November 30, 2021

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Former Fontainebleau scheduled to open up in 2023 as JW Marriott

3 min read

Just after towering above the Strip for more than a ten years, the unfinished previous Fontainebleau has a different penciled debut.

Marriott International’s internet site states the prolonged-stalled lodge-on line casino, which it phone calls the JW Marriott Las Vegas Blvd., will open in October 2023. The significant north Strip vacation resort will feature 3,700-plus rooms, extra than 500,000 sq. ft of meeting and conference space, and “retail, spa, nightlife, pool, casino and culinary experiences,” the web page says.

It also claims the house will consist of a pedestrian skybridge to the recently crafted area of the Las Vegas Conference Middle.

“Prioritizing originality over conformity JW Marriott Las Vegas Blvd will usher in a new era of Las Vegas resorts,” the site declares.

Designs were unveiled far more than 3 many years ago for a JW Marriott at the 60-moreover-tale house, even though it could not be verified this 7 days how long the slide 2023 debut has been stated on the hotel chain’s website. Additionally, the building’s owners nonetheless haven’t announced when the resort will open.

Even now, the day noticed on line is the most recent in a string of scheduled openings for a multibillion-greenback vacation resort that stays unfinished and walled-off a dozen yrs immediately after it was supposed to debut, and soon after the at the time-bankrupt project improved fingers a number of moments.

Media contacts for Marriott did not respond to cellular phone calls and email messages this 7 days trying to get remark on the property.

A agent for undertaking operator Jeffrey Soffer’s organization, Fontainebleau Improvement, explained it does not have any updates or comments “at this time.”

Programs for the Fontainebleau were being unveiled in 2005, and the task, led by Soffer and former Las Vegas on line casino government Glenn Schaeffer, broke ground in 2007. But the genuine estate current market quickly crashed, the economic system spiraled downward, and the unfinished project went bankrupt in 2009.

Billionaire Carl Icahn obtained the assets in 2010 for all over $150 million and then bought it in 2017 for $600 million to developer Steve Witkoff and serious estate agency New Valley, a subsidiary of cigarette maker the Vector Team.

In early 2018, Witkoff and Marriott unveiled the resort’s new title, Drew Las Vegas the programs for two Marriott brand names there, JW and Version and an predicted opening in late 2020.

Witkoff, who afterwards pushed the opening to 2022, reported early very last yr that he was shut to getting a roughly $2 billion construction mortgage for the undertaking. But past March, as Las Vegas fast shut down above fears of the coronavirus outbreak, he suspended design of the resort.

In a comprehensive-circle moment, Soffer reacquired the residence in February in partnership with the true estate wing of conglomerate Koch Industries.

The new house owners acquired debt on the challenge and received ownership of the assets the similar day by a approach that allows men and women steer clear of foreclosures.

Soon after the acquisition was announced, a Marriott spokeswoman instructed the Overview-Journal that whilst the property has new entrepreneurs, “nothing has transformed with regard to our purpose in this project.”

“Marriott remains the hotel operator and we have two models — the Version and the JW Marriott — that are a portion of this vacation resort and casino elaborate,” she reported at the time.

Soffer and Koch have not announced when they anticipate to resume construction or open the vacation resort.

Call Eli Segall at [email protected] or 702-383-0342. Adhere to @eli_segall on Twitter.

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