Hyatt Hotels Corp. is adding a Las Vegas property to its portfolio with the announcement that the 2,500-room Rio Hotel and Casino will join the Destination by Hyatt brand.
The 10-year partnership that allowed World of Hyatt loyalty-program members to earn and redeem points at MGM properties ended last year. (MGM is now part of Marriott International’s Bonvoy program.) That change left Hyatt with a limited footprint in Las Vegas and no significant meeting space.
Rio became part of the World of Hyatt program on March 1, but will not transition to a Destination by Hyatt brand until this fall, when a full property, $340 million renovation is complete. The first phase, which began last year, is focused on the 1,501-room Ipanema Tower, arrival area, building exterior, lobby, meeting spaces, casino, food and beverage outlets, and outdoor pool area. Once complete, phase two will upgrade the Masquerade Tower’s 1,012 guest rooms and public areas.
With updates to the more than 220,000 square feet of group space, Hyatt sees the property competing for “Las Vegas’ burgeoning meeting and event business.” The conference center features divisible ballrooms measuring 54,900 square feet, 39,000 square feet, 20,000 square feet, 11,000 square feet, 5,250 square feet, and 4,800 square feet, as well as numerous other meeting rooms.
The property is owned and operated by New York-based real-estate investor Dreamscape, which acquired it from Caesars Entertainment in 2019.
