Rendering courtesy of Starwood Hotels and Resorts
Starwood Hotels & Resorts announced a monumental acquisition Monday, adding more than 1,600 rooms to its portfolio with the signing of SLS Las Vegas.
The addition represents the company's largest in North America since the Great Recession.
By the end of the year, two of the property's three hotel towers will operate under Starwood's new Tribute Portfolio independent hotel brand, while the LUX Tower will be renovated and converted to a W Hotel in 2016. The renovation will include 14,500 square feet of meeting and event space, a spa and fitness center as well as an outdoor pool deck and bar.
Tribute Portfolio launched in April 2015 and represents Starwood's 10th brand, while W Hotels is Starwood's 17-year-old luxury hotel chain.
Two of the towers will take on a longer name, the SLS Las Vegas, a Tribute Portfolio Resort. Meanwhile, the 289-room LUX Tower will be operated as the W Las Vegas.
"SLS Las Vegas, with some 1,600 rooms, is a milestone addition to Starwood, growing our total footprint worldwide by nearly half a percent with a single signing," Starwood's interim CEO Adam Aron said in a statement.
As part of the signing, Starwood will manage the W Las Vegas. However the SLS Las Vegas will continue to be managed by the hotel's president and COO Scott Kreeger, who called the hotel a "standout property" in a statement.
Allison Reid, Starwood's senior vice president of North America Development said "the signing of SLS Las Vegas not only allows us to expand our footprint and give our members more options on the Strip but also speaks volumes to the power of Starwood's brands and our industry-leading distribution, loyalty and sales platforms that will contribute to the success of this landmark property."
Altogether, the SLS Las Vegas comprises 1,613 guestrooms, including 120 suites. There are also eight restaurants, a trio of entertainment venues, a pair of pools, indoor and outdoor meeting space as well as a casino.
With the addition of the SLS Las Vegas - which reopened just last year after undergoing a $415 million renovation - Starwood now boasts five hotels in the Vegas market.
The signing comes amid uncertainty for Starwood, which has been at the center of sale and merger talks dating back to last month.
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