Date: April 2018
Location: Atlantic City, New Jersey, USA
Name: Ocean Walk Hotel & Casino – to open summer 2018
No. of Keys: 1,399
Developer: Hyatt Hotels Corporation and AC Ocean Walk announced that a Hyatt affiliate has entered into a franchise agreement with AC Ocean Walk for the Ocean Resort Casino located at 500 Boardwalk, Atlantic City, N.J.
The $3 billion landmark property, built in 2012, which was recently acquired by AC Ocean Walk, formerly the Revel Casino Hotel, for US$200m, will join The Unbound Collection by Hyatt brand, Hyatt”s growing collection of unique and independent stay experiences.
Integrated properties is the principal owner and managing partner of AC Ocean Walk, a Denver-based commercial and real estate development company, formed by Bruce and Nancy Deifik in 1990.
The company manages assets, property, leasing and disposition of the commercial property portfolio of Deifik and his investment partners.
Since its inception, the company has acquired over 103 commercial properties including mixed-use, office, retail, hotel/casino, apartment and warehouses in California, Colorado, Florida, Massachusetts, Nevada and Texas.
The company’s portfolio encompasses over 8.5 million square feet and specialises in urban mixed-use development.
The resort will be situated on 20 acres on the famed Atlantic City Boardwalk, and at 710 feet and 60 stories tall, will be the tallest structure in Atlantic City. It is expected to open in summer 2018 and will be operated by AC Ocean Walk.
Ocean Resort Casino will be the eighth hotel in North America to open as part of The Unbound Collection by Hyatt portfolio, which launched in 2016, joining the recently opened Holston House Nashville in Nashville, Tenn., The Bellevue Hotel in Philadelphia, and Spirit Ridge in Osoyoos, British Columbia. The Eliza Jane in New Orleans is expected to join the portfolio, when it opens this spring. In addition, The Unbound Collection by Hyatt properties include The Driskill in Austin, Texas, Royal Palms Resort & Spa in Phoenix, The Confidante in Miami Beach, Fla., Hotel du Louvre in Paris, and Carmelo Resort & Spa in Uruguay.
The expansive 6.4 million-square-foot luxury resort will feature a 138,000-square-foot luxury casino, 160,000 square feet of indoor meeting and convention space with another 90,000 square feet of flexible outdoor special event space, five swimming pools, including a salt-water pool, a sun deck with cabanas, and distinctive dining from premiere restaurant groups Garces Group and LDV Hospitality and entertainment experiences that will feature lively day and nightclubs and a best-in-class sports bar.
The resort will include a 32,000-square-foot onsite location of exhale, Hyatt”s newly acquired fitness and spa brand, which will feature 32 treatment rooms, a mind body studio and retail boutique. The new spa will be the first exhale experience to open within a Hyatt-branded property.
THPT Comment: So it’s not just Las Vegas that has seen several deals and change of hands of hotel casino properties in the US, this year. Well done to Hyatt for it’s Unbound Collection brand. To buy $3bn for £200m seems like the bargain of the century!
First Seen: TopHotel News