Photo: Credit: Kabik Photo Group & Toby Acuna
LAS VEGAS (May 11, 2022) – Today, Blackstone and The Cosmopolitan of Las Vegas surprised 5,000 employees (CoStars) each with individual $5,000 bonuses, totaling an unprecedented $27 million. More than 2,500 of The Cosmopolitan’s employees were in attendance during the CoStar appreciation event held in The Chelsea theater.
The event kicked off with a heartfelt video presentation, highlighting the resort’s transformative journey since Blackstone’s ownership seven years ago. President and CEO of The Cosmopolitan of Las Vegas, Bill McBeath, then took The Chelsea stage to thank CoStars for their unwavering commitment in making The Cosmopolitan the leading luxury hotel-casino on the Las Vegas Strip.
“We have incredible partners in Blackstone. In just seven short years, we were able to transform every single facet of the resort” said McBeath. “But more importantly, it was you – the CoStars, the people, that breathe the life and vitality into The Cosmopolitan that makes it [the most successful resort in Las Vegas].”
As the celebratory event came to a triumphant high, McBeath handed out employee recognitions, building anticipation around the final award, which featured a $5,000 grand prize from Blackstone. A climatic drumroll led to McBeath revealing that every single CoStar would be awarded the bonus, totaling more than $27 million in bonus payouts. The room erupted into cheers as confetti rained down on the celebration. Tears and applause filled the packed theatre as CoStars soaked in the exciting news.
Tyler Henritze, Head of Strategic Investments for Blackstone Real Estate, said, “We are incredibly proud of what we accomplished at The Cosmopolitan under our ownership to create the most dynamic destination on the Las Vegas Strip. We know that none of that would have been possible without the hard work and dedication of the resort’s amazing employees, and we are thrilled to recognize those contributions.”
Through Blackstone’s ownership and Bill McBeath’s leadership, this event marked the culmination of The Cosmopolitan of Las Vegas’ unmatched success:
· The redevelopment of 3,000+ rooms and suites, the introduction of 20+ world-class food and beverage concepts and an investment in forward thinking resort technology.
· Redefining luxury and high-end gaming with the introduction of the Boulevard Penthouses, private jet, high-limit gaming facilities and more.
· Becoming the first resort on the Las Vegas Strip to achieve an 80% employee COVID-19 vaccination rate.
· Donating more than $9 million to local Las Vegas charities.
· Amassing 570+ awards including: USA Today’s Best Casino, Inc.com’s Most Socially Savvy Hotel, Condé Nast Traveler’s Reader’s Choice Awards for Best Hotel as well as Human Rights Campaign Best Places to Work for eight consecutive years, and one of America’s Best Employers by Forbes Magazine in 2020.