Monte Carlo Las Vegas Rebranding & Renovation
Las Vegas is constantly upgrading, updating and innovating. We have seen this in the past with the birth of so called “megaresorts” and now most recently with a move to non-gaming experiences. An example of this is the Linq mall anchored by the High Roller Observation Wheel and Steve Wynn’s proposed lagoon that is to be built on the site of that resort’s golf course.
When Linq was built, the adjacent Imperial Palace (and then the Quad) was renovated and eventually named Linq as well to bring synergy between the projects. It now seems that the same is going to happen with the Monte Carlo. A couple of months ago The Park dining and entertainment district opened up between the Monte Carlo and New York New York. It leads from the Strip all the way down to T-Mobile Arena. (Which may be getting an NHL hockey team!) With the Park firmly open and thriving, Monte Carlo will be changing to Park MGM.
Park MGM Details – Two Hotels & More
This $450 million renovation and re-branding will actually see the current 3,000 room Monte Carlo split into two hotels. The Park MGM will have 2,700 rooms and “target a younger, well-traveled demographic seeking unique experiences and innovative design” according to the companies press release. Park MGM will incorporate the European influences of the current Monte Carlo while also tying into the Park next door.
In addition to Park MGM, the rest of the property will be converted into The NoMad Las Vegas. MGM Resorts is partnering with Sydell Group to bring this concept that has been successful in New York over to Las Vegas. The NoMad Las Vegas will have a total of 292 rooms and suites and will also feature a dedicated drop off, lobby and swimming pool.
As part of the $450 million renovation, MGM Resorts and Sydell will bring new gaming, dining and shopping experiences to the project. Among them will be Chef Daniel Humm’s NoMad Restaurant. The press release also mentions that several other dining concepts will debut at the property which is set to conclude renovations in late 2018.
It seems that a lot of the details are still being worked out, but overall I think this is a good move. Monte Carlo is connected via tram to City Center and Bellagio and it always seemed very down market compared to those properties. New York New York is down market enough, so tying these two luxury brands into the very nice Park entertainment district is a good move.
I stayed at the Monte Carlo last year and the rooms are very dated. While the name may indicate it is a luxury property, it was never actually built to fill that segment, so the companies have a big job ahead of them to complete this transformation. Rooms aren’t overly large and the bathrooms are fairly basic. I can’t wait to see how it will all turn out.
Some would argue that Las Vegas doesn’t need yet another luxury property on the Strip, but market dynamics say otherwise. The Monte Carlo has always been a nondescript uninspired property in my eyes and I think this renovation combined with the Park and the 5,000 seat theater currently under construction will make this one of the more interesting and popular properties on the Las Vegas Strip. Now we just need to know how much the price of parking will go up to cover the cost of this renovation. 😉
What do you think?