Meeting News - March 23, 2009 - (Page 36)

Destination Insider: Las Vegas Edited by William Ng william.ng@nielsen.com Property Developers Shuffling the Deck For capital projects, some halt, some pause, while others march to completion By Heidi Waldrop Bay idential units; Veer Towers, with 670 residential Both development and renovation projects con- units in two towers; the 1,495-room Vdara tinue to come and go in the landscape of an condo-hotel tower; and the Crystals retail and unsettled Las Vegas. Earlier this month, the Las entertainment complex, with approximately 76 Vegas Convention and Visitors Authority high-end boutiques, dining, and entertainment announced the suspension of the $890 million venues. expansion and renovation of the Las Vegas Con“In taking these steps related to the Harmon, vention Center due to the economy. we can remain focused on maximizing the oper“All projects that have begun will be complet- ating performance of Aria, Mandarin, and ed—most by the end of this year,” said LVCVA Vdara to their desired levels,” said Robert Baldspokesman Jeremy Handel. “We will evaluate the [construction] program in the second quarter of 2010 to determine if, or when, it is prudent to resume.” Among the projects to be finished at the center are the construction of new restrooms in the central hall, a new data command center, telecommunications infrastructure upgrades, a variety of basic infrastructure improvements, and construction of a Clark County fire station and a Las Despite an economy and Las Vegas market that are both struggling, the Hard Rock Hotel & Casino is pressing on with a $750 million upgrade project, which will produce significantly more group space. Vegas Metropolitan Police Department command station. win, president and CEO of CityCenter. nal reported that construction has stopped on a MGM Mirage has announced changes to its At Caesars Palace, part, but not all, of a $1 bil- portion of the Cosmopolitan Casino Resort’s $9.2 billion CityCenter project, with the post- lion upgrade project under way will be complet- west tower, as some floors go through a redesign. ponement of the 440-room Harmon Hotel & ed as planned later this year. The approximately It was also reported that Deutsche Bank, which Spa and the cancellation of the Harmon’s 200- 660 rooms in the Octavius Tower expansion will owns the $3.9 billion project, signed an agreeunit condominium component. Rather than be delayed indefinitely, but the 110,000 sf of new ment to let Hilton Hotels Corp. operate the opening with the rest of the CityCenter complex meeting, ballroom, and exhibit space will open property. The 2,998-unit condo-hotel is schedthis December, the Harmon is now scheduled to this summer, as slated. uled to open in the second quarter of 2010, on open in late 2010, at a price tag of $600 million “We are seeing a strong demand for our con- 9.5 acres between CityCenter and the Bellagio. (up from $400 million). vention space and have already secured a signifAll this development news comes on the heels The rest of the CityCenter complex remains icant amount of business for the new space,” of setbacks in the city announced last fall: The on schedule, including the 4,000-room Aria said Michael Massari, vice president of meeting $2.5 billion W Las Vegas Hotel Casino and ResResort & Casino; the Mandarin Oriental Hotel sales and operations for Las Vegas Meetings by idences was cancelled; ground-breaking on the & Residences, with 400 hotel rooms and 227 res- Harrah’s Entertainment, which is responsible for Plaza Hotel project did not happen last year, but 36 MeetingNews March 23, 2009 www.meetingnews.com group business in Harrah’s seven Las Vegas properties: Caesars Palace, Bally’s, Flamingo, the Harrah’s-brand property, Imperial Palace, Paris, and Rio. Said Massari, “We remain focused on meeting planners’ needs, and we’re looking forward to helping planners execute great meetings in the expanded facilities.” Included in Caesars Palace’s meeting space expansion will be two 52,000-sf ballrooms with extensive breakout capabilities, numerous meeting rooms, and two boardrooms—all overlooking the Garden of the Gods pool. The additions will increase the property’s total meetings capacity to 300,000 sf. Earlier this month, the Las Vegas Review-Jour- http://www.vegasmeansbusiness.com http://www.meetingnews.com

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Meeting News - March 23, 2009 Contents What’s Up @ MeetingNews.com Meetings Mean Business As 'Meeting Matter' Marriott Unveils Promo Columbus, OH, Addresses Convention Hotel Issues People Making News Orlando Strives for Cost Transparency Is Biz-Class Air Travel Dead? Greenest Planner Awards Mid America Insider Report: Conference Centers Destination Insider: Mississippi Gulf Coast Las Vegas Destination Insider: Cleveland Ad Index Live from the Forum

Meeting News - March 23, 2009

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