The lone Fendi fragrance, Palazzo, has been scrapped by LVMH. The company has said that it will stop producing the Fendi Palazzo women's scent. Fendi Palazzo was introduced in summer 2007 and was meant to be the start of the relaunch of the Fendi fragrance division. According to Baseneotes, LVMH acquired the license to create the Fendi fragrances from YSL Beaute in 2005. It then discontinued existing Fendi scents, clearing the way for Fendi Palazzo. The new scent with its depiction of a store on the bottle and a scent of Bulgarian rose, orange blossoms, tangerine, bergamot, lemon, pink pepper, and jasmine meant to convey a sophisticated yet feminine air. In 2007 it was given a lavish launch that included an artsy black and white commercial (embedded after the jump).

WWD quotes Gabriella Scarpa, Country General Manager for LVMH Perfumes and Cosmetics in Italy who said that sales had been "encouraging, but didn't meet expectations." The scent was a beloved by many perfume fans who will be heartened to know that LVMH haven't ruled out a return to the fragrance market for Fendi at a later date.

More economic trouble has come to the Las Vegas Strip. Las Vegas Sands, the casino empire run by billionaire Sheldon Adelson which includes The Venetian and The Palazzo, is facing a tough decision. The company must either immediately raise new capital, cut development or perhaps both in order to satisfy loan agreements. Stock shares fell by a dramatic one third on the news that the company may break its loan agreements.

The stock's prices have plummeted over the past year dropping Adelson's personal wealth dramatically. Once his shares were worth around $30 billion but with the latest drop his stocks are worth less than $2 billion. It is estimated that the long-term debt at the Sands is $8.8 billion. The Sands currently has projects in Las Vegas, Pennsylvania, Macau and Singapore. Casino revenues that might have continued to fuel these projects in better times are also dropping quickly. Even the convention business, the bread and butter of Las Vegas has also dropped off as companies cut off all unnecessary expenses.

It's a tough break for Adelson, who worked as a financial adviser and real estate investor and created the technology trade show Comdex before getting into the hotel business in 1989 when the bought the Sands. The 4,027-room Venetian and the 3,066-suite Palazzo are two of the most popular places to stay on the Strip. As the AP reports Adelson controls 70 percent of Las Vegas Sands personally and through family trusts and so his fate is inextricably linked with the fate of the Las Vegas Sands but at this point it is not known if he will use his personal wealth to bail out the company.

UPDATE: The Las Vegas Sands has suspended their building projects on the Cotai Strip in Macau, laying off a potential 11,000 workers.

The Palazzo Las Vegas officially opened earlier this year and now, like its neighbor The Wynn, it's expanding into resdiences. Las Vegas Sands has announced that the company has reached an agreement with Starwood Hotels to create The St. Regis Residences at the Venetian Palazzo,. The new project is a collection of 398 private luxury residences under construction between Las Vegas Sands' Palazzo and Venetian resorts on the Las Vegas Strip.

The residence will be available fully furnished with a choice of several different designer packages. They will range in size from 1,700 to over 10,000 square feet for a duplex villa with private pool. Prices on individual units haven't been released yet but the press release says that total sales for all units could reach as much as $2 billion which would put the average price at over $5 million. The St. Regis Residences are expected to open in March 2010. They will begin accepting VIP reservations this month and open a preview gallery in October.

Sugarcane is the latest night club to open on the Las Vegas Strip. Sugarcane opened on Friday at the Palazzo Resort-Hotel-Casino. The club is located adjacent to SushiSamba's Las Vegas restaurant and will feature samba dancers, geishas, distinctive cocktails and over-the-top interior design. The 4,000 square foot club includes a stage, dance floor and DJ booth made of bamboo, smoked and frosted acrylic, resin and paper. Gold and chocolate brown leather cover wenge wood banquettes and the club's theme is displayed through 4,000 custom-made simulated "sugarcanes" which drop down from the ceiling and contain moving lights that wind through the tubes and rods. Brazilian graffiti artist Felipe Yung ("Flip") has also taken the spray paint can to various elements of Sugarcanes décor.

Continuing the Brazil meets Japan theme, entertainment will include exhibitions of capoeira, a Brazilian dance that incorporates martial arts, samba dancers, geishas, Japanese taiko drummers, models posing as Brazilian soccer players who will juggle soccer balls at the entrance and Sugarcane's in-house dancers. The cocktails also reflect the restaurant's Japanese, Brazilian and Peruvian culinary roots with drinks such as the Parisian Geisha (vodka, sake, mint and lemongrass), the Figo (Montecristo spiced wine, fig liquor, pear juice and lime) and the Bushido or "Soul of Japan" (shochu, plum sake, muddled plum and daikon beer float). Sugarcane's Cocktail Tree ($70) showcases 12 different drinks (four samples of three different drinks), positioned within the branches of a wrought-iron, sculptural "tree." They also have a large sake collection and offer sake bottle service.

Anyone with the price of a room can book in at a grand hotel. It takes a little more effort to seek out the truly exceptional places to stay when traveling abroad in the continental style.*

There are some very posh and quite private places in Italy that don't exactly go out of their way to advertise: ancient castles and estates in Tuscany, sixteenth-century palazzos in Venice, and exquisite chateaus like the mountaintop Villa Beccaris in Piemonte pictured here.

In Italian Hideaways: Discovering Enchanting Rooms and Private Villas, out next week, Meg Nolan, formerly of the International Herald Tribune's Milan bureau, takes us on an armchair tour of the best of them. Take a look at the gallery below for an exclusive preview, and start saving up for that trip....

* (with apologies to Tom Waits)

It isn't very often that a new hotel joins the regulars on the strip so the recent opening of Palazzo has made quite a stir in Sin City. Neighbors with the Venetian, this 50-story, $1.9 billion luxury hotel hosted its grand opening over the weekend with VIP events, a private party at the 40/40 Club with Pat Monohan from Train performing, and a culminating celebration of Luminaries and Legends hosted by Wayne Brady and starring Diana Ross. Other performances included Seal, Andy Garcia and the Cineson All-Stars, and the cast of smash-hit Broadway musical, Jersey Boys. Of course the luxurious amenities will entertain for years to come for those of us who weren't invited for the weekend.

A new luxury hotel in Las Vegas will have it's soft open on December 20, with a grand opening planned for January 17 to 19, 2008. The Palazzo Las Vegas has been created by the Las Vegas Sands Corp. and will be a new resort-hotel-casino on a scale with the other luxury options in Las Vegas. The Palazzo will have spacious suites, restaurants by top celebrity chefs such as Wolfgang Puck, Emeril Lagasse, Mario Batali and Charlie Trotter, entertainment with the musical Jersey Boys and the 40/40 Club, a Las Vegas version of New York's sports bar and lounge. The Shoppes at The Palazzo will also be home to Las Vegas' first-ever Barneys New York, Chloe, Tory Burch, Christian Louboutin, Diane Von Furstenberg, Van Cleef & Arpels, Catherine Malandrino, Anya Hindmarch, and Michael Kors and, the largest Canyon Ranch SpaClub to date. The Palazzo suites include sunken living rooms and marble baths. Room rates start at around $450 a night.