A new luxury brand is coming to the Las Vegas Strip.
As we reported earlier this week, Mandarin Oriental Hotel Group received notice of termination of its management agreement for Mandarin Oriental, Las Vegas, following 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, and the management agreement will end later this summer.
After a day of rumors swirling on Twitter, Hilton confirmed that Waldorf Astoria will assume full operation of the property, with plans to "re-imagine and renovate the hotel with brand touches and improvements."
Thank you for the kind mention! We couldn't be more excited to open our doors in such a fantastic location.— Waldorf Astoria (@WaldorfAstoria) May 16, 2018
When the property opens as the Waldorf Astoria Las Vegas it will be the brand’s first property in the market.
“We are thrilled to announce the addition of a Waldorf Astoria in the western part of the U.S., and in the heart of such a dynamic, internationally beloved city like Las Vegas,” Martin Rinck, global head, Luxury & Lifestyle Group, Hilton, said in a statement. “Paired with the recently opened Waldorf Astoria Beverly Hills and the brand’s recently announced properties in San Francisco and Antigua, the signing of Waldorf Astoria Las Vegas builds on the brand’s exciting trajectory and impressive growth story.” Following the "tremendous success" of the Waldorf Astoria Beverly Hills, Rinck continued, the company was seeking another property in the western U.S.
Boom. Hearing from two sources Mandarin Oriental will be Waldorf Astoria, a Hilton brand.— Vital Vegas (@VitalVegas) May 16, 2018
As soon as the rumors were posted, fans weighed in with their thoughts.
As premium as the Waldorf-Astoria brand is, that is definitely a downgrade from a Mandarin Oriental. The Mandarin Oriental brand isn’t one a huge percentage of Americans are that familiar with but internationally it is arguably the highest regarded hotel brand in the world.— WTC (@wtcgroup) May 16, 2018
That would be cool. Las Vegas and Waldorf Astoria sounds like opposites but we need a high-end brand or two in town.— Sheffield Spice&Tea (@SheffieldSpice) May 16, 2018
While there has been no official announcement of a buyer for the Mandarin Oriental, the Vital Vegas blog has suggested that it could be the owner of Hilton Lake Las Vegas, real estate investor “Ronnie” Lam and his Kam Sang Co. Employees attending the Aria ballroom event were reportedly informed that the buyer is an “Asian investor.” A $50-million renovation will accompany the change in ownership.