Single_Flyer

The hotel will be managed by Aimbridge Hospitality.

https://www.aimbridgehospitality.com...rio-las-vegas/

Looking at their portfolio, this is not a good sign in my opinion...

https://www.hospitalityonline.com/ai...lity/locations

MSPeconomist

It's primarily limited service properties, but there are a few interesting properties in the list, such as Windsor Court (NOLA). Of the others, the few that I know, such as the newish HP Canton (Ohio) and HP Downtown Minneapolis seem reasonably good.

mileage junkie

Hypothetically.....since they say the first year (2023?) they’ll remain a Caesar’s property; if you happen to be Diamond in Caesar’s reward program (or even better, Seven Stars), you can stay there in slow/inexpensive times of the year WITHOUT paying resort fees. (To clarify, at that rewards level, you can stay in any Caesar’s property, anytime, without paying resort fees.) Now, you’re racking up Hyatt stays at the most “inexpensive Hyatt” in the world, since extremely cheap rates are common in Las Vegas in the dead of winter/middle of the summer. (Again, with NO resort fees, if you’re fortunate enough to have high status in Caesar’s player’s club.) Fingers-crossed this comes to fruition !

MarkOK

I don't know about those two, but I have stayed at (it looks like at least 6) of their other HPs and HHs and they are some of the dumpier ones out there.

The real question is do they even have a clue about running this large of a casino/resort type of complex.

gengar

No, that's not a correct reading - the final year of the current leaseback contract with Caesars (that now extends into 2023 due to the lockdown) is an owner option. Ownership certainly won't pick up the option if they are choosing a different management team (and IMO it's likely that they will terminate the existing contract early).

steveholt

They run a few casino properties, including the hotel at the Bike in California and a Marriott with an attached casino in Curacao. I didn't look through the entire list but they have multiple 500+ room hotels and a few 1K+ room hotels including the Westin Bonaventure in LA and the Roosevelt in NYC. They manage a bunch of HRs: Sonona, Sarasota, Deerfield, Louisville, Buffalo, Tulsa, Houston Galleria, IAH, North Dallas, Dulles, Milwaukee, and Coco Beach.

I wouldn't say I'm particularly excited about the possibility of them operating these hotels, but I'm also going to be realistic. This is going to be a low-yield, low-price HR that will probably end up as a Cat 3. The other hotel will probably be a Cat 2/3 HP.

mileage junkie

From the Las Vegas Review-Journal last month.

<<After years of rumors that the property was up for sale, Caesars sold Rio to Dreamscape in late 2019 for $516.3 million. The agreement allowed Caesars Entertainment Inc. to manage the off-Strip property for two years at an annual rent of $45 million and an optional third year at $7 million.Caesars and Dreamscape have since extended the initial lease agreement an extra year because of COVID-19 pandemic complications, potentially pushing back Dreamscape’s full takeover as late as Dec. 15, 2023.>>

gengar

Reread the bolded from your very own quote.

And again, the option may not even come into play as I would not be surprised to see the current owners seek to terminate the leaseback contract early (depending of course on the extent of renovations and how they progress).

TravelFu

I have to agree they're going to need to improve the restaurant situation. If they want to sell this as a conventions hotel they're going to need to both improve what they have and do better with slightly lower price point options as well. I'm sure the rooms need updated but Hyatt in my experience has been pretty good with key upgrades in rooms when they bring new potential into the fold. There are those groups who really want to have a more insular convention experience for their own purposes so with the right sales team and the right upgrades/improvements I would have to agree Rio could potentially find a very lucrative conventions niche. Up their spa game along with their restos game and market to those who want to see the ruckus on the strip but not feel stuck in the middle of it could be a secondary niche for them. I have family who would eat that up with the right package deal.

Beckles

Their plans could certainly change, but I don't think HP is what Hyatt considers a 'full-service brand' in their portfolio. It seems clear to me that their intention is the other hotels will be higher-end than the HR (because their isn't a lower-end they can go from HR and still be 'full-service').

steveholt

I believe HP is considered a full service brand.

coleslaw

I think that’s just Hyatt being grateful to get an award

If Hyatt Place isn’t select service (/is considered full service) then what exactly is a select service Hyatt?!

59Impala

Hyatt Place is select service as per their brand page: https://www.hyatt.com/development/ourbrands/hyattplace

steveholt

I see. By their definition, then, the other hotel won't be a HP. Of course, things can change...

Peridot83

It looks like they target limited service brands, but it sounds like this hotel is targeting meetings that are not big enough for the convention center, and those are frequently held at the kind of hotels in their portfolio. Based on my stays from that list I’ve had good stays. And the HH Plymouth Meeting and Marriott Lancaster are near me and I’m very familiar with them and find them particularly well run.