This is going to excite some people, and really make some others mad.
News is out that MGM has acquired the Cosmopolitan casino resort via a long term lease arrangement (30 years guaranteed in 10 year increments) in Las Vegas in a deal valued at $5.65 Billion overall. Blackstone Group is selling the property which has been associated with Marriott since 2010. It’s expected that it will fold into MGM from early 2022.
Marriott fans are going to be the most saddened by the news, as they’ll most likely no longer be able to earn and redeem Marriott Bonvoy points for stays, nor will they be able to transfer points between Marriott Bonvoy and Cosmo’s Identity program after the changeover takes place. (I say “Most likely” since it’s not confirmed they will cut ties with Marriott, but they almost certainly will since MGM is tied up with Hyatt. I don’t know the terms of the current Marriott contract, however.)
Penn Gaming fans (and stockholders) will be sad that Penn won’t be acquiring a marquee casino property in Las Vegas. They own the Trip and M Resort – neither of which top anyones list of where to stay.
Caesars Rewards fans (especially those who are Diamond thanks to the Status Match Merry Go Round) will be sad because they won’t be able to stay here with waived resort fees, however I don’t find that (as a non-Caesars loyal gambler) Caesars offers any deals to Diamond tier members unless they are also gambling (fair enough!!).
MGM / MLife fans and Hyatt loyalists should be thrilled with this news. If MGM and Hyatt fold the Cosmo in the same way as all of the other Vegas properties, you’ll be able to spend Hyatt points for rooms at the Cosmo. At peak times, Cosmo rates can be quite high, so even if it prices at 25,000 or 30,000 points a night, it’s likely to be a deal at peak times. You’ll also be able to earn Hyatt elite nights with stays at the Cosmo. Unfortunately, though, the arrangement with MGM does not entitle Hyatt members or Hyatt elites to waived resort fees (which are substantial in Las Vegas) nor do elites get any special treatment with MGM. Mlife Gold members, however, are technically entitled to room upgrades.
Note that Borgata in Atlantic City is not part of the Hyatt partnership at all – so it’s always technically possible Cosmo would go the same way in which case everyone is sad, but I don’t expect this to be the case.
Personally, I’m thrilled with this.
Even though I’m Marriott Titanium, I don’t choose Cosmo because the price tends to be high and the price in points is high as well. I get great offers via MLife Gold (as a very moderate gambler) and so I expect that I’ll be able to get either COMP or very inexpensive rooms at Cosmo in the future. Cosmo is my second favorite hotel in Vegas behind Wynn/Encore.
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Thoughts?
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