$1 Billion M Resort Opens in Vegas

But he acknowledged that filling the 390 rooms at the $1 billion resort after its first month is tougher than he thought it would be.

"I do feel good that I don't have to fill 3,000 of them every night, because that would be a daunting challenge that the Strip is facing right now," Marnell told The Associated Press. "I think that we can carve out our little tiny niche down here with this product."

The 90-acre M Resort, located about 10 miles south of the Las Vegas resort corridor in the suburb city of Henderson, is depending on locals and drive-in traffic, mostly from California, to become regular customers. Marnell said the hotel is also advertising near the airport in hopes of showing how the property stands out.

M Resort has nine restaurants, including a buffet with beer and wine included in its price, as well as a cooking studio that can support television filming. A wine cellar uses a special dispensing system to preserve bottles, allowing it to offer 120 wines by the glass.

"The value has to be there, it has to be consistent through the business model and the life cycle because that's what builds the loyalty over time," Marnell said. "I think that it'll do well by you in both bad times and in good."