CityCenter Holdings closes Mandarin Oriental deal for $214M
August 31, 2018 10:56 AM
by Robert Mann
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.