The Cosmopolitan Of Las Vegas brand hotels in Blue Diamond, Las Vegas, Nevada

About The Cosmopolitan Of Las Vegas Blue Diamond

The Cosmopolitan of Las Vegas, usually called The Cosmopolitan or The Cosmo is an upscale resort casino and hotel on the Las Vegas Strip in Paradise, Nevada. It was on December 15, 2010 that this hotel opened to the public. However, the plans for the property were drawn way back in April 2004. It was a venture developed by a former Las Vegas Sands executive David Friedman, real estate developer Ian Bruce, and Soros Fund Management. The group bought the site for the hotel for $90 million from a company managed by New Frontier owner Margaret Elardi. The site is an 8.5-acre U-shaped parcel around the Jockey Club timeshare building.

The Cosmo was the second Las Vegas hotel to be built right next to The Palazzo. By 2007, a big portion of the hotel was almost finished. However, they faced financial complications in January 2008. Eichner’s company had a $760 million construction loan from Deutsche Bank when the developer missed a payment after failure to refinance for the project. In late February 2008, Global Hyatt Corporation and New York-based Marathon Asset Management recapitalized the condominium-hotel project. When the project pushed through, they encountered trademark issues with Hearst Corp for the Cosmopolitan magazine brand. In March 2010, the suit was settled and the hotel was renames Cosmopolitan of Las Vegas.