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Murren: Harmon Nightmare Is Over

By Chuckmonster on Tuesday, 4th August 2015 9:27am
  » filed under Las Vegas  comments: 7

   

Today, MGM Resorts International CEO declared that the Harmon Hotel "nightmare is over" thanking CityCenter CEO Bobby Baldwin for having the botched building removed, expeditiously.

Murren went on to say that the company has lots of ideas to monetize the 2+ acre parcel that Harmon occupied. While not ready to get into specifics he mentioned that an expansion of The Crystals shopping center was a very attractive option they will explore.

Murren and MGM believe that the Crystals "is more valuable today than last quarter" and alluded that an expansion of the property will enhance its value.

So.... no new hotel. The Harmon is DEAD.

Big thanks to VT superfriend VegasGalB for sharing this pic from her office at Veer a few weeks ago.



Tagged: murren   harmon   crystals   city center   





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Comments & Discussion:

Ah, Harmon we never knew ye.

Called it......

Crystals may command high rents but I doubt those stores are turning a profit. Who else would even move in?

I rarely see anyone shopping in Crystals. It's just an air conditioned short cut for me.

I think Crystals is basically a warehouse for high end brands that want an LV strip presence and can stomach losses in the name of "luxury" brand association and exposure. It's basically a zombie mall propped up by marketing theory.

talktobrent nailed it. Most of Crystals's tenants are Beverly Hills brands that lacked a Vegas location. The problem is, the place is like planting Rodeo Drive along Hollywood Boulevard.

They could sell gold painted poop for all MGM cares... as long as they pay the gonzo rent, the landlord (MGM) is happy.



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