The Most Expensive Hotel In The United States

[Music] based in the iconic las vegas strip is the luxury hotel the cosmopolitan of las vegas this quirky and decadent building is perhaps one of the most expensive hotels to ever be constructed in america yet it wasn't always smooth sailing in fact just building the structures was a disaster for the original developers yet in the end it's now littered with extravagant features and facilities today we're going to take an in-depth look at this enticing hotel and casino from its troubles to its rise to being filled with tempting treats and stunning sweets so let's get started the hotel is based on boulevard street in the nevada city the cosmopolitan is actually formed of two towers which are both 603 feet tall the chelsea tower and the boulevard tower between them they feature a staggering 3027 rooms there's also a casino that takes up 100 000 square feet the difference between the towers stems from the decor the boulevard is tailored more for adults while the chelsea isn't exactly kid-friendly it doesn't contain as many adult themes as its twin when the luxury hotel opened in 2010 it had reportedly cost 3.9 billion dollars to create by 2014 this was adjusted to 4.16 billion dollars today with inflation that would be 4.7 billion making it one of the most expensive hotels in the world let alone in the u.s the project of the cosmopolitan was first proposed during 2004 and was headed by the developers 3 700 associates to begin with the team spent 90 million dollars on a u-shaped 8.5 acre parcel shortly after the main architectural teams of the fried mutter group and architect tonica got to work on what was then known as the cosmopolitan resort and casino at the time the plans were to create a mix of hotel suites and condos it was expected to cost 1.5 billion dollars and open by 2008 however neither of those expectations ended up being the case by 2008 the construction cost was now at 3 billion double the initial estimate then the developers began to hit money troubles in fact they defaulted on a 760 million dollar loan the lender of the cash deutsche bank began looking into foreclosing the hotel instead they decided to purchase the project for one billion dollars and began hiring organizations to finish their new project not long after the cosmopolitan began to face a number of lawsuits firstly in 2008 hearst communications who owned the name for cosmopolitan magazine sued cosmopolitan resorting casino for the use of their trademark they were looking for 500 000 in damages and a share of the resort's profits in 2010 the suit was settled as part of it the hotel's name was changed to cosmopolitan of las vegas during 2009 cosmopolitan was then sued by over 400 condo purchasers this is because the hotel had decided to move away from incorporating condos and instead focus on creating suites cosmopolitan ended up paying the group 60 million dollars in damages granting each of the condo purchasers around 90 grand deutsche bank had attempted to sell off the project numerous times after all from 2010 to 2014 the hotel had made a net loss of 440 million dollars during 2014 the german bank was looking for two billion dollars for the cosmopolitan in the end they sold it to the new york based team the blackstone group for 1.7 billion by 2017 the cosmopolitan would undergo a massive renovation especially when it came to their suites they wanted to install a virtual concierge by having ipads placed in each room on top of this the rooms were being redesigned completely while there were also changes at the game rooms and bars the cost was reported to cost more than 100 million dollars now we wanted to showcase the cosmopolitan of las vegas amazing features starting with the restaurants and bars when it opened in 2010 the hotel wanted to bring in a load of top of the range restaurants to start with they had bruce and eric bromberg's blue ribbon scott conan's scarpetta costas piliates estiario milos and david meyer's comb saw current restaurants include three by chef jose andres which are e by jose andres china poblano and haleo there's also christina tosi's milk bar rick jen corelli's lardo david chang's momofuku and chris santos beauty and essex currently there are 26 restaurants and cafes while on the drink side there's eight bars lounges and nightclubs on site including the marquee lounge in 2012 it was the top grossing nightclub in america by bringing in between 80 and 90 million dollars for those looking for a dip in the pool the cosmopolitan has three for you to choose from there's the nightclub inspired poolmark key the day club boulevard pool and the relaxation of the chelsea pool users at the boulevard in chelsea can also rent a cabana during the day they can cost up to thousand and fifty dollars at boulevard depending on the day and nine hundred dollars at chelsea while stat pool mark key you can rent what's called a prime bungalow for the day at five thousand dollars if relaxing is more your thing there's plenty of opportunity at the cosmopolitan to do just that it has a spa that has an entry fee of 95 dollars for non-hotel guests the spa also features asara hamam the relaxation ritual called moroccan journey lasts for 130 minutes and costs up to 540 dollars but if working out is more your speed there's two fitness centers available the one in the boulevard tower is 2087 square feet altogether while the one in chelsea tower is 5250 square feet both of which are decked out in techno gym equipment the hotel also offers the service of a personal trainer for a 90 minute workout it costs 140 as we mentioned the casino at cosmopolitan is one of the big selling points after all it is based in vegas the casino covers a range of needs for starters the slot machines they have denominations of up to five hundred dollars there's also an exclusive high limit slot lounge for big spenders there's an area dedicated to table games such as poker blackjack and so on in the high limit table games lounge there's a minimum bet of a hundred dollars there's even a race and sports book area for those wanting to gamble on sports another perk of being a high roller is that the boulevard penthouse is said to be free to them during their stay speaking of rooms the cheapest at the cosmopolitan is the city room with 460 square feet the room features two queen-sized beds and a small sitting area in the corner the decadent bathroom has two sinks to go with its marble flooring for a week this room for one person can cost up to twenty four hundred dollars depending on the season as for the creme de la creme we have the chelsea penthouse the suites are all individual and start from 2400 square feet the walls are even crystal encrusted and contain artworks as well the penthouse can either be two bedrooms with king size beds for up to four guests or three bedrooms that can house up to eight guests altogether the penthouses have floor-to-ceiling windows with panoramic views of the vegas strip like most rooms there's also a terrace the guests can enjoy another feature is the wet bar in the suite for the two-bedroom all of this can cost up to thirteen thousand four hundred dollars per week for those wanting even more luxury the cosmopolitan offers a package called the access excess with this you get to stay in the exclusive boulevard penthouse for three nights with 24-hour butler service if flying to the hotel from within the u.s a private jet trip is offered with collection to and from the airport you'll also have use of a personal photographer to capture the weekend guests can enjoy exclusive dinners at various on-site restaurants with an extra two thousand dollars dining credit as well as a vip table at the marquee nightclub various spa treatments and fitness activities are also included in the package guests will even get a custom made suit and a private helicopter tour of vegas all of this will set you back an eye-watering 250 thousand dollars final fact finish the current title holder of the world's most expensive hotel to build belongs to the abraj al bait in mecca saudi arabia the government-owned structure is right next to the great mosque of mecca it has the iconic clock tower and features both residential and hotel facilities opened in 2012 it's believed to have cost 15 billion dollars to construct thanks for joining us today we'll see you next time

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Keywords: Abraj Al, Boulevard Tower, Chelsea Tower, Cosmopolitan Las Vegas, Cosmopolitan Magazine, Cost To Build, Deutsche Bank, Facts Features, Jose Andres, Las Vegas, Luxury Casino, Luxury Hotel, Most Expensive, Rooms Suites, Swimming Pools, therichest, the richest

Id: _IsHYOgPvH0

Length: 8min 28sec (508 seconds)

Published: Wed Apr 14 2021