LAS VEGAS--(BUSINESS WIRE)--Fontainebleau Development, which designs, builds, owns, and operates premier hospitality, commercial, retail, and luxury properties, is targeting fourth quarter of 2023 for the opening of its recently acquired 67-story, vertically integrated luxury resort and casino at 2777 S. Las Vegas Blvd.
The property has commenced construction and will open under the name Fontainebleau Las Vegas, a monumental expansion that brings full circle the company’s longtime vision of hosting its iconic brand on the Las Vegas Strip.
“We are grateful to have the opportunity to finish what we started and finally introduce the iconic Fontainebleau brand into one of the world’s largest hospitality destinations,” says Fontainebleau Development Chairman and Chief Executive Officer Jeffrey Soffer. “We have been extremely selective when it comes to expanding our brand. Las Vegas has always been our number one choice.
“The building is in mint condition, and we have already commenced construction. We are excited to make this dream a reality.”
Fontainebleau Development and partner Koch Real Estate Investments acquired the property at 2777 S. Las Vegas Blvd in February 2021. The project is 75 percent complete, and, upon opening, Fontainebleau Development will be the sole hotel operator of Fontainebleau Las Vegas.
“Our goal at Koch Real Estate Investments is to partner with best-in-class management teams that have the drive and vision to bring unique solutions to each community in which we have a presence, and we’ve done that here with the Fontainebleau Development team,” says Jake Francis, President of Koch Real Estate Investments. "Our partnership was forged from our combined belief in Las Vegas, not just as a destination but as a global brand where people from all over the world come together to enjoy world class venues, entertainment, and nightlife.”
The property spans 25 acres and approximately nine million square feet in a coveted location on the north end of the Las Vegas Strip, directly adjacent to the Las Vegas Convention Center and the Las Vegas Global Business District.
“The Las Vegas tourism industry has shown incredible resiliency throughout the last two years, and we believe our target opening date allows us to perfect our vision while positioning Fontainebleau Las Vegas for success in a new era of growth and visitation,” says Fontainebleau Development President Brett Mufson. “This represents not only an investment in real estate, but also an investment in the community, and we look forward to having a positive presence and impact on Las Vegas for generations to come.”
Fontainebleau Development has retained acclaimed Las Vegas builder Richardson Construction to complete construction of the property, and the company will announce additional design and development partners in the coming months. More details about Fontainebleau Development and its portfolio can be found at fbdev.com.
About Fontainebleau Las Vegas
Fontainebleau Las Vegas is a vertically-integrated, luxury 67-story hotel, gaming, entertainment, and meeting destination scheduled to open fourth quarter of 2023. Created by Fontainebleau Development, who designs, builds, and operates premier hospitality, commercial, retail, and luxury properties, in partnership with Koch Real Estate Investments, Fontainebleau Las Vegas brings full circle the company’s longtime vision of hosting its iconic brand on the Las Vegas Strip. Located at 2777 S. Las Vegas Blvd. adjacent to the acclaimed Las Vegas Convention Center expansion, Fontainebleau Las Vegas will feature more than 3,700 uniquely designed hotel rooms, more than 550,000 square feet of convention space, and a world-class collection of restaurants and shops, pool experiences, vibrant nightlife options, and coveted spa and wellness offerings.
About Fontainebleau Development, LLC
One of the country’s premiere real estate development and hospitality groups, Fontainebleau Development has a diverse portfolio which includes properties in the hospitality, gaming, residential, retail, commercial, and luxury services sectors. The company designs, builds, owns, markets, and operates their properties, providing expertise in each stage of a project’s life cycle with a relentless focus on delivering the best quality in everything they do. To date, Fontainebleau has established a diverse portfolio, including premiere assets such as Big Easy Casino, Fontainebleau Miami Beach, JW Marriott Turnberry Resort & Spa, Hilton Downtown Nashville, and numerous residential landmarks such as Turnberry Ocean Club, Turnberry Ocean Colony, Porto Vita, the Tresor and Sorrento towers at Fontainebleau Miami Beach. Its luxury services division includes Fontainebleau Aviation, Turnberry Marina, Turnberry Isle Country Club, and some of the highest grossing and well-known food, beverage, and wellness destinations in the world. Over a 50-year history, Fontainebleau has been involved in over 100 projects representing in excess of $25 billion in total transaction value.
About Koch Real Estate Investments
Koch Real Estate Investments (KREI), based in Dallas, Texas, focuses its efforts on attractive risk-adjusted capital deployment into real estate assets and operating companies with an agnostic approach to product, geography, and capital position. KREI has an acute focus on best-in-class management teams and flexible capital solutions which align interests to drive mutual benefit with its partners. Since 2003, Koch companies have invested nearly $133 billion in growth and improvements. With a presence in more than 70 countries, Koch companies employ 122,000 people worldwide, with about 62,000 of those in the United States. From January 2009 to present, Koch companies have earned more than 1,300 awards for safety, environmental excellence, community stewardship, innovation, and customer service. For more news and information, visit www.KOCHind.com.
