Las Vegas Strip hotel to become Waldorf Astoria this summer

The Mandarin Oriental will become the Waldorf Astoria. (Gai Phanalasy/FOX5)

A subsidiary of MGM Resorts International has agreed to sell the Mandarin Oriental hotel on the Las Vegas Strip for about $214 million.

CityCenter Holdings announced the deal Thursday but did not reveal the buyer of the 392-room hotel and adjacent retail properties.

The sale is expected to close by this summer. The 47-story hotel opened in December 2009.

CityCenter still owns the Aria Resort and Casino, the Vdara Hotel and Veer Towers.

CityCenter is jointly owned by MGM Resorts and the Infinity World Development Corp.

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