X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LAS VEGAS-Nearly two years after breaking ground for the project, Wynn Resorts says it remains on schedule for a December opening of its 2,034-room Encore Suites resort addition to Wynn Las Vegas. The Encore Suites resort amenities include a 72,000-sf casino, five new restaurants; 11 retail outlets; seven bars and lounges; a nightclub; a spa/salon, and 60,000 sf of meeting space.

The Encore Suites resort is designed to look very much like the first phase, which has 2,716 rooms anchored by an 111,000-sf casino; 22 food and beverage outlets; 200,000 sf of meeting space; 74,000-sf of retail, and a Ferrari and Maserati dealership. The smallest rooms in the Encore Suites tower, at 700 sf, will be larger than those in the first phase. The VIP suites in Encore will top out at 5,800 sf.

Construction of Encore Suites commenced in the second quarter of 2006, approximately one year after the opening of the $2.7-billion first phase. The project budget for Encore is $2.1 billion, of which just under $1 billion had been spent as of the end of 2007.

Hotel occupancy at Wynn Las Vegas averaged 96% in 2007 and the average daily room rate was $300. The comparable market-wide averages are 90.4% and $132, respectively.

Not too long after Encore Suites is up and running, look for Wynn Resorts to begin redeveloping its golf course, which covers 142 acres immediately behind the 50-acre resort. “We are developing a long-range master plan for the golf course,” Wynn states in its annual report filed with the SEC last week. “It is not expected that any construction on the golf course land would begin before 2009.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.