This past January 2012, Caesars Palace celebrated the grand opening of its luxurious new Octavius Tower—its sixth hotel tower that brings overall availability at the venerable property up to nearly 4,000 rooms and suites. The tower has already proven to be a high-demand destination, which is understandable given Caesars Palace has long maintained one of the highest regular occupancy rates in Las Vegas even during the recent economic downturn.