Luxury Resort Hotel Comparables
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Luxury Resort Hotel Comparables
The following provides an overview of the anticipated competitive set
for a future hotel resort development at the Site. The more recently
opened properties are the Aria (as part of CityCenter) in 2009 and the
Cosmopolitan in 2010 Venetian/Palazzo and Wynn/Encore opened in
January and December of 2008, respectively. New ‘boutique’ entrants
to the Strip opening in 2014 include The Cromwell Las Vegas, an
upscale boutique property backed by Caesars Entertainment and SLS
Las Vegas. It should be noted that all of the newer properties are
geared toward the upper end of the market.
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In May 2015, Genting Gaming announced the ground breaking
of Resorts World Las Vegas. Following this in June 2015, Crown
Resorts announced the purchase of the former Frontier site for the
development of Alon. These two projects will add approximately
4,000 high-end rooms to the Strip market.
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