Mandarin Oriental Hotel Group received notice of termination of its management agreement for Mandarin Oriental, Las Vegas and will cease management of the hotel on Aug. 30, 2018.
The termination is consequent to the sale of the hotel by CityCenter Holdings, a joint venture between MGM Resorts and Infinity World Development Corporation. CityCenter Holdings sold the property for $214 million to an undisclosed buyer.
Mandarin Oriental launched the property in 2009 and established it as a market leader in the city. The hotel is one of only 13 properties around the world to have received the Triple Forbes Five Star Award – three five stars for the hotel, the spa and signature restaurant, which it has received for seven consecutive years.
“Mandarin Oriental currently has 16 hotel projects under development and remains committed to growing its portfolio globally,” James Riley, group chief executive at Mandarin Oriental Hotel Group, said in a statement.
The 392-room Mandarin Oriental, Las Vegas opened Dec. 5, 2009. The property was designed by Kohn Pedersen Fox architects, and includes five restaurants and bars, a spa, more than 12,000 square feet of meeting and event space, an outdoor pool area and a fitness center.
Mandarin Oriental Hotel Group is owner and operator of some of the world’s most luxurious hotels, resorts and residences. Having grown from its Asian roots into a global brand, the group now operates 31 hotels and eight residences in 21 countries and territories. Mandarin Oriental is a member of the Jardine Matheson Group.