Fertitta buying Strip land for resort

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Billionaire Tilman Fertitta is acquiring property on the Las Vegas Strip and plans to develop an upscale hotel, raising the prospect of a new resort on the Strip.

The site, at the south-east corner of Las Vegas Boulevard and Harmon Avenue, spans about six acres and sources said Fertitta is acquiring the spread for more than $200m. It currently features retail and restaurant space and a Travelodge motel.

The property also is across from the CityCenter complex, home of the Aria, Vdara and Waldorf Astoria Las Vegas hotels, luxury mall Shops at Crystals and condo complex Veer Towers.

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