Last year Asher Gabay bought a vacant motel across from the Mandalay Bay for $7.4 million with plans to built a new resort hotel on land now occupied by a Motel 8. We often hear about potential new resort properties that never go ahead but this one looks like it might happen in an area of the Strip across from resorts such as the Mandalay Bay and the Luxor which is mostly vacant motels or buildings. The planned resort will be called Astral and have a casino with 620 rooms over 34 floors as well as a four level underground parking garage, a sky lobby on the 32nd floor and of course a nightclub as well as a rooftop pool with a day club.
The current Motel 8 is expected to keep operating up until the planned start of construction in Spring of 2020. The project is expected to cost between $325 million and $350 million and with the Raiders Stadium now under construction located close by as well as possible extension of the monorail, the South Strip could be much busier by the planned 2022 opening date of this property.