I think a W hotel would do just fine on/near the strip.Much better than the MO will do=traditional top end luxury is already there in over abundence for those who really have the dough.Hip high end is really what is lacking IMO.
I know there were plans-but those were scrapped.

There were also plans for a Hyatt between City Center and Bellagio-but I think that folded also.
A nice Hyatt In Hughes center would be very welcome.