MGM National Harbor in Maryland won't open until 2016, but expansion plans are already being put in place.
MGM Resorts International gave some details about the planned Washington DC area resort on their second quarter earnings conference call.
MGM recently received all the necessary government approvals, and has officially started construction. Maryland based Whiting-Turner has been selected as the general contractor. DC based HKS is the design architect. Smith Group is the architect of record.
The complex will be expanded from 2.8 million to 3.3 million square feet. MGM has also modified the plans to enable even further expansion in the future if demand calls for it.
Total budget for the project has increased from $1 billion to $1.2 billion.
MGM Resorts International has high hopes for MGM National Harbor. The company expects it to be one of the most successful US resorts outside of Las Vegas.
Wednesday, August 06, 2014
Monday, August 04, 2014
The Harmon is being Dismantled
The never-opened Harmon Hotel at CityCenter is finally coming down.
The tower was deemed unsafe because of construction flaws discovered in 2008. In 2010 I speculated the building would be imploded. Then in 2011 MGM made it official by submitting an implosion plan to Clark County.
For the next three years the building's fate was held up in the court room, as MGM sought approval to take the building down.
Ultimately it was determined that a piece-by-piece dismantling would be safer than an implosion. Recently the progress has become visible, as the glass windows are being removed.
The deconstruction is expected to be complete in the summer of 2015. MGM hasn't announced what they're going to do once the demolition is complete. I've always thought that space could be used as a grand entrance way to CityCenter and Aria.
The tower was deemed unsafe because of construction flaws discovered in 2008. In 2010 I speculated the building would be imploded. Then in 2011 MGM made it official by submitting an implosion plan to Clark County.
For the next three years the building's fate was held up in the court room, as MGM sought approval to take the building down.
Ultimately it was determined that a piece-by-piece dismantling would be safer than an implosion. Recently the progress has become visible, as the glass windows are being removed.
The deconstruction is expected to be complete in the summer of 2015. MGM hasn't announced what they're going to do once the demolition is complete. I've always thought that space could be used as a grand entrance way to CityCenter and Aria.
Sunday, August 03, 2014
James Packer in North Strip Land Deal
Australian billionaire James Packer and his Crown Resorts company are looking at the Las Vegas market again. Packer has reportedly bought a piece of a loan attached to land once occupied by the New Frontier.
Crown Resorts has been successful in other markets around the world including Macau, but Las Vegas has not been as kind.
In 2007 Crown was in a partnership to build a super-tall skyscraper resort on the former Wet and Wild site, but FAA concerns and the tanking economy grounded the project.
Crown also had a minority stake in the failed Fontainebleau project. More recently Packer was said to have expressed interest in buying The Cosmopolitan. That hotel was later sold to Blackstone.
Despite the bad luck in Vegas so far, Crown is one of the largest gaming companies in the world. They need to get a piece of the Vegas market, and their success in Macau and elsewhere has put them in a position to expand.
This is more good news for the north Strip. It's becoming pretty apparent that there's going to be a resurgence in the next few years and companies are going to be jockeying for position to get in on the action.
Crown Resorts has been successful in other markets around the world including Macau, but Las Vegas has not been as kind.
In 2007 Crown was in a partnership to build a super-tall skyscraper resort on the former Wet and Wild site, but FAA concerns and the tanking economy grounded the project.
Crown also had a minority stake in the failed Fontainebleau project. More recently Packer was said to have expressed interest in buying The Cosmopolitan. That hotel was later sold to Blackstone.
Despite the bad luck in Vegas so far, Crown is one of the largest gaming companies in the world. They need to get a piece of the Vegas market, and their success in Macau and elsewhere has put them in a position to expand.
This is more good news for the north Strip. It's becoming pretty apparent that there's going to be a resurgence in the next few years and companies are going to be jockeying for position to get in on the action.
Saturday, August 02, 2014
Westgate Las Vegas Resort
The property recently known as LVH and Las Vegas Hilton before that has been sold and is now Westgate Las Vegas Resort.
Westgate is known as a timeshare company, but only a small part of the hotel will be reserved for timeshare use. The focus instead will be on improving the resort and the guest experience - according to this vegas.com article.
I've always liked this property. They have the best sportsbook in Las Vegas, and the rooms are a good value. The biggest drawback is the location, but the monorail can get you to the Strip pretty easily.
With SLS opening soon (also along the monorail) and the north Strip potentially seeing an upswing with Resorts World - Westgate could be in decent position to take advantage down the line.
It will be an uphill battle though. Westgate's location next to the convention center might be their best selling point - but at the same time could be a weakness in attracting non-convention visitors. I think the hotel has a reputation of being for business people and not a fun place to party.
Hopefully the new ownership can revitalize the place and turn things around.
Westgate is known as a timeshare company, but only a small part of the hotel will be reserved for timeshare use. The focus instead will be on improving the resort and the guest experience - according to this vegas.com article.
I've always liked this property. They have the best sportsbook in Las Vegas, and the rooms are a good value. The biggest drawback is the location, but the monorail can get you to the Strip pretty easily.
With SLS opening soon (also along the monorail) and the north Strip potentially seeing an upswing with Resorts World - Westgate could be in decent position to take advantage down the line.
It will be an uphill battle though. Westgate's location next to the convention center might be their best selling point - but at the same time could be a weakness in attracting non-convention visitors. I think the hotel has a reputation of being for business people and not a fun place to party.
Hopefully the new ownership can revitalize the place and turn things around.
Friday, August 01, 2014
Resorts World Las Vegas
I haven't had a chance to blog about Resorts World Las Vegas - so here goes.
The Stardust was imploded in 2006 to make room for Echelon - a huge resort project with multiple hotel and condo elements. Simply put Echelon was going to be the north Strip's version of CityCenter. When construction started the economy crashed and Boyd had the foresight to halt the project early. The project sat dormant for a few years until March 2013 when Boyd announced they had sold the Echelon land to Genting Group for $350 million.
Genting is a large Malaysian company with properties all over the world. They do have a presence in the United States having opened Resorts World New York a few years ago at Aqueduct.
Resorts World Las Vegas is going to be built on the existing Echelon layout. It is expected to open in phases, starting out with 3,000 rooms with the potential to double that down the road. Some other family friendly features like an indoor water park and a panda exhibit have also been mentioned.
The resort is going to have a strong Asian theme, which is refreshing since most Vegas hotels are moving away from themed spaces. The family friendly aspect of the resort is also different, but makes sense considering it will be catering to international families on vacation.
Work behind the scenes is well underway, with visible construction set to begin any day now. I'm definitely looking forward to keeping tabs on the progress.
Rendering: Wikimedia.
The Stardust was imploded in 2006 to make room for Echelon - a huge resort project with multiple hotel and condo elements. Simply put Echelon was going to be the north Strip's version of CityCenter. When construction started the economy crashed and Boyd had the foresight to halt the project early. The project sat dormant for a few years until March 2013 when Boyd announced they had sold the Echelon land to Genting Group for $350 million.
Genting is a large Malaysian company with properties all over the world. They do have a presence in the United States having opened Resorts World New York a few years ago at Aqueduct.
Resorts World Las Vegas is going to be built on the existing Echelon layout. It is expected to open in phases, starting out with 3,000 rooms with the potential to double that down the road. Some other family friendly features like an indoor water park and a panda exhibit have also been mentioned.
The resort is going to have a strong Asian theme, which is refreshing since most Vegas hotels are moving away from themed spaces. The family friendly aspect of the resort is also different, but makes sense considering it will be catering to international families on vacation.
Work behind the scenes is well underway, with visible construction set to begin any day now. I'm definitely looking forward to keeping tabs on the progress.
Rendering: Wikimedia.
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