Las Vegas · Luxury
The Cosmopolitan of Las Vegas
3027 keys · Las Vegas · The Cosmopolitan
Hotel-casino. The 2022 MGM purchase price includes operations, assumed debt, and residual land — not a rooms-only number.
West · gateway
Las Vegas
Hotel-casino trophies and Strip-adjacent rooms. Many public prices include gaming, retail, or sale-leaseback structures — read the footnote. Apple’s 2023 SpringHill Suites Las Vegas Convention Center $75.0 million tape is a 299-key rooms-focused buy — not a Strip palace PPK.
- Hotels
- 4
- Graph events
- 6
- Cited prices
- 6
- Desks
- 2
Hotels
Each house opens a labeled estimate. Defaults are assumptions — not an appraisal.
Las Vegas · Upper upscale
The Venetian Resort Las Vegas
7092 keys · Las Vegas · The Venetian
Hotel-casino plus expo. 2022 Apollo/VICI split ops and real estate. Do not treat $6.25B as a rooms-only PPK.
Las Vegas · Luxury
Bellagio
3933 keys · Las Vegas · Bellagio
2019 real-estate sale-leaseback. Price is land and building under a lease, not a conventional hotel sale.
Las Vegas · Upscale
SpringHill Suites Las Vegas Convention Center
299 keys · Las Vegas · SpringHill Suites
Convention Center SpringHill. Apple bought the existing 299-key house on December 27, 2023 for $75.0 million (2023 10-K table). Seller unnamed. Rooms-focused — not a Strip palace PPK.
Desks covering this market
Public coverage lists, not a claimed book. Open a desk for the graph timeline.
Newmark Hotels, Gaming & Leisure
Newmark Hotels, Gaming & Leisure desk
Investment sales practice
Practice-level node for Newmark’s hotels, gaming, and leisure group. Useful when a public filing or press release names Newmark.
4 public graph events · 2 cited · 2 unknown
2024 · 2022 · 2021 · 2020
Eastdil Secured — trophy / lodging
Investment banking
Large-cap real estate investment bank. Hotel work is typically trophy or portfolio, named in the financial press when it is public.
18 public graph events · 14 cited · 4 unknown
2026 · 2024 · 2022 · 2021 · 2020 · 2019
Public tape · 6 events
Transactions
Cited prices stay cited. Unknown stays unknown. Linked houses open the estimate worksheet.
SpringHill Suites Las Vegas Convention Center — Apple Hospitality acquisition
SpringHill Suites Las Vegas Convention Center · 299 keys · Upscale
Consideration
$75.0M
$251k / key
Apple 2023 10-K table: $75.0 million for the existing 299-room Convention Center SpringHill Suites. Convention Center SpringHill — not a Strip palace PPK.
Apple Hospitality REIT Form 10-K for the year ended December 31, 2023 (closed December 27)
Apple acquired the existing 299-room SpringHill Suites Las Vegas Convention Center on December 27, 2023 for a $75.0 million gross purchase price. Harbor PPK is $75.0 million ÷ 299. Apple rounded the same math to about $251,000 per key. Use the table price, not transaction costs. Seller unnamed. Rooms-focused — not a Strip palace PPK. Apple’s $289.75 million 2023 line is the sum of six named hotel prices plus a $9.14 million garage that is not a hotel tape. Older than the 2025–26 blotter cut.
News / press releaseMay 2, 2022
The Cosmopolitan of Las Vegas — Blackstone to MGM
The Cosmopolitan of Las Vegas · 3027 keys · Luxury
Consideration
$5.65B
$1.9M / key
Total consideration: cash, assumed CMBS, and residual land — not rooms-only.
MGM Resorts press release (announced 2021; closed 2022)
MGM acquired The Cosmopolitan from Blackstone. Published consideration mixed cash, $3.68B CMBS assumption, and residual land. Hotel-casino. Do not use this PPK on a rooms-only boutique.
News / press releaseFeb 23, 2022
The Venetian Resort Las Vegas — Sands to Apollo / VICI
The Venetian Resort Las Vegas · 7092 keys · Upper upscale
Consideration
$6.25B
$881k / key
Ops to Apollo affiliates; real estate to VICI. Includes expo and gaming.
Las Vegas Sands / VICI Properties press releases, 2021–2022
Las Vegas Sands sold The Venetian Resort. Structure split operations and real estate. $6.25B is not a rooms-only hotel sale. Expo, retail, and gaming are inside the number.
News / press releaseFeb 14, 2020
MGM Grand & Mandalay Bay — sale-leaseback
Las Vegas · 9300 keys · Upper upscale
Consideration
$4.60B
Two hotel-casinos in one real-estate sale-leaseback to MGP / Blackstone vehicles.
MGM / MGM Growth Properties announcements, 2020
Combined real-estate sale-leaseback. Harbor does not split the $4.6B into two invented hotel prices. Not a rooms-only comp.
News / press releaseNov 15, 2019
Bellagio real estate — sale-leaseback to Blackstone / GIC
Bellagio · 3933 keys · Luxury
Consideration
$4.25B
$1.1M / key
Sale-leaseback of real estate. MGM continued to operate under a long lease.
MGM Resorts announcement, 2019
MGM sold Bellagio real estate to Blackstone Real Estate and GIC and leased it back. This is a financing/real-estate structure, not a conventional going-concern hotel sale. Cap-rate comparisons to a boutique independent will mislead.
News / press releaseMay 15, 2014
The Cosmopolitan of Las Vegas — Deutsche Bank to Blackstone
The Cosmopolitan of Las Vegas · 3027 keys · Luxury
Consideration
$1.73B
$572k / key
Hotel-casino going-concern. Not a rooms-only boutique tape.
The New York Times DealBook, May 2014
Blackstone agreed to buy The Cosmopolitan from Deutsche Bank for $1.73 billion. Hotel-casino. Use as a structure-aware Strip tape, not a 120-key independent comp. Later 2022 MGM consideration is a different capital stack.