LAS VEGAS (KTNV) — The Rio Las Vegas will be partnering with Hyatt Hotels for a property rebrand.
A representative on the deal says a Hyatt affiliate has entered an agreement with an affiliate of Dreamscape Companies for a full renovation of the Rio Las Vegas.
“We are thrilled that Dreamscape will help us bring multiple Hyatt full-service brands to Las Vegas, starting with a Hyatt Regency hotel, which we believe will deliver on the Hyatt Regency brand promise of creating meaningful connections in modern spaces designed for sharing, socializing, and collaborating,” said Kimo Bertram, Hyatt’s vice president of real estate and development.
The multi-phase project is expected to bring multiple Hyatt full-service offerings to Las Vegas the renovated Rio hotel, according to a Thursday news release.
The more than 2,500 rooms at the Rio will be renovated and rebranded into multiple Hyatt full-service offerings.
“We know Las Vegas is an important destination for our guests, World of Hyatt members, and customers, and this project is a significant step for Hyatt as we continue to grow our brands in markets that matter most to our loyal travelers," Bertram said.
The property's public spaces, including gaming, retail, food and beverage, spa and fitness, pool recreation area, will also undergo a redevelopment.
“At Dreamscape, our goal is to acquire assets that drive long-term financial and cultural value, and we are very excited to team up with Hyatt on this project,” said Eric Birnbaum, Dreamscape’s founder and CEO.
Also, one of the hotel's existing towers will become a 1,501-room Hyatt Regency hotel with standard guestrooms averaging 580 square feet.
The remainder of Rio’s guestrooms are expected to be branded or affiliated with one or more other Hyatt full-service brands after they are renovated.
“The Rio Las Vegas is the perfect space to create the ultimate multipurpose venue in Las Vegas, and we are thrilled to work with the Hyatt team to revitalize the property," Birnbaum said.