CityCenter Holdings Enters Into Definitive Agreement to Sell the Mandarin Oriental Las Vegas for $214 Million
April 26, 2018 11:39am
LAS VEGAS, April 26, 2018 -- CityCenter Holdings, LLC ("CityCenter"), a venture between MGM Resorts International (NYSE: MGM) and Infinity World Development Corp, today announced that it has recently entered into a definitive agreement to sell the Mandarin Oriental Las Vegas (the "Hotel") and adjacent retail parcels for approximately $214 million in cash, subject to satisfactory completion of due diligence and customary closing conditions. The transaction is expected to close in the summer of 2018.
The Hotel is located at the entryway of CityCenter and in the heart of the Las Vegas Strip featuring 392 guestrooms, including 57 suites, 12,000 square feet of meeting space, five food and beverage outlets, and a two-level 27,000 square-foot spa. The Hotel is LEED® Gold certified from the U.S. Green Building Council.
Tags: citycenter holdings, llc,
mgm resorts international,
infinity world development corp,
mandarin oriental las vegas
CityCenter, which is 50% owned by a wholly owned subsidiary of MGM Resorts International and 50% owned by Infinity World Development Corp (a wholly owned subsidiary of Dubai World), is a mixed-use development on the Las Vegas Strip located between the Bellagio and Monte Carlo resorts that includes ARIA Resort & Casino, a 4,004-room casino resort; Vdara Hotel and Spa, a 1,495-room luxury condominium-style hotel; and the Veer Towers, which contain 669 luxury condominium residences.
Contact: Catherine Park
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