Industry Competitiveness Increases in Vegas as Hotel Renovations Continue in 2014

Roughly $2 billion in new hotels and renovations in 2013 will continue into 2014 as travel and tourism competitiveness increases in Las Vegas.

According to The Philadelphia Inquirer, casino hotels along the Strip have remodeled, refurbished, or rebranded; included more amenities and chefs; or, built a hotel inside a hotel.

"What makes Las Vegas a premier tourist destination is the fact that it is always changing, adding new attractions, and enhancing older ones with the goal of providing guests with a new or different experience with each visit," said Kevin Bagger, senior director of strategic research and analytics, at Las Vegas Convention and Visitors Authority.

“Las Vegas has long been more than a gaming destination, and there’s no other place that can match the overall value and variety of experiences in Vegas,” he said. “Recent [hotel] renovations are part of the ongoing evolution of Las Vegas over the years to offer a diverse collection of amenities that appeal to a wide range of guests.”

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As of March, the room count in Vegas was 150,454, and is expected to increase to 153, 373 by 2014. Opened in October, the $100 million Downtown Grand Las Vegas is one of the new hotels that hold 634 rooms. The hotel was formerly known as Lady Luck Hotel & Casino.

Rebranding the Sahara Hotel Casino, the $400 million SLS Las Vegas will be completed in Fall 2014. The luxury boutique hotel and casino includes 1,600 guest rooms and suites, meeting space measuring at 30,000 square feet, restaurants and nightlife.

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MGM Resorts Inc. also recently renovated the MGM Grand and Bellagio. The $160 million redesign of the MGM Grand offers 4,200 guest rooms and suites in the main tower, along with new bars, restaurants, nightclub and more. The company also invested $110 million to renovate the Bellagio’s 4,000 rooms. Set to open in the third quarter of 2014, THEhotel at Mandalay Bay will change into Delano Las Vegas.
MGM Resorts spokeswoman, Jenn Michaels, said that over 60 percent of the company’s Vegas revenue is from non-gaming activities, including overnight stays.

For the past 3 years, Caesars Entertainment Inc. has invested $1 billion in new hotels and developing existing ones in Vegas, including a $32 million renovation of the 756-room Bally Las Vegas.

The company also completed a $30 million renovation of the 181-room-and-suite Nobu Hotel at Caesars Palace, where chef Nobu Matsuhisa offers in-room dining. The average daily rate is $249 weekday and $349 weekend.

Caesars Entertainment will debut a $185 million stand-alone boutique where Bill’s Gamblin’ Hall & Saloon used to be. The 188-room and suites hotel has yet to be named.