Houston billionaire Tilman Fertitta is in the process of acquiring property on the Strip and plans to develop an upscale hotel, according to people familiar with the matter, raising the prospect of a flashy project in the casino corridor by a high-profile mogul.
The site, at the southeast corner of Las Vegas Boulevard and Harmon Avenue, spans about 6 acres, and sources said Fertitta is acquiring the spread for more than $200 million. It currently features retail and restaurant space and a Travelodge motel.
The property also is across from the flashy CityCenter complex – home of the Aria, Vdara and Waldorf Astoria Las Vegas hotels, luxury mall Shops at Crystals and condo complex Veer Towers.
