The Cosmopolitan and the Culinary Union have reached agreement on a contract that has the Union representing more than 2,000 workers at the Strip resort for the first time since the Cosmo opened five years ago.
Analysts say the difference in attitudes probably has everything to do with the fact that Blackstone, a private equity company that bought the Cosmopolitan for about $1.7 billion also owns the Hilton Hotels chain which has a long history of working with labor unions.
The Cosmopolitan’s previous owner Deutsche Bank was doing nothing more than trying to keep a short leash on costs after it foreclosed on a construction loan to the developer, finished the property and immediately began efforts to sell it.
The approval of the new union contract was announced this week. It includes family health insurance through the Culinary Health Fund, a 40-hour work week for full-time employees and wage increases.
The agreement with the Cosmopolitan covers housekeepers, bartenders and restaurant and lounge employees and bellmen.
Phil Hevener has been writing about the Nevada gaming business for more than 30 years. Email: [email protected].