MGM Grand is going through a massive overhaul, closing down their iconic Lion Habitat, and now, closing down Studio 54. Since the announcement of the closure of Studio 54, Las Vegas’ Hakkasan Ltd. and Angel Management Group have announced their plans for the replacement of Studio 54, which will be a new night club, as well as restaurant.

Known as a big name in the international dining industry, Hakkasan Ltd., will enter Las Vegas at the MGM Grand. Hakkasan Ltd. had great plans for Las Vegas at Fontainebleau Las Vegas before they fell through, but now they’ll finally be able to accomplish setting something up in Las Vegas.

Angel Management Group of Las Vegas and Hakkasan Ltd., have been collaborating on the concept for the MGM Grand, which includes a Michelin-starred luxury dining brand, as well as a luxurious and lavish nightclub.

Both companies shared in an announcement about the changes being made “The transformation will expand the size of the former (Studio 54) venue, creating an indoor/outdoor space with unparalleled views of the famed Las Vegas Strip.”

This will also be the first location that Hakkasan Ltd. has ever incorporated a lavish nightclub.

The new nightclub and restaurant is scheduled to open in December.

The end of January marks the end of the first month of 2012, and also the end of MGM Grand’s Lion Habitat. The lion habitat, which is considered to be an icon of MGM Grand is permanently closing its doors on January 31^st. The lion habitat opened in 1999, and has been a free attraction since then.

No word has been released from MGM officials on what will replace the lion habitat area, which is a 5,000-square-foot, glass-encased structure, worth a cool $9 million.

MGM Resorts began a huge remodel of the MGM Grand back in October 2011, with a budget of $160 million. It is expected that the tremendous undertaking will take about a year, so the pricey remodel should be completed just in time for October 2012. It seems like the MGM Grand is going to be going through a massive overhaul of a remodel, with each of the main tower’s 3,570 hotel rooms, as well as the 643 suites getting a makeover.

It won’t just be the rooms and suites getting a makeover though, as the rest of the property will also be remodelled, from the casino floor, to the restaurants, to the clubs, and even the showrooms.

MGM Resorts spokeswoman, Yvette Monet commented on the massive remodel of the MGM Grand, saying “That is part of an overall property-wide renovation project. There are going to be significant changes in the casino and hotel.”

Hopefully these changes are for the good. In the last couple of years, many hotels and casinos have undergone remodels to breathe new life back into the properties. The latest resort to finish a remodel was the Bellagio.