Ambitious stakes on Vegas with The Park MGM
Investors pour in US$5 million to transform ‘The Park’ with a glitzy line-up of new offerings.
Las Vegas is in the midst of some major revamps.Ā In just these recent years, the total construction investment has poured into āSin Cityā has totaled up to moreĀ than US$5 billion.
Some new additions to the neighborhood includes theĀ US$375 million T-Mobile arena (home venue to the Vegas Golden Knights) that unveiled in 2016, and underway plans for an NFL team (born the Oakland Raiders) to play in a glitzy, new US$2 billion stadium. And these areĀ just the athletics aspect.
The convention centre, so often swampedĀ byĀ international conferences and events, from the Consumer Electronic Show to the Roller Skating Industry Convention, is going through anĀ overhaul and expansion project that costs US$1.4 billion. Hotel mainstays, from the Palms to Caesars, are also undergoing renovations raking in atĀ nine-figures.
The latest investment gambleĀ isĀ the US$550 million revamp of the Monte Carlo hotel, which officially rebrands asĀ the Park MGM.
Announced two years ago at its 20th anniversary, this joint venture between MGM CEO Jim Murren and hotel luminary Andrew Zobler (whose hotels include Manhattanās NoMad and L.A.ās the Line) is poised to be Vegasā new entertainment and dining hub.
WithĀ 2,604 glamorous rooms designed by Jacques Garcia, 3Ā intimate pools inspired by the French Riviera, the sixth American outpost of Eataly, and more than a dozen restaurants by a whoās who of influential chefs, The Park MGM welcomesĀ big names such as Daniel Humm and Will Guidara ā of Eleven Madison Park ā and L.A. entrepreneur Roy Choi.
The unimpressiveĀ thoroughfare that leads from the old Monte Carlo to T-Mobile Arena ā will beĀ Murrenās new crown jewelĀ that he calls asĀ āThe Parkā. The outdoor equivalent of City Center is an architectural marvel filled with luxury tenants, was also the shopping centre that MGM almost defaulted in 2009.
āPeople who had done lifestyle in Vegas were using a model that was 15 years old,ā says Andrew Zobler, CEO of Sydell Group, who was introduced to MGM via his partner, investor Ron Burkle. āIt was all about what happened after midnight.ā With Park MGM, he aims to break that mould ā and several others.
Expect a look that will contrast withĀ the usual opulent style of Vegas: the Park integrates anĀ 18th century English gardens inspired design into its common area, and restaurant layouts will be broken intoĀ small roomsĀ instead of anĀ overwhelmingly large space.Ā There will be 3 poolsĀ availableĀ ā all surrounded by date palms, olive trees, and mint-green cabanasĀ āto offer more privacy to the guests instead of the usual lavishly large pool with a DJ table.
The rooms will beĀ sporting a more residential vibe, with settees in window nooks, separate sleeping and sitting areas, tastefully designed withĀ art pieces. The Park will feature much moreĀ outdoor spacesĀ andĀ the same high-touch service that the Sydell Group hotels areĀ known for ā collective efforts to createĀ a boutique-like, all-day destination that differentiates itself from the restĀ on the Strip.
Some of the classicĀ Vegas characteristics will still be retained in the Park āĀ two casinos, a high-roller suite, aĀ conference centre on the property, andĀ a 5,200-seat theatre forĀ shows presenting Cher and Lady Gaga.
The refreshedĀ complex will also houseĀ a 20,000-seat arena, an urban park, a 40-foot-tall statue of a dancing woman,Ā an 18,000-square-foot nightclub, and a full suite of fast food and casual restaurants with global names, including Shake Shack.
The revamp is also purposed toĀ attract more locals onto the strip. One of the key attraction points will be its stunning culinary lineup, including the cityās first Eataly. The post will serve upĀ a modern twist on the food courts and buffets, a hot favourite of Vegas visitors. To further expand beyond the common emphasis onĀ retailĀ intoĀ gastronomy, guests will also seeĀ marketplaces integrated into restaurants.
The Park MGM ā whose top floors will house a separate NoMad hotel ā will anchor the complex. The old Monte Carlo will be transformed into the stripās gleaming new flagship, stealing the limelight from MGMās high-end hotel BellagioĀ and the buzzingĀ Cosmopolitan.
Although the Park MGM signage has gone up, not all the features are up for debut yet. The NoMad hotel, the nightclub, Eataly and some otherĀ spaces are set to finish by the end of 2018.
UntilĀ the official opening party then, rates at the new Park MGM will still be listed as that of theĀ outdated Monte Carlo. āItās crazy cheap right now,ā jokes Zobler. āHands down, itās the best deal in Vegas.ā
Read moreĀ on happenings at The Park, the newĀ experience outdoors in Las Vegas.