The architectural walls behind the casino feature pictures of long-legged models, which assured visitors that the work behind the scenes will “not detour your fun.” Another sign reads, “Warning: A Bright Future.” The Las Vegas Hilton is still months away from unveiling its new look, but there’s a lot to be gained from the millions of dollars that new owners have poured into off-strip hotels.
Colony Capital paid $280 million last year to buy a 59-acre Hilton site from Caesars Entertainment. In a recent interview with In Business Las Vegas, a sister paper of the Las Vegas Sun, Resort International Chief Operating Officer Roger Wagner called the Las Vegas Hilton “the purchase of the century.””You can’t replace this building for $1 billion,” Wagner said. Built by MGM Grand founder and MGM Mirage shareholder Kirk Kerkorian, Las Vegas Hilton was home to Elvis Presley, the world’s largest hotel and residential entertainer at the time. Under Caesars Entertainment, which attempted to sell its properties to focus on better-performing strip casinos, a new resort has sprouted and stagnated on its strip in recent years.
The colony took over the Hilton Hotel at a bargain price and began establishing a five-year master plan to revitalize the property and use the land more effectively. Colony established a new holding company in July that will operate six casinos, including the Hilton Hotel. Resorts International Holdings also owns Resorts Atlantic City, and owns four properties that Harrer purchased from Caesars Entertainment and Harrus Entertainment before acquiring Caesars. These include Atlantic City Hilton, Resorts East Chicago, Resorts Tunica and Ballis Tunica. The headquarters of the casino holding company is Las Vegas Hilton.
Wagner said that since Caesars took ownership, the company has already tripled the property’s annual cash flow and revived the casino’s high roller business. Wagner is pushing to attract foreign players, especially high roller players from Latin America. And next year, it expects to create a frequent gambler program where players can earn points at the resort’s six casinos. The renovation, which is expected to cost more than $20 million, will include a new Forte-Coach, outdoor landscaping, remodeled lobby and front desk, lounge, coffee bar, and upgraded casino floor. All work is expected to be completed by the end of December.
The finished lobby will feature shiny marble imported from Italy and Spain, incandescent lamps instead of fluorescent lights, and high-end front desks with flat-screen TVs. The casino will have new carpets and new wall coverings and column finishes added while maintaining its signature crystal chandelier. Some slot machines will also be moved to make casinos easier to walk around and to make it more attractive for customers coming in from the lobby. Employees will also wear new uniforms.
Hilton’s main casino bar will be replaced by Tempo, a 100-seat futuristic bar, lounge and exclusive space for strip ultra-lounge-style high rollers. The building’s Perk Place coffee bar and deli will be replaced by Fortuna, a luxurious Starbucks-like coffee, wine, and pastry bar. The coffee bar will also offer Internet access. On the second floor, we completed an upgrade to many of Hilton’s luxury suites. The hotel’s Lanai and Director suite also has a plasma TV, new marble floors and shower, granite Vanity Tower and rain shower head, as well as a dedicated terrace. About 300 of Hilton’s 3,000 total rooms are suites. Regular rooms in the first series will be remodeled sometime next year. Wagner said there are advantages to being a private company. “If we want to do something disruptive that we think will help us in the long run, we can do so without retaliation from our shareholders,” he said.온라인카지노