Las Vegas hotel operator MGM Mirage has announced today its decision to postpone the opening of the Harmon Hotel and Spa hotel on the Las Vegas Strip at list for one year, as well as the cancellation of The Harmon condominium component, which was planned to have a total of 200 residential units. The Harmon was originally planned to have about 200 residential units, of which 88 were already sold or are under contract to be sold. According to CityCenter, buyers and investors will get refunds for their leasing deposits, but also will be given the chance to acquire units at the Mandarin Oriental Las Vegas, Vdara and Veer Towers.

"By cancelling The Harmon condominium component, we will be able to avoid the need for substantial redesign of The Harmon resulting from contractor construction errors. In taking these steps related to The Harmon we can remain focused on maximizing the operating performance of Aria, Mandarin, and Vdara to their desired levels." said Robert Baldwin, chief executive officer of CityCenter.

The Harmon is just one component of the CityCenter complex, a 67-acre mixed-use project between Dubai World and MGM Mirage, owner and operator or several hotels on the Las Vegas Strip, including the MGM Grand, Mandalay Bay Resort and Casino, Bellagio and Mirage Hotel and Casino. When the Harmon hotel is finally completed, it will feature a total of 400 rooms and luxury suites. According to the CityCenter executives, the construction of the Harmon's structure as well as the exteriors will be completed as programmed, while the conclusion of its interior will be put on hold for at list a year, an action that will save MGM a total of $200 million. All other components of the CityCenter, including the Aria Resort and Casino, Veer Towers, Mandarin Hotel and Residences and Vdara Hotel and Condominium Tower will open as planned in December, 2009.

"The construction progress to date on this enormous project is nothing short of incredible. Over the next 11 months we will begin energizing these architecturally beautiful buildings with the hiring of more than 12,000 individuals for this dynamic resort complex. Creating this many jobs will have a tremendous impact for both Las Vegas and the State of Nevada for many years to come." added Baldwin.