How sure are you it will be a 550 room hotel? What price point?
The hotel plans were drawn up years ago. And at that point it was a 550 room art deco style hotel based on old Hollywood. I have heard that they are now ready to move ahead with the hotel. But I am just assuming that they are going to use the plans from earlier.
It is to be their lowest price hotel. And will be considered a "value" resort.
Here is the concept art (released by Universal).