Makeover Planned for Cosmopolitan Las Vegas

February 20, 2015

Hotel News Now reported February 18 that the Blackstone Group plans to invest up to $200 million into the Cosmopolitan Las Vegas, which the company purchased in December for $1.73 billion, according to a report in the Wall Street Journal.

The makeover is part of Blackstone’s vision for turning around the Cosmopolitan, which has been one of the biggest real estate busts of all time, according to the report. Deutsche Bank, which took control of the property in 2008 after the original owner defaulted, spent about $4 billion on the project before unloading it.

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