Probably deserves three stars, but we weren't impressed at all.
To be perfectly honest, this isn't a very exciting hotel of all the choices in Vegas. We were looking for a less expensive place to stay, hang out, gamble, so we could spend bigger dollars on dining and entertainment elsewhere.
The rooms were decent (Tower Rooms) We loved the oversized shower, but the adjacent spa tub was a little on the small side. The bed was awful!!!! We were on vacation, looking forward to getting plenty of rest and relaxation. Instead we had sore bodies and restless nights. I do not recommend staying here until Luxor upgrades the matresses to pillowtops to say the least. Also, the pillows were flatter than any I've ever slept on! Using two seemed to just make it worse.
The pool was nice, never really crowded. Actually I think we got more sleep outside at the pool, than in our room.
The walkway through Mandalay Place to Mandalay Bay was a real treat considering we spent more time at M.B. than we did at Luxor. Now thats a resort. Also the pool entrance was a little far from the Tower elevators. I did pass CarrotTop one night on my way back from the parking garage however :)