Rio Hotel & Casino Las Vegas is undergoing significant changes: first came a multimillion-dollar renovation, and now, the resort has a new leader.
Earlier this week, Rio Hotel & Casino appointed Patrick Miller as president and CEO. The 28-year gaming and hospitality industry veteran takes over the top job as the resort undergoes a $340 million renovation in preparation to join the Destination by Hyatt brand.
Miller joins Rio Hotel & Casino from MGM Resorts International, where he most recently held the position of senior vice president overseeing hospitality divisions at MGM Grand, New York-New York, Excalibur, Signature and the Shadow Creek golf course.
Previously, Miller served as president and COO at Park MGM and NoMad Hotel, where he spearheaded the half-billion-dollar transformation of Monte Carlo into Park MGM.
Having overseen that brand transition, Miller is “the perfect person to lead the total revitalization of Rio Hotel & Casino,” Eric Birnbaum, chairman of Rio Hotel & Casino property owner Dreamscape, said in a statement.
New York-based real estate investor Dreamscape acquired Rio Hotel & Casino from Caesars Entertainment for $516 million in 2019. The resort, though, only recently left Caesars’ system.
Caesars CEO Tom Reeg said during a second-quarter 2023 earnings call that Rio was a “drag on EBITDA” for the company that quarter. The property officially exited Caesars’ system the following quarter on Oct. 2, Reeg confirmed during the following quarter’s earnings call.
The property will join Destination by Hyatt this fall following a full renovation and redesign.
The first phase of renovations, currently underway, will revamp the 1,501-room Ipanema Tower, arrival area, building exterior, lobby, gaming floor, sports book, multiple food and beverage outlets, meeting spaces and outdoor pool area, Hyatt detailed in March.
Phase two will include upgrades to the hotel’s 1,012 Masquerade Tower guest rooms and public areas.
