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There's always some crazy news out of Las Vegas these days but we were a bit stunned this morning to hear that Blackstone Real Estate had purchased The Cosmopolitan Las Vegas from Deutsche Bank for about $1.73 billion. That's a lot of cash!
But does this mean The Cosmopolitan will stop being an Autograph Collection Hotel by Marriott?
The chances of The Cosmo moving from a Marriott to a Hilton entity are extremely likely as the Blackstone Group pretty much owns Hilton Hotels. Yet Blackstone's real estate division, which is responsible for the purchase of the Cosmo, has a diversified portfolio, which also includes, according to the Las Vegas Review-Journal, a percentage in Caesars Entertainment. Innnnteresting.
If Cosmo does move from Marriott to Hilton, we don't think it will happen immediately and we are sure Cosmopolitan will keep its Identity, not just the players reward club, but its cool kid persona which had made it a premiere casino resort on The Strip.