Bally’s Las Vegas, formerly the MGM Grand Hotel and Casino, is a hotel and casino on the Las Vegas Strip in Paradise, Nevada, owned and operated by Caesars Entertainment. The hotel features 2,814 extra-sized guestrooms that are 450 sq ft (42 m2) or larger and over 175,000 sq ft (16,300 m2) of banquet and meeting space. The casino occupies 67,000 sq ft (6,200 m2). About 75% of the rooms are in the North Tower, and were renovated in 2004. The remaining rooms are located in the newer South Tower, constructed in 1981, Caesars Entertainment announced in Spring 2013 that they were going to fully renovate that tower and rename it “Jubilee” Tower by the end of 2013. The name inspired by their production show of course being Jubilee. Continue reading
Abandoned by the company that proposed it and left for dead by many observers, the massive Gaylord Aurora convention hotel project has found a second shot at life.
Aurora officials told the Colorado Economic Development Commission on Thursday that Area Property Partners of New York will arrange financing for the $824 million project and that Rida Development Corp. of Houston will develop the 1,500-room hotel.
“We never gave up,” said Wendy Mitchell, president and CEO of the Aurora Economic Development Council.
Marriott International, which will manage the property in conjunction with four existing Gaylord convention hotels, was key to getting the stalled project going.
Rida and Area are developing a $350 million, 1,000-room hotel in Houston that will operate as a Marriott Marquis. They also financed and built the 1,400-room Hilton Orlando and renovated a 1,200-room Hyatt Regency in New Orleans after Hurricane Katrina.
“They are both strong companies, plus coupled with Marriott, it makes a good three-part team to move the project forward,” said Kenneth Free, owner of Straightline Advisors, which provides consulting services on developing hospitality real estate.
Still, Free said the project is a large one and carries substantial risks.