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by Michael J. Shapiro | March 09, 2011

On Monday, Caesars Palace Las Vegas and Nobu Hospitality announced plans to convert Caesars' Centurion Tower into the first Nobu Hotel. The 180-room property will mark the restaurant company's first foray into the lodging business -- and will, of course, include a Nobu restaurant and lounge, the first on the Las Vegas Strip. Under the plan, Caesars will close its Centurion Tower this summer to begin a multimillion-dollar renovation, showcasing natural materials in an elegant, Japanese-inspired design. Sixteen suites and a penthouse are planned, in addition to the 180 guest rooms. Guests of the hotel will have a private check-in facility and the opportunity to order room service from the 9,500-square-foot Nobu restaurant on the tower's ground floor. Terms of the deal haven't been disclosed, and the transaction must be approved by Caesars Entertainment's board of directors and Nobu's shareholders.