LAS VEGAS-Marriott International on Thursday acknowledged itsacquisition of nearly an entire block across from the Las VegasConvention Center. Two-and-a-half months after GlobeSt.com broke thestory, company EVP Arne Sorenson says the company has spent$230 million accumulating 16 acres across Paradise Road from theLVCC and is working on plans for a 3,500-room casino-resort with500,000 sf of meeting space. The company hopes to startconstruction this time next year and open in the second half of2011.

“We have a broad convention hotel network and Las Vegas is animportant, high-demand group market where we are not adequatelyrepresented,” Sorenson said during the company's quarterlyconference call. “We are working with a possible partner on aproject and do not plan to build it on our balance sheet, nor do weexpect to ultimately manage the casino.”

The properties are all located on the block bound by ConventionCenter Drive, Paradise Road, East Desert Inn Road and DebbieReynolds Drive. Immediately to the west, across Paradise Road, isthe Las Vegas Convention Center. Immediately to the south, acrossEast Desert Inn Road, is the Wynn Las Vegas Golf Club.