The Most Expensive Hotel In The United States

Based in the iconic Las Vegas Strip is the luxury hotel, The Cosmopolitan of Las Vegas. This quirky and decadent building is perhaps one of the most expensive hotels to ever be constructed in America. Yet it wasn't always smooth sailing. In fact, just building the structures was a disaster for the original developers. Yet in the end, it's now littered with extravagant features and facilities. Today we're going to take an in-depth look at this enticing hotel and casino. From its troubles to its rise to being filled with tempting treats and stunning suites. So let's get started. The hotel is based on Boulevard Street in the Nevada City. The Cosmopolitan is actually formed of two towers which are both 603 feet tall. The Chelsea Tower and the Boulevard Tower. Between them, they feature a staggering 3,027 rooms. There's also a casino that takes up 100,000 square feet. The difference between the towers stems from the decor. The Boulevard is tailored more for adults. While the Chelsea isn't exactly kid-friendly, it doesn't contain as many adult themes as its twin. When the luxury hotel opened in 2010, it had reportedly cost $3.9 billion to create. By 2014, this was adjusted to $4.16 billion. Today with inflation, that would be $4.7 billion, making it one of the most expensive hotels in the world, let alone in the U.S. The project of the Cosmopolitan was first proposed during 2004 and was headed by the developer's 3,700 associates. To begin with, the team spent $90 million on a U-shaped, 8.5-acre parcel. Shortly after, the main architectural teams of The Friedmutter Group and Architectonica got to work on what was then known as the Cosmopolitan Resort and Casino. At the time, the plans were to create a mix of hotel suites and condos. It was expected to cost $1.5 billion and open by 2008. However, neither of those expectations ended up being the case. By 2008, the construction cost was now at $3 billion, double the initial estimate. Then the developers began to hit money troubles. In fact, they defaulted on a $760 million loan. The lender of the cash, Deutsche Bank, began looking into foreclosing the hotel. Instead, they decided to purchase the project for $1 billion and began hiring organizations to finish their new project. Not long after, the Cosmopolitan began to face a number of lawsuits. Firstly, in 2008, Hearst Communications, who own the name for Cosmopolitan Magazine, sued Cosmopolitan Resort and Casino for the use of their trademark. They were looking for $500,000 in damages and a share of the resort's profits. In 2010, the suit was settled. As part of it, the hotel's name was changed to Cosmopolitan of Las Vegas. During 2009, Cosmopolitan was then sued by over 400 condo purchasers. This is because the hotel had decided to move away from incorporating condos and instead focus on creating suites. Cosmopolitan ended up paying the group $60 million in damages, granting each of the condo purchasers around $90 grand. Deutsche Bank had attempted to sell off the project numerous times. After all, from 2010 to 2014, the hotel had made a net loss of $440 million. During 2014, the German bank was looking for $2 billion for the Cosmopolitan. In the end, they sold it to the New York-based team The Blackstone Group for $1.7 billion. By 2017, the Cosmopolitan would undergo a massive renovation, especially when it came to their suites. They wanted to install a virtual concierge by having iPads placed in each room. On top of this, the rooms were being redesigned completely. While there were also changes at the game rooms and bars, the cost was reported to cost more than $100 million. Now we wanted to showcase the Cosmopolitan of Las Vegas' amazing features, starting with the restaurants and bars. When it opened in 2010, the hotel wanted to bring in a load of top-of-the-range restaurants. To start with, they had Bruce and Eric Bromberg's Blue Ribbon, Scott Conant's Scarpetta, Costa Spigliati's Estiario Milos, and David Meyer's Comme Ca. Current restaurants include three by Chef Jose Andres, which are E by Jose Andres, China Poblano, and Jaleo. There's also Christina Tosi's Milk Bar, Rick Gencarelli's Lardo, David Chang's Momofuku, and Chris Santos' Beauty and Essex. Currently, there are 26 restaurants and cafes, while on the drink side, there's eight bars, lounges, and nightclubs on site, including the Marquee Lounge. In 2012, it was the top-grossing nightclub in America by bringing in between $80 and $90 million. For those looking for a dip in the pool, the Cosmopolitan has three for you to choose from. There's the nightclub-inspired Pool Marquee, the dayclub Boulevard Pool, and the relaxation of the Chelsea Pool. Users at the Boulevard and Chelsea can also rent a cabana during the day. They can cost up to $2,050 at Boulevard, depending on the day, and $900 at Chelsea. While stat Pool Marquee, you can rent what's called a Prime Bungalow for the day at $5,000. If relaxing is more your thing, there's plenty of opportunity at the Cosmopolitan to do just that. It has a spa that has an entry fee of $95 for non-hotel guests. The spa also features a Sarah Hammam. The relaxation ritual called Moroccan Journey lasts for 130 minutes and costs up to $540. But if working out is more your speed, there's two fitness centers available. The one in the Boulevard Tower is 2,087 square feet altogether, while the one in Chelsea Tower is 5,250 square feet, both of which are decked out in Technogym equipment. The hotel also offers the service of a personal trainer. For a 90-minute workout, it costs $140. As we mentioned, the casino at Cosmopolitan is one of the big selling points. After all, it is based in Vegas. The casino covers a range of needs. For starters, the slot machines. They have denominations of up to $500. There's also an exclusive high-limit slot lounge for big spenders. There's an area dedicated to table games such as poker, blackjack, and so on. In the high-limit table games lounge, there's a minimum bet of $100. There's even a race and sports book area for those wanting to gamble on sports. Another perk of being a high roller is that the Boulevard Penthouse is said to be free to them during their stay. Speaking of rooms, the cheapest at the Cosmopolitan is the City Room. With 460 square feet, the room features two queen-size beds and a small sitting area in the corner. The decadent bathroom has two sinks to go with its marble flooring. For a week, this room for one person can cost up to $2,400, depending on the season. As for the creme de la creme, we have the Chelsea Penthouse. The suites are all individual and start from 2,400 square feet. The walls are even crystal-encrusted and contain artworks as well. The penthouse can either be two bedrooms with king-size beds for up to four guests, or three bedrooms that can house up to eight guests altogether. The penthouses have floor-to-ceiling windows with panoramic views of the Vegas Strip. Like most rooms, there's also a terrace the guests can enjoy. Another feature is the wet bar in the suite. For the two-bedroom, all of this can cost up to $13,400 per week. For those wanting even more luxury, the Cosmopolitan offers a package called the AccessXcess. With this, you get to stay in the exclusive Boulevard penthouse for three nights with 24-hour butler service. If flying to the hotel from within the U.S., a private jet trip is offered with collection to and from the airport. You'll also have use of a personal photographer to capture the weekend. Guests can enjoy exclusive dinners at various on-site restaurants with an extra $2,000 dining credit, as well as a VIP table at the marquee nightclub. Various spa treatments and fitness activities are also included in the package. Guests will even get a custom-made suit and a private helicopter tour of Vegas. All of this will set you back an eye-watering $250,000. Final fact finish, the current titleholder of the world's most expensive hotel to build belongs to the Abraj Al Bait in Mecca, Saudi Arabia. The government-owned structure is right next to the Great Mosque of Mecca. It has the iconic clock tower and features both residential and hotel facilities. Opened in 2012, it's believed to have cost $15 billion to construct. Thanks for joining us today, we'll see you next time.