Construction on a new luxury hotel in Scottsdale is starting back up again after development was put on hold because of the Covid-19 pandemic.
Back in February 2020, executives from national real estate development and property management company HCW, shopping mall owner Macerich Co. (NYSE: MAC) and Caesars Entertainment Corp. (Nasdaq: CZR) held a groundbreaking ceremony for the upcoming Caesars Republic Scottsdale hotel in the parking lot of Scottsdale Fashion Square. Less than a month later the Covid-19 pandemic broke out in the United States and HCW put the project on hold.
Two years later, the developer has decided to start restart construction on the 11-story, 265-room hotel. It will be the first nongaming Caesars-branded property in the U.S. and is being built on the north side of Scottsdale Fashion Square at the intersection of Goldwater Boulevard and Highland Avenue.
The addition of the hotel to the Scottsdale Fashion Square site is part of Macerich’s plan to add more luxury and nonretail tenants to the property.
During the past two years, HCW said it has been able to update its plans for the hotel, including adding a sports betting element into the property after Arizona legalized sports wagering in 2021.
“The construction delay, a direct result of the pandemic, has actually been our silver lining by allowing us to incorporate even more little luxuries and make room for a new, dedicated online gaming space where guests can place bets on their Caesars app while watching the games in the seventh-floor lounge.” Richard Huffman, the president and CEO of HCW, said in a statement.
The hotel will have two separate restaurants designed by celebrity chef Giada De Laurentiis. There will also be a 7,000-square-foot ballroom with 34-foot-long sliding glass doors that open onto the 7,000-square-foot outdoor lawn for banquets.
The Caesars Republic Scottsdale is already taking reservations for events, starting in the second quarter of 2024. The hotel will start taking room reservations during the second quarter of 2023. The hotel is expected to open in Q1 of 2024.
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