Most of the hotels also have private elevators only for condominum owners so you don't have to mingle with the guests.
You pay an ongoing fee each month for the hotel services and utilities. But this is flat rate and is surprisingly affordable. Comparable in price to a high-end HOA fee in an upscale planned community ($300 - $400 per month). Remember this also includes utilities, access to hotel amenities, and house cleaning on a limited schedule (usually just 1 time per week). Additional house cleanings are sold at a fixed schedule of around $50 per cleaning.
I have a friend who has an apartment in the top of Las Vegas Trump Tower (yes yes, i know all the political presidential comments will follow now, but really the hotel is incredible). This caused me to look it up for myself. I live nearby in Utah and visit Las Vegas frequently. I considered purchasing an apartment in a hotel for myself.
Like any other house, these are listed on the MLS. You hire a real estate agent, etc. I looked at Cosmopolitan, The Palms, MGM Signature, and a few others. They are all surprisingly competitive. Prices start around $250k (which gets you a studio style room). $350k seemed to be the average price for a 1 bedroom. And $500k seemed to get you in the 2 bedroom range. Penthouse suites are also available in the > $1M range.
But all-in-all you can basically live in a hotel for roughly the price of buying a home. Even the ongoing hotel fee isn't too far off what I pay for utlities alone at my home, and also includes the hotel services.
Vegas is not alone in this concept. I know that New York does the same thing and there are similar ones when I was visiting Vancouver, Canada last weekend. Look at most premium hotels and they will often have this option available to a certain amount of their rooms.
Tl;DR: for anyone wanting to live in a hotel, it is INCREDIBLY realistic.