The Las Vegas Strip has become a land where casino operators have generally decided that bigger is better.
Entertainment Caesars (CZR) – Get the report from Caesars Entertainment Inc. and MGM Resorts International (MGM) – Get MGM Resorts International Report primarily operate massive mega-resorts while Wynn Resorts (WYNN) – Get the Wynn Resorts Limited report signature property also falls into this category.
And most new construction on the Strip meets this criteria as well. Resorts World International’s new 59-story hotel tower has more than 3,000 rooms as well as an almost 120,000 square foot gaming floor – that’s two American football fields – as well as more 40 food and drink choices.
On a 4.2-mile stretch of road that features an Eiffel Tower, a Statue of Liberty and a giant version of an Egyptian pyramid, it’s hard to stand out if you don’t do something big and bold .
A new casino project, however, has paved the way on the South Las Vegas Strip and taken a different approach.
The hotel brand has a dream in Las Vegas
Dream Hotel Group operates charming hotels for which the company has a very particular philosophy.
We’ve built our entire brand around you and your perfect getaway. Inside every Dream Hotel, you’ll enjoy top-notch amenities, obsessive-compulsive service, built-in nightlife that seems to come naturally, and rare, raw energy drawn from some of the world’s most empowering cities.
We don’t just offer beds to rest you for a night or two – we offer an introduction to a whole new lifestyle. We’ll show you the best in art, architecture and design, a space for balanced health and well-being, the latest fashion and music artist collaborations, and cutting-edge technology from the comfort of your own room. I
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Caesars and MGM certainly have high-end properties in their portfolios, but this could still be an underserved market in Las Vegas. And Dream wants its new flagship hotel/casino to cater to customers who seek luxury in a smaller format.
The company opened Dream Las Vegas on Las Vegas Boulevard near the private aviation terminal at McCarran International Airport. It’s two blocks from the Allegiant Stadium and relatively close to the T-Mobile Arena. The 531-room hotel is expected to cost around $550 million and open in 2024, the Las Vegas Review-Journal reported.
“Dream Las Vegas will include seven dining and nightlife venues: a rooftop terrace, bar and lounge; three signature restaurants; two additional bar and lounge concepts on the gaming floor level; and a coffee shop at take away on the ground floor,” the hotel said. Management reported it. “In addition, it will offer 12,000 square feet of private meeting and event space, a spa, fitness center and on-site parking,”
Dream Las Vegas wants to be different
Las Vegas-based Contour and Shopoff Realty Investments will develop the project, and Contour Managing Director David Daneshforooz explained how Dream Las Vegas would stand out.
“There’s no shortage of mega-resorts in Las Vegas, but there is a lack of boutique hotels that offer a more intimate, curated experience,” Hotel Management reported.
“A dream hotel on the ground with its world-class food and beverage offerings was an obvious choice for a boutique execution at this site and will be a great addition to the Las Vegas Strip,”
Basically, Dream decided to do something that doesn’t really exist on the market. Caesars calls its Cromwell property a “boutique” hotel and also operates the Nobu Hotel inside the massive Caesars Palace complex.
But Dream Las Vegas may be able to provide a more intimate experience than anything the big name brands offer.