MGM Resorts International and Sydell Group reimagine Monte Carlo Resort

MGM Resorts International and New York-based Sydell Group have announced a partnership to reimagine and rebrand Monte Carlo Las Vegas Resort & Casino. The approximately $450 million transformation, which will touch every element of the property, will include two distinct hotel experiences: a Las Vegas version of Sydell's widely acclaimed NoMad Hotel, and the launch of a new luxury hotel named Park MGM. In addition to fully redesigned and renovated hotel guest rooms, each hotel will feature innovative and exciting food & beverage experiences unique to the Las Vegas market, including the award-winning NoMad restaurant by Chef Daniel Humm and restaurateur Will Guidara and Eataly's vibrant Italian marketplace with cafes, to-go counters and full-service restaurants interspersed with high-quality products from sustainable Italian and local producers. Park MGM and The NoMad Las Vegas become the final pieces of MGM Resorts' complete neighborhood redesign of the central Las Vegas Strip neighborhood which began in 2009 with the introduction of CityCenter and saw the recent unveiling of The Park, a spectacular outdoor dining and entertainment district, and the stunning new T-Mobile Arena.

Sydell Group, a partnership between investor Ron Burkle and founder Andrew Zobler, is the creator and operator of trend-setting lifestyle hotels across the country, including The NoMad in New York; The Line in Los Angeles; and Freehand in Miami and Chicago. Sydell will collaborate with MGM Resorts on the property-wide transformation of all public and guest spaces, including the food & beverage offerings, of both hotels. A prominent feature among Sydell Group's portfolio of properties is the restoration and reimagination of historic buildings into unique hospitality experiences, alongside award-winning food & beverage.

"We are thrilled to partner with Sydell Group as we enter the final phase of transforming the neighborhood that we believe represents Las Vegas' true entertainment epicenter," said Bill Hornbuckle, president of MGM Resorts International. "Coupling MGM's rich legacy of hospitality and entertainment with Sydell Group's expertise in creating hotels that cultivate a strong sense of place will result in a destination that both celebrates the history of Las Vegas and ushers in a new era."

Andrew Zobler, founder and CEO of Sydell Group, said, "The collaboration between MGM Resorts and Sydell felt very natural for both NoMad in Las Vegas and Park MGM. MGM is the preeminent operator of casino resorts and has extensive expertise leveraging unique guest experiences across properties with great scale. Sydell Group has a growing collection of brands focused on authentic offerings, a residential feel and the ability to connect with like-minded collaborators at the forefront of design and food & beverage. Together, we have been able to meld these approaches into a property that will have real soul."

Hornbuckle added, "We are particularly excited that this partnership also allows us to expand the new Park MGM brand into traditional hospitality ventures in key gateway cities."