Las Vegas catching up on room losses with Trop, Mirage closures

Southern Nevada lost more than 4,500 hotel rooms in 2024 when the Tropicana and Mirage closed their doors and the region won’t fully bounce back from those losses until the Hard Rock Las Vegas opens its doors in 2027, the Las Vegas Convention and Visitors Authority said.

The Tropicana closed in April with its two towers imploded in October to make way for a $1.75 billion, 33,000-seat capacity Major League Baseball stadium for the Athletics and an adjacent Bally’s Corp. resort. The Mirage, meanwhile, was closed in July so that its Seminole Indian Tribe owners can develop the new $1.5 billion, 3,640-room Hard Rock Las Vegas which will include a new guitar-shaped hotel tower where the Mirage volcano once stood. The new Hard Rock isn’t expected to open until spring 2027, with the baseball stadium to open in spring 2028.

The region had a net loss of 4,195 hotel rooms in 2024, thanks to the opening of two small nongaming hotels during the year and a remodeling at downtown Las Vegas’ Circa Resort, the LVCVA said in its recent construction bulletin.

The LVCVA also said Southern Nevada had a net loss of 271,959 square feet of convention space, thanks to the Tropicana and Mirage closures.

New nongaming hotels that opened in 2024 included the $20 million, 90-room Atwood Suites Henderson on Water Street, and the 123-room Homewood Suites by Hilton North Las Vegas on Craig Road. Both opened Nov. 12.

Circa added 106 rooms to its inventory with a $22 million project completed in December.

Six hotel projects

Las Vegas will gain back a chunk of its hotel inventory in 2025 with six projects expected to be finished during the year.

The largest will be a new 384-room tower at Penn Entertainment Corp.’s M Resort in Henderson. The $206 million project also will add 40,000 square feet of convention space to the M and is on track to open in summer 2025.

Another nongaming property that is expected to break new ground for Las Vegas is the $85 million, 182-room Otonomus Hotel on Russell Road, west of Allegiant Stadium, due to open in March.

Billed as the world’s first AI-powered hotel, Otonomus will use two proprietary computer platforms that can personalize a guest’s stay by customizing room configurations, selecting amenities, and enjoying real-time services tailored to their preferences.

Otonomus founder and CEO Philippe Ziade is exhibiting the software’s capabilities at CES in Las Vegas in January.

Four other nongaming hotel properties — two of them in downtown Las Vegas’ Symphony Park area — will add to the city’s hotel room inventory and increase the total to 1,276 for the year and bring Southern Nevada’s total to 151,922. New hotels include Spark by Hilton Las Vegas Airport on Gilespie Street, opening in January, 150 rooms; Element Las Vegas Airport on Las Vegas Boulevard South, opening in March, 119 rooms; Element by Westin Symphony Park, opening in September on Grand Central Parkway, 119 rooms; and the $95 million AC Hotel by Marriott Symphony Park, opening in September on Grand Central Parkway, 322 rooms and 18,025 square feet of convention space.

2024 investments

The LVCVA reported a total investment of $757 million in Las Vegas tourism amenities in 2024 with the four-story, 27,000-square-foot, $30 million Ole Red Las Vegas music club at the Horseshoe in January; Luxor’s Play Playground, an immersive entertainment attraction in January; the $75 million, 100,000-square-foot Atomic Golf driving range and entertainment complex at Strat in March; PopStroke, the Tiger Woods-owned 36-hole miniature golf course at Town Square Las Vegas in April; Swingers Las Vegas, a $50 million, three-story, 40,000-square-foot “crazy golf” attraction at Mandalay Bay in November; Jason Aldean’s Kitchen and Rooftop Bar, a two-story, 22,500-square-foot venue with two live music halls, six bars and a 4,000-square-foot outdoor patio on Las Vegas Boulevard South; and a Vegas Loop transit station at Westgate Las Vegas.

The LVCVA also confirmed a series of renovations adding to tourism investment.

Renovations included a $130 million room makeover at Bellagio’s Spa Tower, completed in March; a $340 million room, pool and food hall renovation at Rio’s Ipanema Tower, completed in the first quarter; a $100 million remodeling of the Mandalay Bay Convention Center; and a $10 million backyard and pool renovation at the Silverton, completed in the spring.

In addition to the new hotel rooms and convention space coming in 2025, the LVCVA is tracking several other projects due to be completed in the next year, with a total investment of more than $2.65 billion.

The Vegas Loop will open its Wynn and Encore station with a connection to the Las Vegas Convention Center in early 2025. BLVD Las Vegas on Las Vegas Boulevard South, a new retail and entertainment complex, is due for completion in the spring. Bottled Blond, a $50 million, four-story 25,000-square-foot dining and nightlife venue also is expected to open in the spring.

The Ellis Island Hotel, Casino and Brewery is planning to add 6,415 square feet of casino space at its Koval Lane location. Sunset Station hopes to complete a $53 million renovation of its race and sportsbook, a casino remodel and the addition of a new bar and restaurant. Also in 2025, The Venetian is undergoing a $1.3 billion room and propertywide renovation.

In late 2025, the year-old Durango is investing $116 million to add a parking garage and to expand its casino, the Green Valley Ranch plans a $150 million room renovation and the Las Vegas Convention Center will complete its $600 million upgrade and renovation to its three legacy convention halls by the end of the year.