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ent000854-174
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I agree.Messing and Apt DAVID A. messing, C.P. A. CERTIFIED PUBLIC ACCOUNTANTS NATHAN N. APT, C.P. A. 230 SOUTH FIFTH STREET LAS VEGAS, NEVADA TELEPHONE DUDLEY 2 -7390 March 20, 1959 FROM: NAT APT TO; AL FREEMAN One of the principal drawbacks of any resort area hotel is the proper use and allocation of reem space. During the proverbial ?╟úoff season14 we find that at best the rooms are 100$ occupied on week-ends. During the summer and seasonal months we find that we are oversold and it's just a question of which guest to disappoint. Unfortunately, the cost of empty rooms and the loss of a percentage of disappointed good gambling customers to competitors will in all probability always to some extent be with us,. With this situation in mind, I decided to explore the possibilities of improving the room capacity at the minimum cost to the hotel. After some thought on th&s problem coupled with a bit of research I believe that I am able to present a unique plan for your consideration. WHAT IS THE IDEA The idea in its simplest form is this?╟÷ 1.- The Sands Hotel, thru a corporation which it wholly owns or controls, will have constructed on or adjacent to its premises deluxe apartment units or hotel suites. These units to be serviced by the Sands Hotel. 2.- The new corporation will lease these suites to tenants, on an annual basis, who are approved by the Sands Hotel, (for example: by invitation only $5,000. per year in advance.) 5.- The tenant will for a consideration to be decided, re-lease their apartment unit or hotel suite to the Sands Hotel to be rented when not being occupied on a profit sharing basis. (Assuming a rental of $20.00 per day -?║?╟≤ to the Sands Hotel ?╟÷-?╜ The important point from the position of the Sands Hotel is that there is no cost to them iJf the room is idle and if they have a customer they share in the room rentals.)