Minnesota-based hospitality giant Radisson Group announced Thursday that it has signed Treasure Island – TI Hotel & Casino in Las Vegas to its portfolio of properties.
The hotel and casino complex will join the Radisson system later this year, it also emerged. It will be the first Strip property to become part of the Radisson group.
Guests will be able to book a stay at Treasure Island on RadissonHotels.com by late 2019 and Radisson Rewards members will be able to earn and redeem their points next year.
Located on the legendary Las Vegas Strip, Treasure Island is a privately owned hotel and casino resort that features just under 3,000 guest rooms, different entertainment options, including a Cirque du Soleil show, upscale and casual dining outlets, a spa, retail experience and a number of hit nightspots, among others.
Pedestrian bridges connect Treasure Island with the Fashion Show shopping mall and Grand Canal Shoppes at The Venetian and The Palazzo. The property is also within walking distance of the Sands Expo.
Commenting on the newest addition to their portfolio of hotels, Radisson Hotel Group President Americas Ken Greene said in a statement that Treasure Island “is home to one of the best locations and values in Las Vegas” and that it is a property they have “been keen to offer to our loyal guests for quite some time.”
Under the terms of the deal between Treasure Island and Radisson, the hotel and casino resort will retain its current branding and exterior signage.
A True Privilege
Phil Ruffin, the owner of Treasure Island, said that it is a “privilege to collaborate with the like-minded and passionate team at Radisson Hotel Group and join one of the best recognized brands in the world.”
Mr. Ruffin added that the recent announcement that the resort is to join the major hotel group will help them “cast a wider global reach” and attract new guests to “the most exciting, distinctive and friendly resort destination on the Las Vegas Strip.”
Following the latest announcement, Mr. Ruffin might embark on a mission to reach a new milestone in his career of a hotel and casino owner. It became known earlier this year that the businessman was interested in buying a Strip property from Caesars Entertainment Corp.
Mr. Ruffin told local media that he could pay $1 billion in cash for a hotel and casino resort on the legendary stretch of land known for the high concentration of resorts, and raise even more in debt.
Caesars and Eldorado agreed last month to a $17.3 billion merger that would create the largest US casino powerhouse. However, Caesars might be required to sell a Strip property in order to secure regulatory approval for the merger.
Mr. Ruffin could also have the opportunity to pick from Strip properties owned by another major company. News surfaced last week that MGM Resorts International was exploring sale or leaseback of some of its marquee properties, including Bellagio and MGM Grand. According to analysts, MGM could trouser between $6 billion and $7 billion from the sale-leaseback.
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