Luxury Resort Hotel Comparables
The following provides an overview of the anticipated competitive set for a future hotel resort development at the Site. The more recently opened properties are the Aria (as part of CityCenter) in 2009 and the Cosmopolitan in 2010 Venetian/Palazzo and Wynn/Encore opened in January and December of 2008, respectively. New ‘boutique’ entrants to the Strip opening in 2014 include The Cromwell Las Vegas, an upscale boutique property backed by Caesars Entertainment and SLS Las Vegas. It should be noted that all of the newer properties are geared toward the upper end of the market.
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In May 2015, Genting Gaming announced the ground breaking of Resorts World Las Vegas. Following this in June 2015, Crown Resorts announced the purchase of the former Frontier site for the development of Alon. These two projects will add approximately 4,000 high-end rooms to the Strip market.
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