There
was a time when the Rio Hotel & Casino in Las
Vegas was a shining star.
But that was nearly
a generation ago. And, like most shooting stars, its luster began to fade.
The Rio fell into disrepair and fell victim to the powerful
reviews and comments on social media. The hotel became the poster child for
where not to stay in Las Vegas. Its famous parade was terminated and its
incredible buffet was shuttered, among many moves.
Now, investors are spending nearly $1 billion to bring back the
hotel and revive it to its former glory. The project is being spearheaded by real
estate developer Eric Birnbaum. Between current projects and future plans, and
the cost to purchase the hotel, about $860 million is expected to be spent.
The hotel, which recently joined the World of Hyatt, was purchased by Birnbaum and his company for $516
million about five years ago. The revival and a return to vibrancy will start
with the customer experience.
Restoring the Customer Experience
“Historically, before we took over, you were waiting in a
four-hour line to check in,” Birnbaum said. “We
always felt that it had the potential to be brought back to what it once was.
It just needed the capital, it needed the right management team and it needed
the attention and focus. Everything needed to be rethought, reimagined, and
ultimately changed.”
The hotel is in the process of updating its 1,500 rooms in one of
its towers. The casino will have 500 more slot
machines. The buffet will not return, however, and has been replaced by a food
hall.
Efforts are now being concentrated on renovating the unfinished swimming pools, enhancing the entrance area and lobby, and revamping the casino floor and sportsbook. The popular
show featuring magicians and comedians Penn & Teller will remain.
“These are battleships that you’re trying to turn, and we are
slowly turning it and bringing The Rio back,” Birnbaum said. “You can’t fool
the customer. You can’t fool the guest. They’ll know, and all the blogs, all
the TikToks and all that, will ultimately see the truth. The truth is, is that
at where we’re positioning this project and what we’re delivering to the guest,
will speak for itself.”
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