Last updated: 11:22 AM ET, Mon June 06 2016

Las Vegas' Monte Carlo Resort & Casino to Undergo $450 Million Rebranding

Hotel & Resort | Patrick Clarke | June 06, 2016

Las Vegas' Monte Carlo Resort & Casino to Undergo $450 Million Rebranding

Photo courtesy of Thinkstock

MGM Resorts International is set to rebrand Las Vegas' Monte Carlo Resort & Casino in a massive $450 million transformation.

The global hospitality company announced Friday that it has entered a partnership with the Sydell Group to reimagine the resort. The result will be two separate hotel experiences.

The duo will introduce the Las Vegas version of Sydell's popular NoMad Hotel and launch a new luxury hotel named Park MGM. The latter is a brand new concept from MGM and Sydell aimed at a younger, well-traveled demographic placing a priority on experiences and innovative design.

Nonetheless the Park MGM hotel will retain some of the Monte Carlo's European-inspired design elements. It will also boast a whopping 2,700 rooms.

Meanwhile, the NoMad Las Vegas, which will look to build on the success of NoMad's New York flagship, will feature 292 guestrooms.

On top of the renovated guestroom offerings, the two hotels will boast unique food and beverage experiences, highlighted by the award-winning NoMad restaurant by Chef Daniel Humm and restaurateur Will Guidara.

READ MORE: Wynn Resorts Is Building a Beach on The Las Vegas Strip

"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," said MGM Resorts International president Bill Hornbuckle in a statement. 

In his own statement, Sydell Group founder and CEO Andrew Zobler said the collaboration "felt very natural."

"MGM is the preeminent operator of casino resorts and has extensive expertise leveraging unique guest experiences across properties with great scale," added Zobler. "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 and beverage."

READ MORE: MGM Resorts Acquires Boyd Gaming's 50 Percent Stake in Borgata

In addition to the NoMad in New York, Sydell is the creator and operator of The Line in Los Angeles as well as the Freehand in Miami and Chicago.

Once complete, the two hotels will represent the final pieces of MGM's complete redesign of the central Las Vegas Strip neighborhood, which began seven years ago and included the recent openings of The Park and T-Mobile Arena.

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