After 35 years of operation, The Mirage in Las Vegas is closing its doors to make way for Hard Rock’s new Guitar hotel. This marks a significant turnover in Las Vegas, highlighting a shift in what draws tourists to the city. Rather than focusing solely on gambling, sports, and entertainment have become major attractions in the destination city.
When The Mirage opened in December of 1989 by Steve and Elaine Wynn, it changed the landscape of Las Vegas and the gaming industry as a whole. It was not just a hotel and casino but a true destination that set a new standard in the industry. The Mirage was the first megaresort owned by the Wynns, and at the time of its opening, it was the largest hotel in the world. It set off a wave of development and growth in Las Vegas, making it the fastest-growing city in America.
Over the years, Las Vegas resorts have evolved from themed properties to luxury destinations. While themed resorts like Excalibur, Luxor, and New York-New York still cater to budget-conscious visitors, the trend is shifting towards luxury touchpoints, high-end dining, and exclusive entertainment options. Properties like The Venetian and Caesars Palace with their replica landmarks set the early standard for themed resorts, but the future lies in providing unique and high-end experiences for guests.
Hard Rock International, owned by the Seminole Tribe of Florida, has acquired The Mirage from MGM Resorts in a bid to bring a new level of luxury to the Las Vegas Strip. With properties around the world, Hard Rock has a proven track record of providing top-notch amenities, dining, and entertainment. The company plans to model its Las Vegas renovation after the successful Guitar Hotel at Seminole Hard Rock Hollywood in Florida.
Competition in Las Vegas is fierce, with properties constantly vying to stay relevant and attract visitors. MGM Resorts and Caesars Entertainment are two major players in the market, with differing approaches to investing in their properties. While MGM is focused on maximizing the benefits of its portfolio surrounding sports venues, Caesars has faced criticism for being less proactive in its property investments.
The closure of The Mirage will have ripple effects on Las Vegas tourism, with nearly a million room nights being taken out of circulation annually. This comes at a time when the city is already experiencing record-breaking room rates and visitation numbers. While the closure may provide a boost to neighboring properties in the short term, the long-term impact remains to be seen.
The closure of The Mirage and the upcoming launch of Hard Rock’s new Guitar hotel signal a new era in Las Vegas tourism. As the city continues to evolve and attract visitors from around the world, the competition among properties will only intensify. It’s a dynamic and ever-changing landscape, but one thing is certain – Las Vegas will continue to reinvent itself to stay ahead of the curve.