Park Place plans $60 million renovation at famous resort

LAS VEGAS - Caesars Palace, known as the most extravagant resort in Las Vegas when it opened in 1966, will be undergoing a $60 million renovation during 2000.

''By the first of the year, the exterior will all be different,'' said Caesars Palace President and Chief Operating Officer Dean Harrold. ''It'll show everybody that drives by that there's something new here. Park Place is making a statement, and it'll look fantastic.''

The company has budgeted $60 million in capital expenditures for renovations to Caesars, said Geoff Davis, spokesman for Park Place, which acquired Caesars Palace parent Caesars World from Starwood Hotels & Resorts for $3 billion.

Harrold said the resort is spending $20 million on the facade alone. Caesars believes the original building and the two-year-old Palace Tower should present a cohesive look so the distinctive screen that covers the exterior will be removed and a Romanesque design will take its place. Exactly what the resurfacing will look like, however, is still on the drawing boards.

Caesars is also upgrading many of its suites in the Palace, Roman and Centurion towers, with more than 600 rooms and suites slated for renovation. The remodeling of the rooms is being timed to go with the exterior changes.

''That way we minimize any inconvenience to our guests,'' said Debbie Munch, a Caesars Palace spokeswoman.

Also being planned is a 10- to 12-villa suite complex for high-end customers. The villas will be finished by May 2001 and will have their own entrances and own pools.

The Forum Shops at Caesars will begin construction on a new phase in the fourth quarter of 2000. The upscale mall opened in 1992 with 240,000 square feet of leasable space. The size doubled to 500,000 square feet in 1997 and the new addition will add another 240,000 square feet.