by Jason Hidalgo, Reno Gazette-Journal, March 15, 2022
A large box slowly made its way through the top floor of an Atlantis Casino Resort Spa tower in Reno, its dull cardboard frame a stark contrast to the corridor’s fancy wood accents and glistening Italian porcelain floors.
Next to the box, two men pause to catch their breath.
“More furniture, huh?” a voice rings in the background.
Both men smiled and nodded before moving the box once more, its large frame eventually disappearing through a suite door.
Nearly a year ago, parent company Monarch Resorts embarked on a multimillion-dollar upgrade and redesign of the Atlantis’ tallest building, the 27-floor Concierge Tower. Today, the hotel-casino is putting the finishing touches on the tower’s new luxury suites as it ups the ante for its premium guest offerings.
Right next to the Concierge Tower, work is also in full swing since January this year to completely remodel Atlantis’ first tower, which was originally built three decades ago.
For Monarch CEO John Farahi, the new projects not only represent a new Atlantis. They also represent a new Reno after a growth spurt that has seen big names such as Tesla, Panasonic and a host of other companies expanding into the area.
“This market has become much more sophisticated,” Farahi said. “You have so many companies moving here from California and all over the country so the market now demands this caliber of product.”
Monarch shifting focus back to Atlantis
About half a century ago, the Farahi family acquired the Golden Road Motor Inn.
Since then, the property has undergone several name changes while also growing with the city around it.
Thirty years ago, the property opened its first tower while adopting the Clarion brand. A second and third tower would follow, as well as a name change to Atlantis.
Monarch shifting focus back to Atlantis
About half a century ago, the Farahi family acquired the Golden Road Motor Inn.
Since then, the property has undergone several name changes while also growing with the city around it.
Thirty years ago, the property opened its first tower while adopting the Clarion brand. A second and third tower would follow, as well as a name change to Atlantis.
The suites also feature infrared saunas that change colors based on a guest’s preference. There’s also a zen room with an aromatherapy module for relaxation.
Penthouse parlors include a large amount of space for hosting big gatherings. Guests can even have an Atlantis sommelier attend a wine station for tastings.
The amenities are a reflection of Farahi’s attention to detail as well as his well-known competitive nature within the local business community. Farahi, for example, frequently touts how the Atlantis has topped TripAdvisor’s traveler rankings for Reno hotels now for several years. The property was also No. 1 in U.S. News & World Reports’ 2022 rankings for best Reno hotels. Monarch, meanwhile, ranked 39th in Forbes’ 2022 list of America’s Best Small Companies.
At the same time, Monarch can’t afford to stand still with the Atlantis.
Eldorado Resorts recently gained a huge boost in clout by acquiring global gaming giant Caesars Entertainment and has invested millions in remodeling its Reno properties.
The Sands Regency is also in the midst of a major remodel at a cost of $100,000 per room as owner Jacobs Entertainment eyes downtown’s west Fourth Street corridor for its ambitious Reno Neon Line entertainment district project.
The construction of a new Kimpton boutique hotel in downtown Reno means even more competition for rooms as well.
In response, Farahi expressed confidence in the Atlantis and claimed that the redesigned rooms will stack up against any property in the market.
“I don’t want to talk specifically about any one property (we compete against) but all I can tell you is that this market has not seen suites like these before,” Farahi said. “It’s a different level for this market.”
Pandemic remains a wild card for gaming and leisure market
Farahi also expressed bullishness about the Reno market, citing record-breaking numbers for Washoe County room tax revenue in 2021.
The Monarch CEO also cited COVID fatigue among people itching to travel as well as the high savings rate from the pandemic.
“Demand has been very strong and we think the numbers are going to be sustainable because people have been cooped up and not able to travel,” Farahi said. “People have funds and they want to get going so I think, for the rest of the year and foreseeable future, demand is going to be very strong.”
At the same time, Farahi also expressed concern when asked whether COVID-19 remains a wild card for the gaming and travel industry.
“Absolutely,” Farahi said. “That’s out of our control so that’s the part that’s uncertain for us.”
Farahi, however, believes that the country should be better prepared if another variant comes out.
Given how the last extremely serious pandemic occurred a century ago, it’s understandable that the world was not exactly prepared for COVID. Farahi still shakes his head when remembering the mandatory closures that hit Nevada’s gaming industry in 2020.
“Imagine how we were closed for three months,” Farahi said. “I would have never in my wildest dreams foreseen something like that happening in my lifetime.”
In the meantime, the Atlantis redesign continues. The Concierge Tower luxury suites already had a soft opening on Thanksgiving. The upgrade of the first tower and its 160 rooms, which includes gutting them all the way down to the wall, should be finished by May or June.
The second tower, which is typically grouped with the first tower as the Atlantis Tower, will also be remodeled starting next year. Once finished, all 818 rooms at the Atlantis will have been upgraded. The Atlantis will also revamp other parts of the property such as the Sky Bridge.
Asked if there’s enough demand in Reno, particularly for the Concierge Tower’s luxury suites, Farahi responded that he had no doubt there is.
“This market’s economy is much more diversified and many companies are moving their headquarters or regional headquarters here,” Farahi said. “Incomes are also rising in the Reno area.”
“Demand is going to be very strong,” Farahi added.
Jason Hidalgo covers business and technology for the Reno Gazette Journal, and also reviews the latest video games. Follow him on Twitter @jasonhidalgo.