LAS VEGAS Caesars Entertainment Corp. has created a new nongaming business unit to develop branded luxury hotels, restaurants and other lifestyle amenities in resort destinations around the world.
Caesars Global Life will pursue nongaming projects under the Caesars brand and other brands owned by the company. Most of the developments will revolve around licensing, franchising and management agreements. The company will initially focus on expanding overseas, particularly in Asia and Latin America, where the Caesars brand already carries strong cache.
Alexander Mirza, a former executive with Hilton Worldwide and Starwood Hotels & Resorts Worldwide, will head the new unit.
Last month, Caesars Entertainment announced a partnership with Nobu Hospitality—itself an offshoot of the famed restaurant brand—to convert a tower at Caesars Palace Las Vegas. That initiative will be overseen by the new Caesars Global Life unit.
The company also plans to expand beyond the Caesars brand to include the development of boutiques and lifestyle brands on Caesars Entertainment-owned real estate in Las Vegas and Atlantic City. For example, the company is opening four new restaurant concepts operated by BR Guest Hospitality, and it has also signed a letter of intent with New York-based entrepreneurs Rowen Seibel and Chris Barish to create a joint venture operating bars and lounges in Las Vegas and elsewhere.
“Our brands and reputation are our most substantial assets overseas, and this plan will allow us to leverage them into growth opportunities in hospitality and gaming,” says Caesars Entertainment CEO and President Gary Loveman.