Two Way Hard Three | Las Vegas Casino & Design Blog
March 23, 2008
Related Joins Bidding on Cosmopolitan
Posted by HunterAccording to the WSJ (sorry, registration required), the Related Companies, no stranger to distressed Vegas developments, is looking at the Cosmopolitan project.
http://online.wsj.com/article/SB120613069739055703.html?mod=hpp_us_whats_news
Thanks to Brian for the tip! Happy Easter!
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Recent Comments
- All Recent Comments on one page.
- Dave recently commented "I like the bit about the unidentified casino operator. For the sake of arg..." in Related Joins Bidding on Cosmopolitan
- deznutz recently commented "This makes perfect sense and most likely will be a steal for the W hotel ch..." in Related Joins Bidding on Cosmopolitan
- mike_ch recently commented "Linky: <a href="http://online.wsj.com/article/SB120613069739055703.html?mod..." in Related Joins Bidding on Cosmopolitan
- PeterF recently commented "The article mentions W Hotel as being one of the partners with Related, "Re..." in Related Joins Bidding on Cosmopolitan
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Comments
The article mentions W Hotel as being one of the partners with Related, "Related, led by real-estate tycoon Stephen Ross, has teamed with Starwood Hotels and Resorts Worldwide Inc.'s W Hotel group and an unidentified casino operator to try to take over the $3.9 billion hotel-condominium and casino project." Didn't W Hotel briefly try to get a hotel/casino project going at Koval and Harmon?
Linky: http://online.wsj.com/article/SB120613069739055703.html?mod=googlenews_wsj
This makes perfect sense and most likely will be a steal for the W hotel chain! If you look at the design of the building it is easy for W to rebrand it and make it their own. How does the gaming license get passed to another owner? The failed Koval/Harmon project was mainly due to the rising construction cost. W hotel belongs on the strip and is a perfect fit. I guess we will just wait and see if they pony up the dough. Would is cost them 3.9 billion or would the be able to get it cheaper just like the housing market here in vegas?
G
I like the bit about the unidentified casino operator. For the sake of argument, let's call him Kevin Johnson. Keep his face is the shadows, do a reveal as the music gets dramatic, then a smash cut to black. Credits.
I've been watching too much Lost.