CityCenter Holdings closes Mandarin Oriental deal for $214M

CityCenter Holdings closes Mandarin Oriental deal for $214M

August 31, 2018 10:56 AM
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CityCenter Holdings, LLC, the joint venture between MGM Resorts International and Infinity World Development Corp, said Thursday it’s deal to sell Mandarin Oriental Las Vegas and adjacent retail parcels for $214 million in cash has now closed.

CityCenter says it expects to use the proceeds from the sale to pay a dividend to its shareholders.

The hotel, featuring 392 guestrooms, including 57 suites, 12,000 square feet of meeting space, five food and beverage outlets, and a two-level 27,000 square-foot spa is being rebranded as a Waldorf Astoria property under the corporate umbrella of its operator, Hilton Worldwide Holdings.