Yes it is a new build.

You can see demolition of the previous hotel here (external link - FT-like site for skyscraper nerds - no offence) :

http://www.skyscrapercity.com/showthread.php?t=1540891

Page 1 starts with demolition pics. Pretty interesting way to take it down!

Page 6 has the latest new pictures:

http://www.skyscrapercity.com/showth...1540891&page=6