CityCenter Selling Mandarin Oriental Las Vegas for $214M

CityCenter Holdings, LLC, a venture between MGM Resorts International and Infinity World Development Corp, plans to sell the 47-story Mandarin Oriental Las Vegas and adjacent retail parcels for approximately $214 million in cash, to an undisclosed buyer.

The USGBC LEED Gold-certified property is located at the entryway of the CityCenter mixed-use development in the heart of the Las Vegas Strip. The hotel features 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 transaction is expected to close in the summer of 2018, subject to satisfactory completion of due diligence and customary closing conditions.

CityCenter still owns the Aria, Vdara as well as the Veer Towers that are located between the Bellagio and Monte Carlo.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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CityCenter Selling Mandarin Oriental Las Vegas for $214M

Inside The Story

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National CRE News In Your Inbox.

CityCenter Selling Mandarin Oriental Las Vegas for $214M

Inside The Story

About Dennis Kaiser