Virgin Hotels Las Vegas, which opened on March 25, is planning to add new amenities including a pool, a beach club, a number of restaurants and a sportsbook.
Richard “Boz” Bosworth, president and CEO of the resort’s ownership group, told the Las Vegas Review-Journal that hotel occupancy is “hovering below” 30 percent during the week rooms and up to 80 percent on weekends.
“That’s because we’re brand-new, and that’s what to be expected,” Bosworth said, “because we literally started with no reservations. So we’re building, and the market is very much booking for the next 30, 60 and 90 days out.”
He said the property has booked tens of thousands of group room nights starting in June. By then, the new pool will be open, as well as the Elia Beach Club.
“(We were not) waiting for entertainment, we were not waiting for events to come back. We were not even waiting for market occupancy and rates to come back,” Bosworth said. “We wanted to get open because we felt it was safe, knowing that it was an opening that was going to take over a period of months, as we opened up our swimming pools, as we opened up more restaurants and nightlife, that it was going to take a period of time.”
“So this is exactly as we had expected, knowing that we were opening up into a market that was going to grow and we would grow with the market.”
Joe Hasson, general manager of Mohegan Sun Casino at the hotel, said U.K.-based Betfred hasn’t yet received regulatory approval to run the sportsbook, which may not open until the third quarter.
“This resort is still building everything from swimming pools to top-end hotel rooms to multiple restaurants that are still forthcoming,” Hasson added. “So even though it’s in its infancy, there’s more to come.”
Brendan Bussmann, analyst with Global Market Advisors, said it’s a uniquely challenging time for a Vegas resort to open, but relaxing Covid-19 protocols will help, as will pent-up demand.
“I think once you hit that summer crowd, I think they’ll do great,” Bussmann said.
