Stalled financing plans left the developers owing tens of millions, but construction should resume as soon as they secure a new funding scheme
Shopoff Realty Investments, one of the companies behind the project, is confident that the planned hotel is promising enough to draw additional investors. Rising inflation and other economic pressures almost doubled the construction costs, and the funding-related delays may push back the planned late 2024 launch. Despite ongoing difficulties, the developers remain optimistic and will do their best to see the project to its conclusion.
Problems Arose from the Very Start
Dream Hotel Group’s Las Vegas venue started construction in July 2022 with a ceremonial groundbreaking. The project aims to deliver a boutique-style experience, contrasting with the expansive casino resorts most common on the Strip. Once completed, Dream Las Vegas will feature 531 rooms, a selection of unique restaurants, 30,000 square feet of casino space, and many other amenities.
Shopoff Realty Investments, one of the companies behind the project, is confident that the planned hotel is promising enough to draw additional investors. Rising inflation and other economic pressures almost doubled the construction costs, and the funding-related delays may push back the planned late 2024 launch. Despite ongoing difficulties, the developers remain optimistic and will do their best to see the project to its conclusion.
Problems Arose from the Very Start
Dream Hotel Group’s Las Vegas venue started construction in July 2022 with a ceremonial groundbreaking. The project aims to deliver a boutique-style experience, contrasting with the expansive casino resorts most common on the Strip. Once completed, Dream Las Vegas will feature 531 rooms, a selection of unique restaurants, 30,000 square feet of casino space, and many other amenities.