Caesars Entertainment Corp. (Nasdaq: CZR), one of the world’s largest casino and resort companies, is looking to open its first non-gaming hotel in the United States in Scottsdale next to Macerich Co.’s Scottsdale Fashion Square.
The 11-story, glass-hotel – to be known as Caesars Republic Scottsdale – will feature 266 rooms and is planned to be built at the intersection of Goldwater Boulevard and Highland Avenue right next to the mall and across the street from the new Ocean 44 restaurant on Macerich property.
Construction is expected to begin in the second half of 2019, with an opening scheduled for 2021. Total development costs were not disclosed.
“Caesars Republic Scottsdale represents the introduction of a new world-class brand and further progress on our strategy to expand our non-gaming business into premier destinations,” Caesars Entertainment president and CEO Mark Frissora said in a statement.
Just like Macerich (NYSE: MAC) has made a play for higher-end customers with its new luxury wing of Scottsdale Fashion Square, the four-star Caesars Republic Scottsdale will have a number of high-end features and options.
The hotel will include the typical kings, double queens, one- and two-bedroom suites, but it will also have a bridal suite and five luxury entertainment suites. On the seventh floor, there will be a rooftop pool and bar – the only rooftop pool in Scottsdale – featuring views of Camelback Mountain.
There will also be large event spaces including a 7,000-square-foot column-free ballroom with 34-foot sliding glass doors which open out onto the adjacent lawn, suitable for outdoor events for up to 600 people. The second floor will include five breakout rooms which will accommodate up to 40 people each or can be opened for events up to 200 and there is an executive board room capable of seating 16 at a permanent table.
The hotel is being developed by Branson, Missouri-based HCW Development LLC and it will be operated by Aimbridge Hospitality, based in Plano, Texas.
Macerich (NYSE: MAC) recently completed renovations of the mall, costing the company between $140 million and $160 million, but it is looking to tap into a new trend of adding features to the property that go beyond what’s found at a typical mall. Besides the hotel, Macerich has plans to add multifamily housing, Class A offices and a gym concept in the coming years.
This will be Caesars second property in Arizona. The company also has licensed its name to the Harrah’s Ak-Chin Casino and Resort near Maricopa on Ak-Chin Indian Community land.
By Brandon Brown – Reporter, Phoenix Business Journal