The developer of an off-Strip hotel has pushed back the planned groundbreaking date but still aims to finish the towering project three years from now.
Majestic Las Vegas developer Lorenzo Doumani told the Review-Journal on Wednesday that he plans to start construction on the 720-room hotel in the first quarter of 2022, after saying in January that he expected to break ground in late summer or early fall this year.
However, Doumani said he is “still on track” to complete Majestic in late 2024.
He indicated he hasn’t started buying construction materials for Majestic and said he needs to excavate the property, on Convention Center Drive near the north Strip, and do other site work for nine months before the hotel tower starts taking shape.
But, in talking about the new groundbreaking date, he cited supply-chain woes that have affected multiple industries, from construction to auto sales.
“It’s just sheer insanity,” he said. “You can’t get anything.”
His roughly $850 million project would not have a casino and is aimed at business travelers. Majestic is across from the Las Vegas Convention Center’s newly built section and is slated to feature 35 corporate suites, offered for sale from $10 million to $100 million.
The suites would range from 5,000 to 25,000 square feet and occupy the tower’s top 10 floors, Doumani said, adding sales will start at the end of this month.
Las Vegas has seen gains in tourist traffic after the coronavirus outbreak sparked a plunge in visitors last year. But its normally lucrative convention industry only started to emerge in recent months from its pandemic-induced coma.
The first major trade show in the U.S. since the pandemic hit, World of Concrete, was held in June at the Las Vegas Convention Center’s new West Hall.
Doumani said the convention industry is “slow but picking up.” It’s nowhere close to pre-pandemic levels, though large gatherings are also booked long in advance, he said.
His project site is the former home of the Clarion hotel, which Doumani purchased in 2014 and imploded the next year.
Doumani obtained Clark County approval of his hotel development in 2019 and had hoped to break ground on Majestic last year, but the pandemic delayed his plans, he previously said.
(this story/news/article has not been edited by PostX News staff and is published from a syndicated feed)