LVCVA projects $4.5B to be spent on new projects by 2024

The Las Vegas Convention and Visitors Authority is projecting the spending of $4.512 billion to add 7,602 hotel rooms and 791,000 square feet of convention space in Southern Nevada by the end of 2024.

If those 29 projects are completed as planned, the region would have a total room count of 158,059 in two years.

The figures were disclosed in the LVCVA’s tourism construction bulletin issued Friday.

The bulletin said 12 projects that added 5,179 rooms and 670,000 square feet of convention space at a total cost of $4.888 billion were completed in 2021.

The list of future projects to be completed by the end of this year includes the reopening of the Palms under its new owners, the San Manuel Band of Mission Indians. That will reintroduce 766 hotel rooms and 190,000 square feet of meetings space to the market in the spring, and 127 rooms at the new Holiday Inn Express at Railroad Pass opening in the fall.

The largest project on the horizon is Fontainebleau Las Vegas on the Strip, with 3,780 hotel rooms and 550,000 square feet of meeting space expected to be added to the city’s inventory by the fourth quarter of 2023.

Also coming by the fourth quarter of 2023 is Station Casinos’ $750 million neighborhood casino project being built on Durango Drive in southwest Las Vegas, which will add 211 hotel rooms and 21,000 square feet of meeting space.

The $1.9 billion MSG Sphere at The Venetian, a 17,500-seat entertainment venue, is also targeted for completion by the end of 2023.

The largest hotel project scheduled for completion in 2024 is the $850 million, 720-room nongaming Majestic Las Vegas being built on the former Clarion Hotel site across the street from the West Hall of the Las Vegas Convention Center on Convention Center Drive.

Six new properties are planned for completion in 2024. The Element Las Vegas Airport with 119 rooms and a Springhill Suites by Marriott with 170 rooms are due for completion in January of that year.

Due to open in February 2024 are the 284-room, a $100 million Delta Hotels by Marriott, with 10,000 square feet of meeting space; the 322-room, $95 million AC Hotel by Marriott, with 20,000 square feet of meeting space; and the 119-room Element Las Vegas.

Also scheduled for completion in the 2024 calendar year is the 527-room, $500 million Dream Las Vegas.

The construction bulletin lists several transportation projects due for completion beyond 2024. The $8 billion Brightline West high-speed rail project, which includes a 65,000-square-foot, two-story Las Vegas station is on the bulletin as is the 29-mile, 51-station Vegas Loop underground transit project by The Boring Co.

Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.