The Signature at MGM Grand Facts for Kids

Hotel facts and statistics
The Signature at MGM Grand
Quick facts for kids

Location	Paradise, Nevada, U.S.
Coordinates	36°06′24″N 115°10′00″W / 36.1068°N 115.1667°W / 36.1068; -115.1667
Address
Opening date	May 2006; 19 years ago (May 2006)
Developer	Turnberry/MGM Grand Towers LLC
Management	MGM Grand
Owner	MGM Resorts International Turnberry Associates
No. of rooms	1,728
No. of floors	38

The Signature at MGM Grand is a special kind of hotel in Paradise, Nevada. It's called a condo-hotel, which means people can buy rooms there. These rooms can then be rented out to other guests, just like regular hotel rooms. The Signature is part of the big MGM Grand resort, which is close to the famous Las Vegas Strip.

The Signature has three tall buildings. Each building is 38 stories high. Together, they have 1,728 rooms. A company called MGM Mirage worked with Turnberry Associates to build this project. They announced the plan in 2002. Building started in 2004, and the first tower opened in May 2006. The Signature was built on land that used to be a theme park.

Some people who bought rooms at The Signature chose to rent them out. They would then share the money earned with MGM. However, starting in 2007, some buyers were unhappy. They felt that the sales information was misleading. They also said they earned less money than they expected from renting their rooms.

How The Signature Was Built
Financial Challenges
Gallery
See also

How The Signature Was Built

The land where The Signature now stands used to be home to the MGM Grand Adventures Theme Park. This theme park was built next to the MGM Grand resort. Both opened in 1993. The theme park closed in 2002.

On December 5, 2002, MGM Mirage announced a new plan. They would work with Turnberry Associates to build a new complex. This complex would have both condominiums and hotel rooms. Building luxury condominiums was a popular trend in Las Vegas at the time. Turnberry had already built another condo project nearby called Turnberry Place.

Planning and Sales

Sales for the new condo-hotel started in early 2004. At first, the project was called The Residences at MGM Grand. The plan allowed for up to six towers. The final number of towers would depend on how many rooms were sold. In the end, they decided to build three towers.

Building the Towers

Construction on the first tower began in late 2004. It was built near Harmon Avenue and Koval Lane. Work on the second tower started in early 2005. The third tower began being dug out in September 2005. This was three months earlier than planned. They started early because more than half of its 576 rooms were already sold.

The first tower was completed on October 7, 2005. It officially opened in May 2006. The second tower was finished later that same year. The third tower was planned to open in July 2007.

The Signature was the first condo-hotel to open near the Las Vegas Strip. The buildings were designed by Bergman Walls & Associates. The outside of the towers has gold-colored glass. Each building is 38 stories tall.

What It's Like Inside

Buyers could choose to rent out their rooms. They would then share the money with MGM. About 90 percent of the rooms in each tower were expected to be managed by the MGM Grand.

The Signature has its own special entrance. It also has its own staff, like bellhops and valets. This staff is separate from the main MGM Grand resort. People staying at The Signature can still use all the fun things at the main resort. A moving walkway connects each tower to the resort. The Signature also has its own swimming pool and a Starbucks coffee shop. Later, they even started offering cooking classes. These classes were shown on TV programs that lasted 30 minutes.

Financial Challenges

Most of the 1,728 rooms at The Signature were sold before the Great Recession. This was a time when the economy was very difficult.

In 2007, more than 40 buyers filed complaints. They said that the sales information was misleading. They also claimed that the money they earned from renting their rooms was lower than they expected. MGM said that the bad economy was the reason for low rental rates. However, the buyers argued that the low rates started even before the economy got worse.

By May 2009, the number of complaints grew to over 300 buyers. At the same time, the price of the rooms had dropped by 70 percent. Most of the room sales at that time were from people reselling their rooms or from banks taking back rooms.

In 2015, the company that developed the project, Turnberry/MGM Grand Towers LLC, faced financial difficulties.