Hotel & Resort Update

Las Vegas continues to be a dynamic construction market. Over the next 4-5 years, approximately 40,000 new hotel and motel rooms are planned or already under construction.

In January, The Palazzo celebrated its grand opening. The newest resort by Las Vegas Sands Corporation is located in the heart of the famed Las Vegas Strip.  When combined with the neighboring Venetian and Sands Expo and Convention Center, The Palazzo gives the company the largest hotel and convention complex in the world. The $1.9 billion Palazzo features more than 3,000 all-suite rooms and offers shopping, dining and entertainment on two luxurious levels. The 450,000-square- foot retail space, The Shoppes at The Palazzoâ„¢ is highlighted by Barneys New York and connected to The Venetian via The Grand Canal Shoppes.  It houses approximately 60 high-end and mid-level stores from the most recognizable brands to the hottest newcomers and unique one-of-a-kind boutiques drawn from all over the world. 

 ]Aliante Station, the latest resort project by Station Casinos and Greenspun Corporation, topped off the concrete structure of its hotel tower in November 2007. The $675 million project broke ground in late February 2007 in North Las Vegas.  The property is scheduled to open late 2008 and will feature: 202 hotel rooms; a full array of gaming offerings including table games, slots, race and sports book and poker room; six restaurants; a 16-screen Regal Cinemas movie theatre; a 700-seat entertainment showroom and meeting/convention space. Aliante Station is located on approximately 40 acres at the intersection of the 215 Beltway and Aliante Pkwy. in North Las Vegas.

Palms Place Condo Hotel and Spa broke ground in January 2006 and, after 19 months of construction, opened on February 29. Palms Place features 599 condominium-suites, from spacious studios to one-bedroom and two-bedroom suites and spectacular penthouses. Amid lush landscaping and beautiful gardens, a world-class, 50,000 square-foot pool and spa enclave boasts the first hammam in Las Vegas offering a decadent blend of ancient and contemporary treatments. The building also features the SkyTube, a moving walkway that joins the residences with the Palm’s casino, restaurants and nightlife.

The Trump International Hotel and Tower opened March 31 2008. True to the brand’s form, the property will reflect the “Ultra Luxury Trump Lifestyle” in every possible fashion. From the exterior, which will be clad in 24-carat gold glass to the elegant lobby areas and luxuriously furnished and decorated condominium hotel units, every aspect of the building will reflect the superior level of quality that is synonymous with the Trump name. Rising 64 stories, the building will house 1,232 suites and 50 penthouse suites, a world-class spa, salon and fitness center, gourmet dining at DJT Restaurant and Bar, a pool with private cabanas, indoor meeting space and a business center. Plus, Trump will offer a personal attaché service for every guest.

Luxor has announced a multi-phase enhancement plan designed to revolutionize the resort and bring new energy to the south end of the Las Vegas Strip. The evolution is slated to take place in several phases, with the first phase encompassing the casino level and the second phase encompassing changes to the property’s signature atrium and galleria areas including several retail changes, a re-branded coffee shop and new buffet. The third phase will focus on room remodeling and is planned to begin in 2009. Projects in Phase One of Luxor’s evolution include a host of sexy-chic new restaurants, lounges and nightspots, as well as a spa-like poolside lounge, redesigned casino floor and Cirque du Soleil show featuring illusionist Criss Angel.

Encore Suites, the New Luxury Resort at Wynn Las Vegas , is under way with completion expected in December 2008. The $2.2  billion hotel and casino will house approximately 2,000 rooms. The tower will house its own casino, pool, restaurants and other luxury amenities.

2009

Silverton Casino Lodge has begun a $130 million expansion project expected to be completed by early 2009. The resort will increase its public space by 35,000 square feet, add 800 slot machines, a high-limit gaming salon, a race & sports book and a poker lounge. In addition, a retail shop, three restaurants and a high-energy central bar will be constructed. Plans also call for a cutting-edge pool venue complete with five pools, 30 cabanas, a beach retreat and a stage capable of hosting headline entertainment. The property will add a 1,500-space parking garage and will redesign its existing Twin Creeks restaurant.

In 2009, the Fontainebleau Las Vegas is scheduled for a fall debut with a $2.9 billion, 63-story resort and condo-hotel with approximately 3,800 rooms. Sharing a name and parent company with the Fontainebleau Hotel in Miami, the Fontainebleau Las Vegas will occupy a 25-acre parcel of land toward the northern end of the Strip and will feature a luxurious atmosphere encompassing a 60,000 square foot spa, a 3,200-seat performing arts theatre, signature restaurants and top-tier retail.

Also in 2009, MGM MIRAGE will debut a 76-acre, $9.2 billion dollar “urban metropolis” called CityCenter. The 18 million-square foot project calls for a 57-story condo hotel with approximately 1,543 residences called Vdara. The project will also feature two residential high-rises known as Veer Towers that will feature 337 condo residences each. There will be a  Mandarin Oriental featuring 400 hotel rooms and 227 exclusive  residences, The Harmon Hotel,Spa & Residences with 207 condominium residences and 400 hotel rooms, and ARIA Resort & Casino, CityCenter’s 61-story, 4,000-room resort casino. The resort casino will feature approximately 300,000 square feet of technologically advanced mmeting and convention space as well as an 1,850-seat showroom theatre, spa, fitness center, salon and four large pools. Eighteen restaurants will serve a diverse range of cuisines and six bars and lounges, as well as a nightclub, will provide added entertainment. An automated transit system will connect CityCenter to Bellagio and Monte Carlo. CityCenter residences are now available for purchase.

Harrah’s Entertainment has announced a $1 billion expansion of Caesars Palace in Las Vegas. The centerpiece of the expansion is the luxurious new 665-room hotel tower – the Octavius Tower. The Octavius Tower will be located adjacent to a new 263,000-square foot meeting and convention center. Three new luxurious pool villa suites will be built along the second floor of the new tower and will overlook three new swimming pools that will rim an expanded outdoor whirlpool spa retreat, a poolside café and nearby garden wedding venue. The expansion is slated for completion in mid 2009. In addition to the new Octavius Tower, the resort’s existing 512-room Forum Tower will undergo a major refurbishment.

Approximately 10 miles to the south of the famous Strip, M Resort is slated for a spring 2009 opening. This $1 billion property will include 390 rooms and suites, as well as a unique, 100,000 square foot canyon-feature pool area, 60,000 square feet of meeting space and a 20,000 square foot spa. Set at an elevation 400 feet higher than most other properties in Las Vegas’ central resort corridor, M Resort will offer a view of the Strip from all its guestrooms, restaurants and lobby.

The Grand Hyatt Ls Vegas at the Cosmopolitan Resort and Casino is a $3.5 billion project scheduled for completion in late 2009. The resort is expected to have two full-service high-rise hotel and condo towers with 2,998 luxury hotel rooms, suites, penthouses and condo units. There will be 140,000 square feet of convention and meeting space, an 80,000 square foot casino, 265,000 square feet of shopping and dining, a multi-purpose theater, a spa, salon and fitness center, a nightclub, three wedding chapels and a five-acre outdoor facility with a sandy beach pool and private cabanas.