Wynn Resorts will build a new hotel on property the company recently acquired on the west side of Las Vegas Boulevard, company chairman Steve Wynn said.

Wynn West will be a 2,000-3,000-room property on the 38-acre Alon site, formerly home of the New Frontier, that Wynn purchased on Dec. 13 for $336 million. Analysts believed Wynn was planning to warehouse the land for future use when market conditions were appropriate for expansion, but Wynn said in a fourth-quarter earnings conference call that he plans to undertake the project sooner rather than later.

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