Bellagio, MGM Grand in Las Vegas among MGM hotels slated for renovation

MGM Resorts International will spend $275 million to renovate seven of its wholly owned hotel properties. The work will include $70-million of renovations at the Bellagio in Las Vegas that includes remodeling all 2,568 standard guestrooms, and a $160-million remodel of 4,300 rooms in the MGM Grand.
Nov. 16, 2011

MGM Resorts International will spend $275 million to renovate seven of its wholly owned hotel properties. The work will include $70-million of renovations at the Bellagio in Las Vegas that includes remodeling all 2,568 standard guestrooms, and a $160-million remodel of 4,300 rooms in the MGM Grand.

The Bellagio project, already under way, has taken many rooms out of service for the quarter. At least $1 million in cash flow has been impacted because of the project, but renovated rooms that have been reintroduced are garnering average daily rates of $30 more than the pre-remodel rates, MGM says. If early indications hold up for the MGM Grand remodel, rooms there will generate a $10-$20 premium on average, the company says. 

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About the Author

Drew Ballensky

Drew Ballensky is general manager of Duro-Last Roofing, Inc.’s central U.S. facility in Iowa and company spokesman for Duro-Last’s cool roofing, sustainability and architectural education programs. He is past-president of the Chemical Fabrics and Film Association and chairman of CFFA’s Vinyl Roofing Division. Drew earned his bachelor’s degree in industrial technology from the University of Northern Iowa and master’s degree in business administration from Florida State University. Drew has over 29 years experience in business and industry in various engineering and managerial capacities. He has worked in the U.S. and Canadian operations for a major international manufacturer of pre-engineered steel buildings, was a financial analyst with a major athletic apparel manufacturer and was an owner of a general contracting company.
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