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Majestic Resorts' Vegas Project in Limbo

LAS VEGAS-Hilton Hotels tells GlobeSt.com it's no longer interested in being part of the project. Majestic Resorts tells GlobeSt.com there's a contractual obligation to be resolved.

By Brian K. Miller | Updated on August 21, 2007

LAS VEGAS-Majestic Resorts’ 988-room resort project across from Boyd Gaming’s Echelon Place development is on indefinite hold, and when it moves forward again it appears Hilton Hotels will no longer be involved in the estimated $825-million project. A source with Hilton Hotels tells GlobeSt.com “the project has fallen out of the pipeline, which means it’s not moving forward.”

In the works since 2004, the most recent timeline was for the hotel-condo project to be underway by the end of this year and open in 2010, flying Hilton’s Conrad and Waldorf Astoria luxury flags and being managed by Hilton. Then Hilton was acquired by Blackstone Group and things became less clear, Majestic Resorts CEO Lorenzo Doumani tells GlobeSt.com.

“I don’t even think Hilton knows exactly what it’s doing at this point. They are under contract (with regard to our project) but everybody I ever dealt with [at Hilton] is no longer there,” Doumani tells GlobeSt.com. “It’s hard dealing with a constant revolving door of executives because you have to re-educate them; it’s a huge problem.”

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