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News 10/5/07
More details have been
released on the Marriott Marquis. The resort will have 3,500
rooms, 500,000 square feet of meeting space and (drum-roll please) a
casino. No mention was made as to the fate of the three existing
Marriott hotels on the property. I assume the Courtyard and Residence
Inn are doomed, while the Marriott Suites could remain. Time will tell.
Construction is expected
to begin in the Fall of 2008 with completion slated for the second quarter of
2011.
News 8/15/07
Marriott has been busy buying up the rest
of the block where three of their hotels now reside. Marriott now owns
that whole block (except Metropolis), that's 16 contiguous acres. They
purchased the previously leased land (under their existing hotels) as well
as the land where The Beach casino lived and a small vacant apartment
complex on Debbie Reynolds Dr. The most recent purchase was 10.6 acres
under the Residence Inn and Courtyard for $186 million ($17.5 million
per acre).
Marriott plans to work
again with Lewis Shaw (the developer that built their nearby Renaissance
hotel) to build Marriott Marquis Las Vegas on the land. This would most
likely mean that their Courtyard and Residence Inn properties would be
leveled. We don't yet know if the (10-year-old, 15-story) Marriott Suites hotel will stay
or go, but this is Las Vegas and newer hotels than that have been
imploded.
This is a prime spot for
a major convention-based hotel. A quick walk to the Las Vegas Convention
Center and monorail station, and whatever
Wynn does with his golf course when he
redevelops it.
New York and Atlanta host
the other two Marriott Marquis. Marriott's Marquis brand are high-end, high-rise properties with dramatic
open (full height) atrium lobbies. We can hope this is what's coming to
Vegas. Stay tuned for more news as details are released.
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