Will The Drew Hotel Succeed in Las Vegas?

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Fontainebleau broke ground in 2007, bankrupt in 2009. Sold to billionaire Carl Icahn for $150 million in 2010. Icahn sold in August, 2017 for $600 million to New York Developer Steve Witkoff.

Marriott will manage The Drew Hotel when it opens in late 2020. The Drew will have around 4,000 rooms, be over 60 stories tall and have over 500,000 square feet of convention space.

The hotel was thought to be named "The Drew" after Witkoff's son, and possibly for other marketing reasons. Will The Drew survive the next couple years of construction and have a successful opening? There are other projects taking place on the north end of Las Vegas Blvd. like Wynn Resorts building Paradise Park behind Wynn and Encore. Wynn Resorts also has plans for Wynn West, and Resorts World is expected to open their Asian themed hotel in 2020 as well. Tourism went down in 2017 compared to 2016, 2015 and 2014. If tourism and/or the economy continue to decline, then it could be a bad time for The Drew to be opening its doors to the public.

Las Vegas Visiting Tourist Numbers
https://www.statista.com/statistics/221042/visitors-to-las-vegas/

Fontainebleau on Las Vegas Strip has new name and opening date
https://www.reviewjournal.com/business/casinos-gaming/fontainebleau-on-las-vegas-strip-has-new-name-and-opening-date/

Will The Drew Hotel Succeed in Las Vegas?
https://www.youtube.com/watch?v=31bAH6qeC5Y&feature=youtu.be
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Category
Jacobs life in Vegas
Tags
fontainebleau las vegas, The Drew las vegas, the drew hotel las vegas
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