Marriott International and Witkoff to Develop Integrated Resort and Casino, The Drew Las Vegas, Debuting EDITION Brand and Marking The Strip's first JW Marriott
February 12, 2018 11:05am
LAS VEGAS – February 12, 2018 – Marriott International, Inc. (NASDAQ: MAR) and global development firm Witkoff announced today a plan to open a new resort at 2755 Las Vegas Boulevard South. Ushering in a new era of world-class hospitality, the integrated resort and casino to be named The Drew Las Vegas will debut the EDITION brand in Las Vegas and mark The Strip's first JW Marriott. Anticipated to open in late 2020, the resort will feature nearly 4,000 rooms and suites as well as over 500,000 square feet of convention and meeting space. Once open, the hotels will be managed by Marriott International.
"The Drew Las Vegas will become a landmark property for Marriott International," said Tony Capuano, EVP and Global Chief Development Officer, Marriott International. "The resort will give our more than 100 million loyalty members the chance to enjoy our brand of hospitality in one of the most exciting and popular cities in the world, whether the visit is for a convention or a leisure trip."
"With Marriott International, we have the opportunity to leverage the world's most powerful group and convention pipeline as well as an unmatched loyalty program to ensure we unlock the unparalleled value of this asset," said Witkoff Chairman and Chief Executive Officer Steven Witkoff. "This acquisition, made in partnership with New Valley LLC, is a well-designed, structurally-sound project with a significant discount to both replacement cost and the implied public market valuations of comparable Las Vegas Strip resorts."
Two Blackbirds Hospitality, led by renowned hotelier and former Cosmopolitan CEO John Unwin, will oversee the launch and operations of The Drew Las Vegas. As an integrated resort, The Drew Las Vegas will be home to a broad offering including a casino, luxury hotels, together with convention facilities, entertainment, nightlife, retail and dining curated into one cohesive guest experience.
Tags: marriott international, inc.,
the drew las vegas,
Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 6,500 properties in 30 leading hotel brands spanning 127 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company also operates award-winning loyalty programs: Marriott Rewards®, which includes The Ritz-Carlton Rewards®, and Starwood Preferred Guest®. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.
Contact: Matthew Chudoba
Witkoff Group is a privately held, global real estate development and investment firm headquartered in New York City. Founded by Steven Witkoff in 1997, the firm is a market leader in the ownership and development of premier residential, hospitality, office, retail, and mixed-use projects in major cities both in the United States and abroad. Witkoff specializes in identifying and acquiring undervalued properties in key central business district locations as well as assets with strong repositioning potential in gateway markets. Leveraging a vertically integrated, operationally focused approach to project development, with in-house teams focused on acquisitions, financing, design, development, construction, sales and marketing, and asset and property management, Witkoff has consistently executed creative strategies across diverse asset classes.
Founded by global real estate developer Steve Witkoff and hospitality executives John Unwin and Stephen Singer, Two Blackbirds Hospitality specializes in creating brand personalities where a sense of belonging is cultivated for guests and staff alike. Through a combination of vision, strategy and insight into consumers and markets, Two Blackbirds Hospitality shapes the success and business performance of powerful brands and guest experiences in the US and beyond.
Marriott’s Expansion in the Middle East & Africa Aims to Increase Portfolio by 50 Percent and Debut Additional Brands
Marriott International Collaborates With Local Hotel Adventures on New Boutique Property Hotel Bella Grace Set to Open Late Spring
Marriott International Set to Debut Nearly 40 Luxury Hotels Across Eight Distinct Luxury Brands in 2018
Marriott and YTL Hotels Sign Agreements to Develop JW Marriott and EDITION Hotels in Malaysia
Ian Schrager Partners with Marriott International to Launch Seven New EDITION Hotels in 2018
Witkoff & New Valley LLC Celebrate Topping Out of The West Hollywood EDITION Hotel and Residences
Witkoff, Together with New Valley LLC, Acquires “Undervalued” Las Vegas Hotel, Formerly Known as the Fountainbleau, for $600 Million
Marriott International Plans to Double Its Luxury Brand Footprint in Asia with Addition of More Than 100 Hotels by 2021
JW Marriott Phu Quoc, Emerald Bay Debuts on Vietnam’s Southern Coast
U.S. Clears Marriott to Engage in Business Development in Cuba
Starwood Determines Anbang Proposal Superior; Notifies Marriott of Intention to Terminate Merger Agreement
Marriott International Reaffirms Commitment to Merge with Starwood Hotels and Resorts Worldwide
Marriott, Ian Schrager and Dubai Properties Plan Second EDITION Hotel in United Arab Emirates
Marriott International and Ian Schrager to Debut The Reykjavik EDITION in 2018
Tim Sheldon Tapped as Marriott’s New Caribbean and Latin America Leader
JW Marriott to Debut in Italy with March 2015 Opening of 266-key JW Marriott Venice Resort & Spa
Development Launched for EDITION Hotel & Residences in West Hollywood, CA; 2018 Opening Planned
The 170-room JW Marriott Dongdaemun Square Seoul Opens in South Korea
Marriott, Ian Schrager and The Witkoff Group to Open Second EDITION Hotel in New York City in 2017
The 297-key JW Marriott Bengaluru and the 523-key JW Marriott Hotel New Delhi Aerocity Open in India
Please login or register to post a comment.