Hyatt Flags to Fly in Las Vegas
Hyatt Hotels Corporation recently announced that a Hyatt affiliate has entered into franchise agreements with an affiliate of Dreamscape Companies LLC, which will lead the renovation of the Rio Las Vegas. The multi-phase project is expected to bring multiple Hyatt full-service offerings to Las Vegas, one of the most visited leisure, group, and convention markets in the world, in the renovated Rio hotel.
The more than 2,510-room Rio Las Vegas will be renovated and rebranded into multiple Hyatt full-service brand flags and will undergo a redevelopment of the current public spaces, including gaming, retail, food and beverage, spa and fitness, and pool recreation deck. In addition, the Rio Las Vegas will undergo a renovation of one of the hotel’s existing towers, and upon completion, the tower is expected to become a 1,501-room Hyatt Regency hotel with standard guestrooms averaging 580 square feet.
The remainder of the Rio’s guestrooms are expected to be branded or affiliated with one or more other Hyatt full-service brands after they are renovated. Beyond redefining the hotel experience for business travelers and leisure guests, the Hyatt Regency hotel and other Hyatt-affiliated hotels will welcome meetings and event business with more than 220,000 square feet of function space and state-of-the-art meeting facilities.
The Hyatt Regency hotel is expected to open in 2023. Caesars Entertainment resumed hotel operations seven days a week at the Rio All-Suite Hotel & Casino on April 19. Previously, the hotel accommodated weekend stays only, while the gaming floor has been operating 24/7 since the property reopened in December 2020 after closing due to the lockdowns last March.
Dreamscape CEO/founder Eric Birnbaum’s company announced that it had acquired the Rio for $516.3 million in September 2019. Under terms of the purchase agreement, Caesars is to manage the property for two years and pay $45 million in annualized rent.
Penn & Teller Return to Rio All-Suite Hotel & Casino
In other Rio Hotel news, Penn & Teller recently announced they will return to Rio All-Suite Hotel & Casino on April 22 in their namesake Penn & Teller Theater. The show will feature all-new content and magic as well as selections from Penn & Teller’s extensive catalog of fan favorites. Edgy, provocative and hilarious, Penn & Teller have been captivating live audiences at Rio Las Vegas since 2001 when their show originally opened. This show will be a culmination of years of on-stage experience mixed with innovative and creative twists to be enjoyed by long-time patrons and new fans alike. The full performance schedule is April 22 – 25, 29 – 30; May 1 – 2, 6 – 8, 28 – 31; June 3 – 6, 10 – 13 with all shows starting at 9 p.m