The Parasol Down is at the bottom of the escalators between Daniel Boulud and S & W. The inner bar area is fairly small for such a huge hotel. The patio area is larger and overlooks the waterfall and the Lake of Dreams.
We had afternoon cocktails there twice. My wife enjoyed the pear martini (which even I had to admit was pretty fine) and I enjoyed the margarita (with an extra shot of smoky mezcal) and a Lagavulin (although I do not understand why they charge an extra $2.50 if you order it "neet" or on the rocks.) Contrary to some of the comments, the service was fine even though the place was packed on both occasions. They had some nice munchies: an interesting combination of wasabi peas, small pretzel sticks, almonds and dried cranberries. Because the room has a multi-storey ceiling, it was not deafening so you could enjoy your conversation.
There are two drawbacks: (1) the specialty drinks are $13-15 (but as one commenter observed this is, after all, Las Vegas), and (2) it is very small when you consider the overall size of the hotel. Nonetheless, it was a pleasant pit stop.
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