Cosmopolitan Las Vegas High Rise Condo Hotel
The Cosmopolitan Las Vegas high rise condo hotel development began two years ago, when prominent real estate developer Ian Bruce Eichner was looking toward Las Vegas for his next business venture. He was interested in applying a business model that had served him well in Manhattan and Miami where he'd successfully developed more than six million square feet of urban, luxury residential, office, hospitality and retail space over the past 25 years.
The challenge was to find a prime location at the center of the Strip where I could merge the concept of a luxury condo-hotel with an equally luxurious hotel, retail, gaming, and meeting space development and the existing Las Vegas business model that was trending toward non-gaming attractions and facilities. The combination would greatly maximize real estate values in a vertical fashion, something I had successfully accomplished at The Continuum in Miami, the Manhattan Club and a multi-level retail center in Times Square, both in New York City, Eichner added.
In April 2004, Eichner partnered with SFM Capital Management and top gaming developer David Friedman to purchase 8 1/2 acres on Las Vegas Boulevard located between Bellagio and MGM Mirage's recently announced CityCenter. Their mass appeal will compliment our hip, boutique property's unique mix of fine dining restaurants, upscale retail stores, exciting nightclubs, high-end and mid-level gaming, and exclusive spa and salon. Quite frankly, we couldn't think of a better set of neighbors.
This will be the very first opportunity for a buyer to own property right on the Strip. They will be able to take an elevator from their condo-hotel unit directly to the casino floor. There's no other development on the Strip that provides condo unit owners that type of one-button accessibility to the casino.
About Hyatt
There are 213 hotels and resorts (over 90,000 rooms) in 43 countries around the world, operating under the Hyatt™, Hyatt Regency™, Grand Hyatt and Park Hyatt™ brands. Currently, there are an additional 28 Hyatt hotels and resorts under development, including 10 new hotels in China. 3700 Associates, LLC, 3900 Paradise Road, Suite U, Las Vegas, Nevada 89109.
Hyatt Corporation (domestic U.S., Canada and Caribbean hotels) and Hyatt International Corporation (international properties) are subsidiaries of Chicago-based Global Hyatt Corporation. Global Hyatt Corporation is also the owner of Hyatt Vacation Club, Inc. (timeshare), Hyatt Equities, L.L.C. (hotel ownership), and U.S. Franchise Systems, Inc. (which franchises Hawthorn Suites, Microtel and America's Best Inns & Suites).
In January 2005, Global Hyatt Corporation also added an additional 143 U.S. properties to its growing portfolio with the acquisition of the upscale, limited service AmeriSuites hotel chain. These properties will be repositioned and renamed under a new Hyatt brand by early 2006.
