Palms plans $600M expansion

Mar 8, 2005 8:52 AM

If there’s one thing that characterizes the Palms Casino Resort’s expansion, it is a continuation of the celebrity cool, fashionably hip mentality that has marked the hotel’s first three years of operation.

"Since we opened the Palms in 2001, we have developed one of the strongest brands in the gaming industry," said Palms owner George Maloof. "Our marketing strategy at the Palms has resulted in extraordinary financial success. We want to continue that success and make the Palms an all-encompassing one-stop resort destination for our guests."

The Palms’ $600 million expansion includes a 40-story hotel tower and a 520-foot condominium hotel and spa. The new tower with 347 rooms and suites is currently under construction and will feature many one-of-a-kind amenities, including 46 mega-suites and sky penthouses.

"The Palms set the standard for themed hotel rooms by creating the world-famous Real World suite," Maloof said. "With our expansion, we will design some of the most extraordinary and unique luxury suites ever built in Las Vegas."

Maloof said those designs call for themed party suites, built with extra sound insulation and will feature swimming pools, fireplaces and even a basketball court.

Expanded entertainment includes a Playboy brand, high-end lounge and retail shop.

In addition, the first-ever recording studio in a Las Vegas hotel-casino will span 8,000 square feet, offering state-of-the-art equipment while allowing artists to record from remote units in their suites.

Additional amenities will include an intimate 2,200-seat showroom, two new restaurants, several specialty retail shops and a new pool with private bungalows.

Adjacent to the hotel towers, a 50-story, 599-unit condominium hotel and spa will be built. The project, named Palms Place, is slated to break ground in 2006.

Palms Place will be connected to the hotel by an enclosed, moving walkway.

"Palms Place will be the premier condominium hotel complete with a world-class spa, VIP concierge service and all the action of the Palms lifestyle," Maloof said. "The building will be spectacular and will boast wide ranging views of the Strip and Spring Mountains."

The furnished condos will range from 600 to 7,000 square feet. Prices range from $500,000 to $7 million.