The Las Vegas Strip has been hitting us with a lot of bombshells lately. Lately, that’s primarily been MGM Resorts International offloading many of their signature properties, such as the Bellagio. But now we’re learning that MGM is taking over the management of the Cosmopolitan of Las Vegas.
Earlier this week, Blackstone announced its massive sale of the Cosmopolitan of Las Vegas. It was a major boon for the New York-based company, which earned $5.65 billion from the sale. They purchased the Cosmo for $1 billion and have since invested $500 million in it, meaning they netted out over $4 billion in the deal. The new owners of the Cosmopolitan include a group of investors lead by the Cherng Family Trust, Stonepeak Partners, and Blackstone Group’s own Real Estate Income Trust Inc.
MGM Taking Over Management of the Cosmopolitan
You’ll notice that MGM Resorts International isn’t an owner in this deal. Indeed, they aren’t. However, MGM did pay over $1.6 billion to acquire the resort’s operating rights for the next 30 years. In the deal, MGM must pay $200 million per year in rent subject to 2% annual increases for the first 15 years followed by increases of the greater of 2% or the increase of the consumer price index capped at 3% per annum for the next 15 years. MGM also gets the option to extend their lease for three additional 10-year terms.
What’s Changing?
For now? Nothing. The sale isn’t expected to close until early 2022. However, once the sale closes, I expect to see the Cosmopolitan’s Identity program disappear. The Cosmopolitan’s status as a Marriott Autograph Collection property will also end at that time too. After all, MGM’s Mlife program has an existing relationship with the World of Hyatt. What actually happens, though, remains to be seen.
What Marriott Bonvoy Members Currently Get
In case you aren’t familiar, these are the benefits Marriott Bonvoy members currently enjoy at the Cosmopolitan:
- Silver Elite
- 10% bonus points on stays
- Gold Elite
- 25% bonus points on stays
- Access to the Invited Guest line for check-in/out
- Enhanced 1-tier room upgrade (subject to availability during check in)
- 500 bonus points
- Priority 1PM late check out (subject to availability)
- Platinum Elite
- 50% bonus points on stays
- Access to the Autograph Lounge (includes coffee, tea, and water)
- Enhanced 1-tier room upgrade (subject to availability during check in)
- 1,000 bonus points or a $10 F&B credit
- Priority 2PM late check out (subject to availability)
- Expedited seating at Wicked Spoon Buffet (subject to availability) including a 15% discount for up to 4 people (excluding alcohol)
- Non-hotel guests with Marriott Bonvoy Platinum Elite status receive expedited seating (subject to availability) and payment only at Wicked Spoon Buffet
- 15% discount on Sahra Spa, Salon & Hammam services (excluding Day Passes & retail purchases)
- Titanium Elite
- All the same benefits as Platinum Elite except for 75% bonus points on stays
- Ambassador Elite
- Identical to Titanium Elite
As you can see, the Cosmopolitan doesn’t adhere to Marriott’s usual requirements when it comes to elite member benefits. What’s more, when you stay at the Cosmo, you have to choose between receiving your Marriott Bonvoy benefits and earning towards that program OR enjoying benefits and earning towards your Identity membership.
Identity Benefits
Speaking of the Cosmopolitan’s own Identity program, here’s what members of the program enjoy:
- Velvet
- Nothing
- Sterling
- 1 complimentary room night per year
- 2x slots multiplyer
- One 2-for-1 buffet at Wicked Spoon per month
- 2-for-1 tickets at Opium
- Personalized offers
- Complimentary self-parking
- Dedicated reservation line
- Gold
- 2 complimentary room nights per year PLUS 2 complimentary room nights per year for your travel companion
- 2x slots multiplyer
- One 2-for-1 Wicked Spoon buffet per day with priority access
- 2-for-1 Opium, concert & show tickets
- 2-for-1 special event tickets
- Concert express entry
- Complimentary resort fee, self-parking, and valet parking
- Early check-in/out when available
- Platinum
- At least 2 complimentary room nights per year PLUS 2 complimentary room nights per year for your travel companion
- Complimentary room upgrades when available
- Priority valet and expedited taxi service
- Airport transportation
- Invited guest check-in line
- $250 annual resort credit
- 2x slots multiplyer
- One 2-for-1 Wicked Spoon buffet per day with priority access
- 2-for-1 Opium, concert & show tickets
- 2-for-1 special event tickets
- Concert express entry
- Complimentary resort fee, self-parking, and valet parking
- Early check-in/out when available
As you can see, Identity members get pretty good benefits. But, again, you have to choose between Identity and Marriott Bonvoy when staying.
M life Rewards
If and when the Cosmopolitan transitions to M life Rewards, these are the benefits members can expect.
- Sapphire
- Dedicated reservation line
- Personalized offers on mlife.com, including on hotel rooms
- Access to M life Moments
- Mobile check-in via MGM Resorts Mobile App
- Benefits and offers from M life partners
- Pre-Sale Ticket Access to Select Events, Concerts and Fights
- Discounts to Select Shows at M life Rewards Destinations Nationwide (subject to availability)
- 5% discount at participating retailers
- Pearl
- Same benefits as Sapphire but adds:
- Complimentary self-parking
- 10% discount at participating retailers
- Dedicated Line at the Buffet
- Avis car rental discounts
- Same benefits as Sapphire but adds:
- Gold
- Same benefits as Sapphire and Pearl but adds:
- Complimentary valet parking
- Priority hotel check-in line at front desk
- Room upgrade (subject to availability at check-in)
- Dedicated line at participating restaurants
- Fine dining priority reservations
- VIP line access at select Las Vegas night clubs for you and a guest
- Same benefits as Sapphire and Pearl but adds:
- Platinum
- Same benefits as Sapphire, Pearl, and Gold but adds:
- 15% discount at participating retailer
- Priority access for valet and taxi service
- Platinum experience at check-in in Las Vegas
- Priority access for pool cabana, spa, and salon reservations
- Annual complimentar cruise for qualifying members on Royal Caribbean or Celebrity Cruises
- Same benefits as Sapphire, Pearl, and Gold but adds:
- Nior
- Same benefits as Sapphire, Pearl, Gold, and Platinum but adds:
- Guaranteed advance hotel reservations
- VIP Lounge check-in
- Guaranteed advance restaurant reservations
- Complimentary limousine service to/from nearest airport during hotel stay
- Same benefits as Sapphire, Pearl, Gold, and Platinum but adds:
World of Hyatt
It’s worth noting that World of Hyatt members can status match to M life with Discoverists getting Pearl and Explorists and Globalists matching to Gold. Plus, WoH members earn 5 points per dollar spent, and Earn Qualifying Night and Base Point credit toward World of Hyatt elite status. Of course, you can also redeem World of Hyatt points at M life properties, while you can choose to earn towards M life properties at Hyatt properties.
MGM Taking Over Management of the Cosmopolitan, Final Thoughts
Honestly, I have a love-hate relationship with the Cosmopolitan. My one stay there so far was a little disappointing and I ALWAYS have had issues with their Identity program. In fact, it’s at the point where I can’t login to my account anymore and no one will help me. What’s more, I was supposed to earn Starling status during my recent trip to Vegas, but, somehow, my account didn’t get credited for anything. So, yeah, I’m kind of done with them and am looking forward to them adopting M life. But, for those of you that Identity does work for, this will be a bit of a downgrade, in my opinion. Marriott Bonvoy benefits here were never really all that great to begin with, so?
How do you guys feel about this change?
I’m gold identity and platinum Marriott. Very very disappointed. I’m going to have to find a new home casino.
I’m surprised you can’t even login to identity. I don’t have much terrible. In fact my ID didn’t have my correct birthdate and the identity desk ironed that out for me once I got my ID corrected. Unfortunate they couldn’t even help you out getting access to your account. Maybe your email or bday is wrong the system?
If your stay with them was recent (I forget how many months grace you get) and you have the folio, I’d just call them to get the points. Or if you have Marriott send the folio to them to get points. They have an area on their website specific for that. I’ve submitted fairly old folios to Marriott and they had no issues.
If it was a restaurant purchases a lot of the times you have to do those in person at the identity desk, there’s some sort of technical disconnect with some of the restaurants. To avoid those issues I just had my room charged. Got sick of giving receipts to the identity desk.
I’ve been treated well even when just a gold Marriott. Only “Marriott” that has upgraded me this year actually haha.
I booked a 4 night stay next month, I’ll have to funnel everything into Marriott rewards. Who knows what they’ll do to identity points when converting.
It was fun while it lasted I guess.
Forgive my mistakes. Wrote it on a phone.
I’ve been exceedingly unlucky when it comes to Identity. This past time, I lost out on a huge amount of restaurant spend and the Identity desk was unwilling to help me because I had digital records of the purchase rather than a physical receipt. Their excuse was “no one has reception in the casino, so don’t even try.” When I was sterling, they did get my email wrong and when I contacted them to correct it, that’s probably when a second account under my name was created and is causing a lot of the issues I’m experiencing today. If I had a better experience with them, I’d probably feel differently. But, unfortunately, that hasn’t been the case at all. M Life, on the other hand, has been good to me. Mostly.
Just read your Cosmo blog, it’s been a while since you stayed I see. So nvm about those points.