Take one walk through the Monte Carlo and the changes are obvious: The gray color scheme of the floors and walls of the new Park MGM contrasts sharply with the traditional Las Vegas look of the Monte Carlo’s red and gold carpets.
MGM Resorts International revealed some of the changes Wednesday as it transforms the Monte Carlo into the combo-resort of Park MGM and NoMad Hotel. The $550 million project is expected to be finished by the end of 2018.
The differences in the lobby include individual check-in stations to replace the traditional check-in counter, and forest-inspired art hangs from the ceiling and on the walls. The rooms at the NoMad are designed to feel like an urban apartment.
MGM Resorts CEO Jim Murren said he intends to grow the target demographic for the resorts with customers who might stay at a place like NoMad in New York but have not visited Las Vegas.
MGM teamed with the Sydell Group, known for remodeling older buildings into boutique hotels in London, New York, Miami and other U.S. locations. He reached out to Andrew Zobler, the Sydell CEO, after staying at NoMad in New York.
“The NoMad had a sense of community,” Murren said, “I really needed to understand how Andrew accomplished this.”
Murren said prices for the suites at the Nomad will be at the top of the market. The Park MGM will be slightly below.
Zobler said the customers are probably younger than guests who would stay at a luxury suite at other Strip resorts. Murren described them as more international.
“These customers tend to stay longer, are more adventurous and invest more in the local economy,” Murren said.
The NoMad will be a completely separate resort, Zobler said, with its own lobby, pool and casino. But, unlike other hotels within hotels, the resort will share design elements and themes with Park MGM.
Building a new hotel from ground up would have been too expensive, Murren said, and simply remodeling the Monte Carlo, not changing the branding or feel of the place, would have been a waste.
“It had low brand awareness and became a hotel that was room inventory that ironically sat on some of the best real estate we own,” Murren said.
The construction, as expected, has interrupted business. But portions of the upgrades have already debuted, including two restaurants — Primrose and Bavette’s Steakhouse & Bar — which Murren said have produced the highest returns he’s seen at the Monte Carlo in years.
“The building has been under the most comprehensive renovation of any property that we’ve ever had,” Murren said during the call held to discuss third quarter earnings.