Dreamscape Companies, owner of Rio Hotel & Casino, announced a multi-year renovation of the resort. In partnership with Fettle, Gianpiero Gaglione Interior Design (GGID), Lifescapes International and Marnell Architecture, the makeover will start in Q4 of 2023. The property will remain open throughout the renovations.
Earlier this year, Dreamscape Companies announced it has raised $850 million from REITs (real estate investment trusts) to remodel the resort and invest in similar properties. The company acquired Rio Hotel & Casino in late 2019 from Caesars Entertainment, contemporaneously entering into a sale lease-back transaction with Caesars to operate the property.
Marnell Architecture's principal Tony A Marnell II was the original owner and developer of Rio Hotel & Casino. The firm also participated in the remodel of The Cosmopolitan Las Vegas, both Aria Hotel & Casino and Caesars Palace convention center expansions, and more.
The multi-year redevelopment of the resort includes a full refresh of the 2,500 all-suite guest rooms; 150,000 square-foot casino floor; 220,000 square-foot meeting and conventions space; five acres of poolside amenities and general resort areas, with the design of several new food and beverage concepts.
“The Rio has been an iconic property in Las Vegas for over two decades and we are thrilled to be working with such a talented and experienced team to bring our vision for the property to life,” said Dreamscape Founder Eric Birnbaum. “We are confident that with the talent we have brought on board, from both an architectural and design element, we will create a new and differentiated experience for our guests to enjoy.”