Operator News

Dreamscape looking at ways to link the Rio to The Strip and develop a tourist magnet neighbourhood

By Phil - 27 March 2024

Whilst carrying out a $340m refurbishment of the Rio Hotel & Casino Las Vegas, new owner Dreamscape is also looking at ways to boost visitation by building a landscaped pedestrian bridge to better connect the resort to the Las Vegas Strip.

Currently to visit the Rio, customers must either go by road or walk for ten minutes along a freeway overpass. Eric Birnbaum, CEO of Dreamscape, who bought the Rio Hotel in 2019 for $516.3m, wants to link the property directly to Caesars Palace with a bridge over the I-15. Mr Birnbaum likened it to New York City’s elevated High Line.

Speaking to news outle KLAS he said.“We are very much in the middle of those conversations with all the county commissioners, with a lot of different constituents. This is an area that we think, you know, has a reason to exist and we want to market that.

His vision is to build a ‘neighbourhood’ to the west of the freeway in conjunction with neighbouring casinos such as The Palms and The Gold Coast to develop an attraction off The Strip in the same way Fremont Street has brought tourism to Downtown.

“Why can’t the same thing happen west of the Strip here, and create a real neighborhood, and create a destination?” Mr Birnbaum said. “I can’t get into all the details, but suffice to say we, along with some of our neighbors in this general area, would love to bring and revitalise this whole neighborhood.”

Rio is already undergoing a property-wide, multi-phase transformation with the 2,500-room hotel preparing to transition into the Destination by Hyatt brand this autumn.

Phase one of the hotel’s two-phase renovation is expected to be completed in autumn 2024, when the reimagined all-suite hotel will move into Hyatt’s Independent Collection under the Destination by Hyatt brand.

“We’re proud to collaborate with Rio Hotel & Casino on this transformational project to revitalize the iconic hotel as a Destination by Hyatt hotel in a key market like Las Vegas,” said David Tarr, senior vice president of development, Americas, Hyatt. “Destination by Hyatt hotels are individual at heart and embody the true spirit of the destination, and Rio Hotel & Casino will be no exception. This renovation will serve as a gateway for guests to experience a place of purposefully crafted entertainment and immersive experiences, infused with authentic design, and warm and welcoming service. We look forward to providing World of Hyatt members and guests an authentic and unforgettable experience in Las Vegas.”

Rio Hotel & Casino will mark the first Destination by Hyatt hotel in Nevada and the third Hyatt hotel in the Las Vegas area, strengthening Hyatt’s brand footprint and leading the way for new growth in one of the most visited leisure, group, and convention markets in the world.

When complete, the reimagined Rio Hotel & Casino will be completely transformed into a paradise beyond the Strip with fresh design, thoughtful amenities, upgraded offerings and friendly service creating a place that is comfortable for everyone to enjoy, find inspiration and be themselves. Phase one renovations began in 2023 and are near completion with extensive upgrades and enhancements to the 1,501-room Ipanema tower, arrival area, building exterior, lobby, gaming floor, sports book, multiple food and beverage outlets, meeting spaces, and outdoor pool area.

Phase two will include a full renovation and redesign of the hotel’s 1,012 Masquerade Tower guestrooms and associated public areas.

“We are thrilled to welcome World of Hyatt members to the Rio Hotel & Casino as we embark on revitalizing this iconic Las Vegas landmark,” Mr. Birmbaum added. “For almost 30 years the Rio has been one of the most exciting and talked about resorts in Las Vegas.  Working with Hyatt opens the door for us to share this special place with an entirely new group of travelers and we look forward to them witnessing the changes we have made to date and will continue to make throughout the renovation.”

Erradicating the current trek from the Strip with an easy access link from Caesars would very much be the cherry on top of the icing for Mr Birnbaum, Dreamscape and indeed guests or visitors to the Rio.