Dive Brief:
- The 2,500-key Rio Hotel & Casino in Las Vegas officially joined the luxury Destination by Hyatt brand following the first phase of a $340 million renovation touching the property’s guest rooms, amenities and public spaces, Hyatt announced.
- The property, owned and managed by New York City-based real estate investor Dreamscape, has transitioned under Hyatt’s Independent Collection and the World of Hyatt loyalty program, representing the largest property within Hyatt’s global hotel portfolio based on room count, according to the company.
- The hotel marks the first Destination by Hyatt in Nevada and fortifies Hyatt’s existing presence in Las Vegas, which Mike Waddell, senior vice president of global franchise operations, called a “standout destination for global travelers.” Hyatt is in the midst of a luxury portfolio expansion targeting leading leisure and business markets.
Dive Insight:
Rio Hotel & Casino “strengthens World of Hyatt’s brand footprint in one of the world’s most vibrant destinations for leisure, convention and group travel,” according to Hyatt.
Throughout this year, Las Vegas has led other top U.S. markets for meetings and events volume growth. Local operators attributed hotel performance growth in the third quarter to heightened group travel to Vegas, with MGM Resorts noting sports tourism is a big opportunity for the market.
The revamped Rio Hotel & Casino provides World of Hyatt members and global travelers visiting Las Vegas “ways to immerse themselves in our destination’s fun, energetic and eclectic atmosphere,” said Rio Hotel & Casino President and CEO Patrick Miller, who joined the property in May from MGM.
The first phase of the renovation included the full redesign and modernization of the resort’s 1,500-room Ipanema Tower as well as the unveiling of six new culinary outlets within the Canteen Food Hall, according to Hyatt.
Additionally, the project updated 220,000 square feet of meetings and convention space, created four pools and added more than 500 new slot machines and 30 table games to the resort’s casino floor. Cocktail bar Lapa Lounge and casual dining concept Luckley Tavern & Grill also opened.
Phase two of the renovation will focus on upgrading the resort’s Masquerade Tower guest rooms and public spaces, according to Hyatt.
The addition of Rio Hotel & Casino comes as Hyatt expands its global luxury and lifestyle portfolio to new destinations. Earlier this week, the hotel company opened Grand Hyatt Deer Valley resort in popular ski destination Park City, Utah. That opening was on the heels of Hyatt’s $115 million renovation and rebranding of Grand Hyatt Scottsdale earlier in November.
In September, Hyatt announced it was doubling down on its luxury and lifestyle development with 20 recent or planned openings in the Americas through 2025.
