Marriott and Witkoff said they’ll open a new resort in Las Vegas. It will combine two long abandoned development projects on the Strip that were victims of the recession.
We are told we don’t know what happens in Vegas because it stays there. But we do know what wasn’t happening in Vegas.
Global hotel chain Marriott and developer Witkoff said this week that they’ll jointly open a nearly 4,000 room resort to be called The Drew Las Vegas on the site of the unfinished Fontainebleau, a $2.9 billion project abandoned in 2009 by Resorts LLC when the developers went into bankruptcy as the economy collapsed.
The 63-story tower that anchors the development is about 70 percent complete, and has been a source of consternation, sitting unfinished on the northern end of the Strip near the convention center and Circus Circus – and a sore reminder of the Great Recession’s halt on new development in Vegas.
The hotels, to be managed by Marriott, will open in 2020.
The project, which will be adjacent to an expanded Las Vegas Convention Center, but will also have its own 500,000 square feet of convention space.
“The Drew Las Vegas will become a landmark property for Marriott International,” said Tony Capuano, EVP and Global Chief Development Officer, Marriott International. “The resort will give our more than 100 million loyalty members the chance to enjoy our brand of hospitality in one of the most exciting and popular cities in the world, whether the visit is for a convention or a leisure trip.”
Two Blackbirds Hospitality will oversee the launch and operations.
Witkoff bought the unfinished property last year for $600 million from financier Carl Icahn, who had bought it out of bankruptcy.