Marriott, Witkoff to convert former Fontainebleau to The Drew Las Vegas

The famed Fontainebleau Las Vegas is coming back as The Drew. In August 2017, after seeking a buyer for nearly two years, Las Vegas’ Fontainebleau was sold to a partnership led by New York development firm Witkoff for $600 million. Now, Witkoff is partnering with Marriott International to open a new resort at 2755 Las Vegas Boulevard, which will serve as Marriott’s first Edition in the city and the first JW Marriott on The Strip.

The integrated resort and casino, to be named The Drew Las Vegas, is anticipated to open in late 2020. The resort will consist of nearly 4,000 rooms and suites, as well as over 500,000 square feet of convention and meeting space. Once open, the hotels will be managed by Marriott International. 

Two Blackbirds Hospitality, led by hotelier and former Cosmopolitan CEO John Unwin, will oversee the launch and operations of The Drew Las Vegas. As an integrated resort, The Drew Las Vegas will be home to a casino and luxury hotels, together with convention facilities, entertainment, nightlife, retail and dining.

“The Drew Las Vegas will become a landmark property for Marriott International,” said Tony Capuano, EVP and global chief development officer at Marriott International, said in a statement. “The resort will give our more than 100 million loyalty members the chance to enjoy our brand of hospitality in one of the most exciting and popular cities in the world, whether the visit is for a convention or a leisure trip.” 

“With Marriott International, we have the opportunity to leverage the world’s most powerful group and convention pipeline as well as an unmatched loyalty program to ensure we unlock the unparalleled value of this asset,” Steven Witkoff, chairman and CEO of Witkoff, said in a statement. “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.”