For the past two years, the hotel industry has been focused on renovation, with owners investing heavily in capital improvements to maintain brand standards and boost foot traffic. The latest figures from the New York Hospitality School of Professional Studies show that In 2015, U.S. hotels spent $6.4 billion in renovations, with billions more expected to be spent in 2016.
Nowhere is this injection of capital investment more heady than in Las Vegas, where announcements of multimillion-dollar projects seem to come daily. While swanky casinos, celebrity-stamped restaurants and trendy bars might drive the hordes of visitors who generate millions in revenue for Sin City hoteliers, it's in the guest rooms where the battle for bragging rights -- for everything from killer views to biggest bathrooms and best amenities -- really plays out.
The 3,005-room Cosmopolitan of Las Vegas plans on taking that battle to a whole new level early in 2017, when it unveils the fruits of its latest renovation project -- Boulevard Penthouses. These are 21 ultra-luxury penthouses that will sit on the top floors of the resort's Boulevard Tower. Ranging in size from 2,000 to 5,000 square feet, they will offer unique features created by Tihany Design and Daun Curry Design, both of New York City, and Richmond International of London; each company is responsible for seven rooms. "Our idea in partnering with these three outstanding designers was not to have 21 penthouses painted with the same brush," says Bill McBeath, president and CEO of the Cosmopolitan, "but to find creative partners who would bring the touches of residential high-design to the hospitality space. The results will be unparalleled."
While the hotel is staying mum on the cost of this project, it is part of the property's five-year, $300 million capital investment plan. And this we much do know: Each of these new glamorous digs will have 360-degree wraparound terraces for jaw-dropping views of the Las Vegas skyline, along with custom-made details like hand-crafted fabrics, textiles, furniture, lighting and artwork. "They are going to set a new bar for luxury on the Las Vegas Strip," says McBeath. "They are beautifully spacious, tastefully done and have a high residential feel, which we don't believe currently exists in the market. It's a truly unique product that cannot be duplicated."
Guests at the 21 new penthouses also will enjoy access to an ultra-exclusive, 2,300-square-foot private gaming salon. A throwback to the classic art deco-style men's club, the salon will have bold wood panels, original art and access to a private terrace. Game on!