Hard Rock to expand and renovate!
The Morgans Hotel Group have finally announced their partial plans for the Hard Rock. But in those plans are no mention of the previously planned Condo/hotel rooms that previous owner Peter Morton had designed. But take hart the expansion is only going to use 8 acres of the 23 acre land parcel. They say they are still evaluating what to do with the remaining 15 acres of available land.
The expansion will involve the addition of approximately 950 guest rooms which includes a new 15 story tower on the property. The Hard Rock will also add 60,000 square feet of convention space, 35,000 sq. ft. of Casino space, 30,000 sq.ft. of new retail and a new health club and spa. This construction is scheduled for completion mid year 2009.
Besides the new they are renovating the old including the guest rooms, restaurants, bars, retail shops and common areas, and their putting in a new ultra lounge and poker room (about time). The remodel begins immediately and will finish the first quarter of 2008. They also are enlarging and renovating the pool !
The price tag for this major renovation and expansion is approximately somewhere in the big neighborhood of $150 million. The financiers have committed up to $600 million for the total Hard Rock renovation and expansion which would include the adjoining 15 acres not yet developed.
This announcement has substantial positive impact on the Related Groups property (The “W†hotel) which sits between The Hard Rock and “The Strip.â€
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