New 531 room boutique hotel casino property to be built close to the McCarran Airport
Last Friday Las Vegas’s newest casino hotel investment, Dream Las Vegas, held a ground-breaking ceremony on the south edge of the Strip. The Las Vegas Boulevard will see a new 531 room hotel casino property built close to the McCarran Airport and The Mandalay, with a US$500 million investment scheduled to open in 2024.
The Dream Las Vegas is being developed by firms Shopoff Realty Investments and Contour to offer a smaller, boutique-style experience in a corridor dominated by massive hotel-casinos that often have thousands of rooms apiece. According to a news release, the new Las Vegas property will feature dining and nightlife venues, 12,000 square feet of meeting and event space and a 20,000-square-foot casino.
According to Jay Stein, CEO of operator Dream Hotel Group his company offers a “highly stylized product” with plenty of food-and-beverage options, stating that there are many people who enjoy Las Vegas’ entertainment without “the hotel experience”, and Dream is ready to offer an upscale destination.
Bill Shopoff, founder of the realty group, said that the smaller hotel size would differentiate the resort: “We definitely look to be different, and part of that was, let’s be boutique-size.”
The Dream Las Vegas property will have close proximity to Allegiant Stadium and to Harry Reid International Airport’s private aviation area, on the east side Las Vegas Boulevard just south of Russell Road, Dream’s roughly 5-acre plot of land is between the Pinball Hall of Fame arcade and a Harley-Davidson motorcycle dealership.
The ground-up project also marks a burst of commerce for a stretch of Las Vegas Boulevard that features megaresorts such as Mandalay Bay and Luxor on the west side of the street, and a mix of low-slung motels, retail space, vacant lots, boarded-up buildings and other sites on the east side of the street.
