LAS VEGAS-Marriott International on Thursday acknowledged its acquisition of nearly an entire block across from the Las Vegas Convention Center. Two-and-a-half months after GlobeSt.com broke the story, company EVP Arne Sorenson says the company has spent $230 million accumulating 16 acres across Paradise Road from the LVCC and is working on plans for a 3,500-room casino-resort with 500,000 sf of meeting space. The company hopes to start construction this time next year and open in the second half of 2011.

“We have a broad convention hotel network and Las Vegas is an important, high-demand group market where we are not adequately represented,” Sorenson said during the company's quarterly conference call. “We are working with a possible partner on a project and do not plan to build it on our balance sheet, nor do we expect to ultimately manage the casino.”

The properties are all located on the block bound by Convention Center Drive, Paradise Road, East Desert Inn Road and Debbie Reynolds Drive. Immediately to the west, across Paradise Road, is the Las Vegas Convention Center. Immediately to the south, across East Desert Inn Road, is the Wynn Las Vegas Golf Club.

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