The Rio Las Vegas will receive a significant facelift on its way to rebranding under the Hyatt name, the hotel-casino owners said Thursday.
An affiliate of Dreamscape Companies LLC purchased the Rio from Caesars Entertainment Corporation in 2019 for $516.3m.
Hyatt Hotels Corporation on Thursday said a Hyatt affiliate entered into franchise agreements with an affiliate of Dreamscape, which will lead a multi-phase renovation project.
The Rio, which has more than 2,510 rooms, will see its current public spaces redeveloped, the companies said. The renovation will include changes to gaming, retail, food and beverage, spa and fitness, and the pool recreation deck.
One of the hotel’s existing towers will be renovated to become a 1,501-room Hyatt Regency hotel with standard guestrooms averaging 580 square feet.
The remainder of the Rio’s guestrooms will be branded or affiliated with one or more other Hyatt full-service brands after they are renovated, the companies explained.
In addition, Hyatt promised more than 220,000-square-feet of function space and “state-of-the-art” meeting facilities after the project is completed.
“We are thrilled that Dreamscape will help us bring multiple Hyatt full-service brands to Las Vegas, starting with a Hyatt Regency hotel,” Kimo Bertram, Hyatt’s VP of real estate and development, said in a statement. “We know Las Vegas is an important destination for our guests, World of Hyatt members and customers, and this project is a significant step for Hyatt as we continue to grow our brands in markets that matter most to our loyal travelers.”
