Written by: Rob Opacki
The entire hotel buzz has been about the highly anticipated December opening of City Center, completely drowning out any news about the other mega resort that is set to open in September 2010. The Cosmopolitan has been under construction since 2005 with a price tag of about $4 billion. Since early 2008, the resort has experienced substantial financial woes beginning with the developers defaulting on a $760 million construction loan. Deutsche Bank which now owns the site, is rumored to have an agreement with Hilton Hotel Corp. to operate the resort under the Conrad and Hilton brands. The other major rumor is Starwood buying and turning the property into the new W Las Vegas. They also hired former Caesars Palace General Manager John Unwin as CEO and Jeff Burge as CFO who formerly served as VP of Finance for Las Vegas Sands Corp. The resort features 3,000 rooms which all have a balcony/terrace, a 1,800 seat theatre, multiple nightclubs in the Adult Playground, and a lavish Beach Club that sits several stories up and overlooks Las Vegas Boulevard. Four Luxor sytle sky-beams are also to be a feature of the property.
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