LAS VEGAS—The Elad Group, owners of The Plaza Hotel in New York, plan to develop a Las Vegas version of landmark hotel on the site currently occupied by the New Frontier Hotel and Casino. The project—estimated to cost $5 billion—will include a luxury hotel, private residences, retail outlets, and a casino. Demolition of the existing structures on the 34-acre site is scheduled to begin next year. The new Las Vegas Plaza would open in 2011. In addition, Elad plans to bring the Plaza brand to a number of other gateway destinations worldwide, including Los Angeles, Washington, DC, London and Paris.
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