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Delano Las Vegas Construction Begins In November, Targeting April 2014 Opening

By Chuckmonster on Tuesday, 6th August 2013 3:34pm
  » filed under Las Vegas  comments: 0

   

This morning, MGM Resorts International held its quarterly earnings call. It was filled with back patting and many congratulations by institutional investors... MGM didn't lose as much money this quarter as they had previously.

MGM's debt is now at $12.6B, roughly half of Caesars and 35% more than Las Vegas Sands Corp.

Company CEO Jim Murren attributed the lessening loss to CAPEX (capital expenditures - reinvesting into hotels) specifically room renovations and food and beverage upgrades at Bellagio, MGM Grand and Mandalay Bay.

As part of Mandalay Bay's "Redefining Resort" renovation, THEhotel will be transformed into Delano Las Vegas. The Delano (pronounced DEL-uh-no) will be managed by Morgans Hotel Group, 90% owner of Las Vegas F&B/nightlife operator Light Group.

When discussing the project, Murren stated that construction on Delano will begin in November 2013, with a target completion date of April 2014. Eager Delano guests should expect to see the first rooms to come on line in early December.

As an added bonus, THEhotel also redefined their resort fee to a flat $28/day, including tax.

Update: Mac78130 tells us that Delano has @DelanoVegas Twitter and Facebook accounts.








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