Light Group, which operates a light nightclub and a Fix restaurant in Bellagio, will be running one of its boutique hotels. Lanni said that MGM Mirage will soon announce a five-star hotel operator. The company is also working with several architects on possible designs for retail spaces.
“No other city in the United States is ahead of Las Vegas in terms of the quality of meals, the quality of accommodation, the quality of entertainment,” Rani said. “What doesn’t exist on the strip is permanent residence. It attracts that living component. It creates a new core, which is the center of Las Vegas.”
Andrew Janet, a game analyst at Deutsche Bank, said the City Center will redefine MGM Mirage and Streep. “This will be central to the new vertical development in and out of the strip in Las Vegas,” Janet said. “Obviously, it will be the biggest part of MGM growth over the next 10 years or more.” 메이저 토토사이트
Hal Rothmann, a history professor at the University of Nevada, Las Vegas, said that the city center may change the demographic structure of the strip. While most resort destinations have more time sharing with condominiums than hotel rooms, Rothmann said that Las Vegas has always been a “room target.” That will change when the city center opens in late 2009.
“The city center has revolutionized the development of properties here that can give the market a reasonable share of privately owned properties,” said Rossmann. “The question is, will people live in them? I don’t know if anyone knows the answer to that yet.”
Rossman said this is an important issue because visitors who spend $250 a night to stay at its luxury resort may decide to buy one instead. If buyers rent out their condos, it could take away market share from hotels, or make resort operators take turns looking for new visitor markets.
But Lanni said the city center will add amenities to areas that are relatively underserved in sectors like retail, boosting related courses and local properties such as Aladdin, where Starwood Hotels and Resorts is planning big projects, and early Harmon Avenue Corridor, east of the strip.
“If we’re just building rooms without excitement or a cool approach, that will really weigh on the market,” Lanni said. “City centers will become a new paradigm for decades to come. It will give people more and make other properties nearby more valuable.”
Lanni said 350 of the company’s 832 strip acres are underdeveloped or underdeveloped, which translates to further development potential. Future stages of the city center could include residential development on Monte Carlo, which MGM Mirage acquired when it acquired the Mandalay Resort Group in April, and the land behind it in New York-New York.