CityCenter Holdings, LLC a venture between MGM Resorts International and Infinity World Development Corp, today announced that it has entered into a definitive agreement to sell the Mandarin Oriental Las Vegas and adjacent retail parcels for approximately $214 million in cash. The transaction is expected to close in the summer of 2018.
The buyer was not disclosed.
The 47-story Mandarin Oriental, located at the entryway of CityCenter features 392 guestrooms, including 57 suites, 12,000 square feet of meeting space, five food and beverage outlets, and a two-level 27,000 square-foot spa. The property also features The Residences at the Mandarin Oriental, consisting of 225 luxury residences. The Hotel is LEED® Gold certified from the U.S. Green Building Council.
CityCenter, which is 50 percent owned by a wholly owned subsidiary of MGM Resorts International and 50 percent owned by Infinity World Development Corp (a wholly owned subsidiary of Dubai World), is a mixed-use development on the Las Vegas Strip located between the Bellagio and Monte Carlo resorts that includes ARIA Resort & Casino, a 4,004-room casino resort; Vdara Hotel and Spa, a 1,495-room luxury condominium-style hotel; and the Veer Towers, which contain 669 luxury condominium residences.
The Mandarin Oriental Las Vegas opened on December 5, 2009. The hotel holds the AAA Five Diamond Award and three Forbes Five Star Awards, one for every category.
