28-30 Apr 2024
Radisson Blu Hotel,
Glasgow,
|
08-08 May 2024
Hotel Melià ,
Milano ,
Italy
|
10-12 May 2024
China Import & Export Fair Complex,
Guangzhou,
China
|
13-16 May 2024
Conrad Chia Laguna Sardinia ,
Italy
|
14 May 2024
JPMorgan Chase Headquarters,
New York City,
United States
|
18-22 May 2024
The Ravenala Attitude Hotel,
Mauritius
|
23-24 May 2024
Large Hall of the Chamber of Commerce (Erbprinzenpalais),
Wiesbaden,
Germany
|
30-30 May 2024
Four Seasons Hotel George V,
Paris,
France
|
|
|
|
Marriott and Witkoff to turn unfinished Fontainebleau into integrated resort |
|
By Tom Walker 14 Feb 2018 |
A deal to develop the project has been struck between New York-based developer Steve Witkoff and hotel giant Marriott International
|
The unfinished Fontainebleau resort tower in Las Vegas, US, will finally get a new lease of life, following a deal struck between New York-based developer Steve Witkoff and hotel giant Marriott International.
Witkoff and Marriott have announced plans to turn the Fontainebleau building into an integrated resort, featuring two hotels operated under Marriott’s luxury brands The Edition and JW Marriott.
Construction work on The Fontainebleau Las Vegas tower – designed by Carlos Zapata Studio in partnership with Bergman Walls Associates – first began in February 2007, but came to a halt in 2009 following the global financial crisis the year before. The project eventually went into bankruptcy and the 60+-storey building – the tallest in Las Vegas – was often referred to as the “towering monument to the recession”.
Now, five months after acquiring the property for a reported US$600m (€485.5m, £432.5m), the Witkoff Group has revealed its plans to bring the resort back to life.
To be called The Drew, the resort is set to open in 2020 and will feature more than 4,000 bedrooms across the two hotels.
While no exact details of the facilities have been revealed, in its former iteration the Fontainebleau building was expected to include – upon completion – a 95,000 sq ft (8,800sq m) casino and a 60,000 sq ft (5,600sq m) destination spa, as well as a 3,300-seat performing arts theatre.
Whether those plans will change has been unconfirmed.
Steven Witkoff, chair and CEO of Witkoff Group, said: “With Marriott International, we have the opportunity to ensure we unlock the unparalleled value of this asset.
“This acquisition, made in partnership with New Valley LLC, is a well-designed, structurally-sound project with a significant discount to both replacement cost and the implied public market valuations of comparable Las Vegas Strip resorts.”
Two Blackbirds Hospitality, led by hotelier and former Cosmopolitan CEO John Unwin, will oversee the launch and operations of The Drew Las Vegas.
Founded in 1997, the Witkoff Group specialises in identifying, acquiring and developing what it describes as “undervalued properties” in key locations.
|
|
News |
1 to 12 of 8704 news stories |
|
|
25 Apr 2024
Kerzner International has signed deals to operate two new Siro recovery hotels in Mexico and Saudi Arabia, following the launch of the inaugural Siro property in Dubai this February. Designed to offer guests a holistic ... More
|
|
|
|
24 Apr 2024
The US spa industry is continuing its upward trajectory, achieving an unprecedented milestone with a record-breaking revenue of US$21.3 billion in 2023, surpassing the previous high of US$20.1 billion in 2022. This data stems from ... More
|
|
|
|
24 Apr 2024
Short-term incentives to exercise, such as using daily reminders, rewards or games, can lead to sustained increases in activity, according to new research. Researchers found that even a simple daily reminder encouraged people to move ... More
|
|
|
|
24 Apr 2024
Spa and wellness veteran Shannon Malave has been named spa director at iconic US spa destination Mohonk Mountain House. Based in New York’s verdant Hudson Valley and founded in 1869, Mohonk is a historic Victorian ... More
|
|
|
|
23 Apr 2024
Six Senses Kyoto opens its doors today, marking the eco-luxury hotel and spa operator’s entry into Japan and a new addition to its urban collection. Situated in the historic Higashiyama district, the 81-key hotel is ... More
|
|
|
|
23 Apr 2024
The UAE’s first-ever Dior Spa has officially launched at The Lana, Dubai – the Dorchester Collection’s debut property in the Middle East. Bathed in natural daylight on the hotel’s 29th floor, Dior Spa The Lana ... More
|
|
|
|
22 Apr 2024
The Sacred River Spa at Four Seasons Resort Bali at Sayan will reopen later this year with an all-new design plus enhanced treatments and experiences inspired by its river valley home. Nestled amid rich tropical ... More
|
|
|
|
18 Apr 2024
The Global Wellness Institute (GWI) has released new data on the US’ wellness economy, valuing it at US$1.8 trillion. According to the organisation's recent report – called The Global Wellness Economy: United States – the ... More
|
|
|
|
19 Apr 2024
UK sauna enthusiasts will converge at Galgorm Resort in Northern Ireland next week for the highly anticipated second annual UK Aufguss Championships. Hosted from 22-24, the event will see competitors from across the UK showcasing ... More
|
|
|
|
17 Apr 2024
Remedy Place, a US-based social wellness club brand, is poised for steady expansion in the coming years, with plans to open two new clubs annually moving forward Remedy Place is the brainchild of Dr Jonathan ... More
|
|
|
|
16 Apr 2024
Swiss longevity brand Clinique La Prairie (CLP) has inked a deal with Montara Hospitality Group to operate a resort at Tri Vananda – a purpose-built wellness community in Phuket, Thailand. Tri Vananda, envisioned as a ... More
|
|
|
|
15 Apr 2024
Six Senses has announced the grand opening of its first-ever property and spa in the Caribbean, called Six Senses La Sagesse. With a picturesque beachfront setting and surrounded by verdant hills, Six Senses La Sagesse ... More
|
|
|
|
|
Cariitti Oy |
Cariitti is a Finnish family business founded by Kari Ruokonen in 1998 that offers versatile
[more] |
|
|
|
|