Fontainebleau, Now JW Marriott Las Vegas Blvd., Announces October 2023 Opening
The former Fontainebleau Las Vegas and The Drew, now currently known as JW Marriott Las Vegas Blvd., says the long-delayed Strip eyesore testament undecided inwards the autumn of 2023.
The towering 67-story sorry behemoth has been a stark reminder of the Great Recession for more than a decade. But current owners of the unfinished Las Vegas Strip gambling casino holiday resort say the dimension testament follow completed over the next 2 years, and receive its number 1 guests inward October 2023.
Koch Real Estate Investments, a subsidiary of Robert Koch Industries, acquired the vacant Strip complex in Feb for an undisclosed sum. Robert Koch revealed during the purchase that it had partnered with Fontainebleau Development to fill in the project.
Charles Robert Koch is chairman and CEO of the privately held Koch Industries. The 85-year-old has an estimated net worth of $45 billion, making him the 27th richest someone on the planet.
Koch Industries was founded by Charles’ begetter Fred Koch, who highly-developed a right smart to improve the method of refining profound oil into gasoline inward 1927.
Marriott Partnership
Koch Real Estate Investments and Fontainebleau Development did not immediately respond to media requests for point out regarding the property’s planned opening. The proclamation instead came from Marriott International, which has been hired past Koch and Fontainebleau to operate the resort.
Marriott International says the Strip casino “will doorkeeper inward a new propagation of Las Vegas resorts.”
We testament characteristic over 3,700 rooms and suites as swell as to a greater extent than 500,000 square feet of get together and convening space. Our resort hotel testament debut Marriott International’s EDITION brandmark inward Las Vegas and mark the Las Vegas Strip’s first-class honours degree JW Marriott hotel with multiple retail, spa, nightlife, pool, casino and culinary experiences,” the Marriott give up announcing the 2023 chess opening said.
“EDITION testament lineament 900+ rooms and suites placed on higher floors, with stunning views of the Las Vegas Strip and surrounding valley. JW Marriott Las Vegas Blvd is the only if structured resort hotel connected to the new Las Vegas Convention Center elaboration via a walker sky bridge,” the release added.
Third Time’s a Charm?
Fontainebleau Development existence involved in the troubled Strip undertaking’s mop up brings the externalise full-circle, as Fontainebleau possessor Jeffrey Soffer was the pilot visionary in arrears the drab structure.
Fontainebleau paid $97 meg for a 3.6-acre lot on the Strip inwards Mar of 2005. The companionship proclaimed plans to make a gambling casino resort hotel with 2,900 hotel rooms and 95,000 square feet of gaming space.
But as the Great Recession approached, the externalise went belly-up(p) after Bank of America halted its lending. Billionaire Carl Icahn purchased the unfinished bodily structure in 2009 for $150 1000000 and never resumed construction.
New House of York tangible estate developer Steve Witkoff bought the belongings from Icahn inwards Aug of 2017 for $600 million. Another crisis — COVID-19 — led to Witkoff beingness unable to nail the resort. Witkoff was to nominate after his son Drew, who died inwards 2011 at the age of 22 from an OxyContin overdose.
JW Marriott Las Vegas Blvd. will live the property’s 3rd branding try at bringing the anatomical structure to completion. The recent chess opening of the $4.3 one thousand million Resorts World Las Vegas simply SW crossways the Strip from JW Marriott Las Vegas Blvd. is expected to bring forth some fervour on the Strip’s northern end.
“We are excited to live a parting of the greening and the resurgence of the northerly destruction of the Las Vegas Strip,” said Brett Mufson, president and chief investiture ship's officer of Fontainebleau Development.