HotelChatter

Tags: Hotel News / → All Tags

Vegas to Spin Off Old Miami Hotel

A newly formed property group, the Fontainebleau Resorts, announced today that they will build a $1.5 billion, 4,000 room jumbo-resort on the Las Vegas Strip and it will be named after the famed hotel Fontainebleau, currently of Miami.

The Vegas hotel, which will offer condo units, will be built on the north end of the strip near the Riviera and by an old water park (ew, that's a nasty thought for Vegas.)

Former Mandalay Resort Group President Glenn Schaeffer has signed onto the Las Vegas-based company as chief executive and president.

The founder, Jeffrey Soffer is also a CEO for Turnberry Associates which just bought the Miami Fontainebleau in January.

Naturally the historic Miami Hotel will get a facelift and possibly some expansion efforts will be taken.

Fontainebleau the company will eventually will go public, according to Schaeffer.

Expect to see the West side Fontainebleau opening sometime in 2008.

Related Stories:
·   Fontainebleau in Vegas is Planned [LA Times]