill with CityCenter as the only major project still actively being worked on. Everything else from new hotels like Fontainebleau to expansions of existing ones such as the new tower at Caesars Palace, have gone into mothballs.

So when are things going to turn around?

Most experts agree that discretionary (some would say frivolous) spending on things like vacations to Las Vegas is often one of the last things to recover after a severe economic downturn. If things are on the upswing in the US (and that's a big if), it'll probably take a year before people really start considering Las Vegas as a good place to spend their extra income.

Certainly the opening of CityCenter in December may help to spur the desires of people who will want to come back and see the latest and greatest thing on The Strip.

But the bigger question in my mind is, have the Las Vegas hotels and casinos learned their lesson? Room rates, the cost of some shows, and even some dining prices have all come down significantly since the proverbial you know what hit the fan. That's been good news for Vegas visitors since they can get a lot less for a lot more and its one of the only things that has kept people coming to Vegas at all.

Once visitor volume starts going up again, will the hotels start raising prices to the point where most average people like you and me can't afford it again?

I have been saying it for a long time and the readers of this column have been vociferously agreeing with me: Vegas got too expensive. If it gets that way again, they only have themselves to blame if the crowds don't come back.

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