Monday, September 13, 2010

Maybe Something Different And New

I certainly don't claim to have my finger on the pulse of the American consumer, but recession issues aside I'm puzzled by the apparent belief by developers and retail experts that when people travel to tourist locations what they really want to do, most of all, is visit the same shops that they can visit in any high end mall all over the country. Maybe they're right. What do I know?

When the Pier Shops at Caesars opened on the Atlantic City Boardwalk in 2006, full of $1,000 pocketbooks, trendy restaurants and an $8 million light show, the upscale venue was riding a wave expected to bring billions in new development to the resort.

Then the economy crashed, and casinos experienced record losses as rollers high and low cut back on Atlantic City or spent their cash in Pennsylvania venues. Developers slowly backed away from major deals for new casinos.


Iovino hopes any new owner would address parking issues and not try to change the upscale atmosphere. The mall is home to Gucci, Tiffany, Louis Vuitton and several bars and restaurants, including two by Stephen Starr.