New 531-room Dream Hotel and Casino to anchor revitalization of South Las Vegas Blvd. with late 2024 opening
LAS VEGAS, NV (July 8, 2022) – Developed by Shopoff Realty Investments and Contour, in partnership with Dream Hotel Group, Dream Las Vegas will be a driving force in the ongoing revitalization and rejuvenation of the south end of the Las Vegas Strip. The 531-room lifestyle hotel and casino pairs global architecture firm DLR Group with interior design by AvroKo, Rockwell Group and DLR Interiors, and is expected to open with seven experiential dining and nightlife venues, 12,000 square feet of meeting and event space and a 20,000-square-foot casino, in late 2024.
The groundbreaking ceremony for this exciting $550 million development took place today, Friday, July 8, at 10:00 a.m., and featured Governor of Nevada Steve Sisolak, Clark County Board of Commissioners Chairman James B. Gibson and Lieutenant Governor Lisa Cano Burkhead as speakers, along with developers William Shopoff and David Daneshforooz, Dream Hotel Group CEO Jay Stein and COO Michael Lindenbaum, and McCarthy Building Companies’ Senior Vice President Ross Edwards.
With rising visitor numbers and more business relocations in recent history, Las Vegas is experiencing unparalleled growth and record wealth creation. The new Dream Las Vegas hotel and casino is expected to generate significant tax revenue and create 4,000 new direct and indirect construction jobs, while also offering the growing residential and business communities a new reason to visit Las Vegas.
“The Dream Las Vegas development is a great investment in our local economy – to boost tourism and create thousands of new jobs,” said Nevada State Governor Steve Sisolak. “I’m excited to see the resort come to life in 2024, offering even more first-class amenities and service, and extending our State’s long history as a leader in hospitality and tourism.”
“The great thing about this development is that it helps us finish off an important part of the Boulevard that all of us have seen undeveloped for so many years,” added Clark County Commissioner Jim Gibson. “Finally, we have an opportunity to complement all the little things that have been going on and this is enormous for us. The economic value of this project far exceeds the 550-million-dollar investment. This is a reset on the development of Las Vegas Boulevard to finish the work that needs to be done, and Dream is the leader of that reset. The result is something we’re all going to be proud of.”
“This project represents a new type of Vegas hotel experience, offering tourists and locals alike a unique boutique hotel option on the Las Vegas Strip. We are thrilled to break ground on Dream Las Vegas and watch as it energizes the southern end of the Strip, while providing countless jobs and revenue for local government,” explained Shopoff Realty Investments’ President and CEO William Shopoff.
“As a native to Las Vegas, I am thrilled to work alongside a great team and partners to reach this milestone in the development of Dream Las Vegas,” said Founder and CEO of Contour David Daneshforooz. “Dream Hotel Group will bring new life to this end of The Strip with its curated food, beverage and entertainment offerings.”
“All of us at Dream are proud to play a role in creating what will be one of the most spectacular new additions to Las Vegas,” said Dream Hotel Group CEO Jay Stein. “Las Vegas is a destination much like our Dream Hotels brand, marked by a vibrant, youthful energy and dynamic cultural arts and entertainment scene unlike anywhere else in the world. Together with innovative developers Shopoff and Contour, it is our goal to create an experience-driven property that surpasses expectations, blending forward-thinking design, progressive programming and world-class hospitality with unmatched dining and nightlife. We are not just building another hotel, we are building an experience, and one that we hope will contribute substantially to the future of Las Vegas. Following the successful launch of Dream Hollywood, California in 2017, I have every confidence that Dream Las Vegas will be our newest star of the west coast and a critical addition to our growing portfolio.”
Steve Hill, CEO/President of the Las Vegas Convention and Visitors Authority added: “We are excited Dream Las Vegas will soon join the spectacular Vegas skyline. We greatly appreciate the investment and vision by Shopoff Realty Investments, Contour and Dream Hotel Group to bring a new hotel, casino and ‘Only Vegas’ entertainment experience to our millions of visitors.”
Set to open in late 2024, Dream Las Vegas features 531 highly appointed guestrooms and suites, and seven original dining and nightlife options, including a third-level resort pool and day club, two bar and lounge concepts on the gaming floor, a lobby bar, craft coffee café and gelateria on the street level, as well as a sporting club, boutique nightclub, signature restaurant and 24-hour diner on the third floor. The lifestyle hotel will also offer 12,000 square feet of meeting and event space, including a 5,000-square-foot ballroom and 90-seat live entertainment theatre, a 20,000-square-foot casino and gaming floor, a fitness center by TechnoGym and on-site parking. Casino and gaming operations will be led by Peninsula Pacific Entertainment (P2E). Situated along emerging South Las Vegas Blvd., the hotel’s presence will support the local community and the 32 million tourists that visit Las Vegas each year, adding another facet to the south end of the Strip.
McCarthy Building Companies is the design-builder contractor for the project. Senior Vice President Ross Edwards said: “We are proud to be a part of this exciting design-build hotel and casino project on the Las Vegas Strip. This project will reflect the talent of approximately 1,200 construction professionals who will be working onsite to bring the Dream Las Vegas brand to life. I can assure you our industry is filled with enthusiasm around the opportunity to help build a new Las Vegas landmark and will do so in a work environment that is committed to safety, and is welcoming, inclusive, and empowering to all.”
The 20-story luxury hotel tower will feature a diverse mix of dramatic venues distributed vertically throughout the composition roof decks and terraces of the hotel design. The undulating contemporary design will feature a lustrous glass and metal façade, boasting stylistic details such as radiused corners, spacious double-height terraces, oversized windows and a unique aerodynamic character influenced by its context. When complete, Dream Las Vegas and its distinctly iconic architecture will introduce a refreshing, new lifestyle-focused hotel experience and an innovative and welcome addition to the Las Vegas skyline.
Located at 5051 S. Las Vegas Blvd., across the street from Mandalay Bay Resort and Bali Hai Golf Club, Dream Las Vegas will be one of the first hotel properties seen from the iconic Welcome to Las Vegas sign. Adjacent to the private aviation terminal at Harry Reid International Airport, two short blocks from the new Allegiant Stadium (home of the NFL Las Vegas Raiders), and nearby T-Mobile Arena (home to the NHL Vegas Golden Knights and countless entertainment events, including the Country Music Awards, Billboard Music Awards, iHeartRadio Music Festival and Strait to Vegas, a concert residency by country music star George Strait), Dream Las Vegas is well-situated to capitalize on the southward expansion of new Las Vegas developments, as well as the numerous hotels and casinos along the Las Vegas Strip.
With 15 hotels open today and 25 new locations in various stages of development worldwide, Dream Hotel Group remains one of the fastest growing independent lifestyle hotel companies in the world. The groundbreaking of Dream Las Vegas signals another exciting milestone in the continued growth and evolution of the company and its portfolio of lifestyle brands.
About Dream Hotels
Born in 2004, Dream Hotels are individually curated properties that together comprise a unique narrative. The brand is underwritten by a design philosophy that is both surreal and contemporarily chic. Located in the United States and abroad, the design of each property is informed by its locale and taken to Dream status by a pool of world-renowned architects and interior designers. The result is a stay experience well-suited to the discerning traveler who seeks comfort in a truly cosmopolitan atmosphere. For more information about Dream Hotels, please visit www.dreamhotels.com and follow @dreamhotels on Instagram.
About Dream Hotel Group
Dream Hotel Group is a hotel brand and management company with a rich, 30-year history of managing properties in some of the world’s most highly competitive hotel environments. Home to its Dream Hotels, Unscripted Hotels, The Chatwal and new By Dream Hotel Group brands, Dream Hotel Group encompasses three business lines: Proprietary Brands, Hotel Management, and Dining & Nightlife. The company is committed to the philosophy that forward-thinking design, service and guest experiences should be available across market segments. Dream Hotel Group is dedicated to offering travelers an authentic connection to their chosen destination through a truly original approach. With 15 hotels open today and 25 new locations in various stages of development worldwide, Dream Hotel Group remains one of the fastest growing independent lifestyle hotel companies in the world. For more information, visit www.dreamhotelgroup.com and follow @dreamhotelgroup on Twitter and LinkedIn.
About Contour
Contour is a privately owned opportunistic real estate firm that develops, owns, and operates property throughout the United States. For additional information, visit www.contourre.com or call (800) 964-8110.
About Shopoff Realty Investments
Shopoff Realty Investments is an Irvine, California-based real estate firm with a 30-year history of value-add and opportunistic investing across the United States. The company primarily focuses on proactively generating appreciation through the repositioning of commercial income-producing properties and the entitlement of land assets. The 30-year history includes operating as Asset Recovery Fund, Eastbridge Partners and Shopoff Realty Investments (formerly known as The Shopoff Group). For additional information, visit www.shopoff.com or call (844) 4-SHOPOFF.
Disclosures
This is not an offering to buy or sell any securities. Such offer may only be made through the offerings memorandum to qualified purchasers. Any investment in Shopoff Realty Investments programs involves substantial risks and is suitable only for investors who have no need for liquidity and who can bear the loss of their entire investment. There is no assurance that any strategy will succeed to meet its investment objectives. The performance of this asset is not indicative of future results of other assets. 1Performance has varied in this time frame, with certain offerings generating losses. Securities offered through Shopoff Securities, Inc. member FINRA/SIPC, 18565 Jamboree Road, Suite 200, Irvine, CA 92612, (844) 4-SHOPOFF.
