This is what we found on Wikipedia regarding the Hybrid Pool & Beach Party at The Art Hotel & Resort:

The Strat (formerly the Stratosphere) is a hotel and casino in Las Vegas, Nevada, United States. It includes a 1,149-foot-tall (350 m) observation tower, the tallest in the United States. It is also the second-tallest observation tower in the Western Hemisphere, surpassed only by the CN Tower in Toronto, Ontario. The top of the tower includes a revolving restaurant, lounges, observation decks, and several thrill rides. The hotel and casino are at the base of the tower, and the resort also includes a showroom and a shopping mall. The Strat is within city limits on Las Vegas Boulevard, just north of the Las Vegas Strip. The resort is sometimes considered a Strip property, but Clark County does not officially recognize it as such, saying the Strip does not extend into the city.

Part of the property was previously occupied by Vegas World, a hotel and casino Bob Stupak opened in 1979. A decade after its opening, Stupak announced plans for a giant neon sign for Vegas World, to be built on adjacent property. The idea soon evolved into an observation tower with a rooftop restaurant. Construction of the Stratosphere Tower began in 1992. A fire of unknown origin occurred on the tower in August 1993, during construction. Stupak then had difficulty acquiring funds to finish the tower. To complete the project, he partnered with Grand Casinos, owned by his poker friend Lyle Berman.

The tower was originally proposed with a height of 1,012 ft (308 m). But in 1994, Stupak considered extending the height to 1,825 ft (556 m), seeking the title of tallest free-standing structure in the world. The Federal Aviation Administration opposed the new height, and the city ultimately rejected it, but allowed Stupak to go as high as 1,149 ft (350 m). Vegas World closed on February 1, 1995, and its hotel towers were remodeled to serve as the hotel for the Stratosphere. New hotel towers were built to accompany the existing buildings. The observation tower, which cost $70 million to build, was topped off on November 4, 1995.

The $550 million Stratosphere complex opened on April 30, 1996. Parts of the resort were unfinished at the time, including a hotel tower and sections of the shopping mall. The Stratosphere was built in a crime-ridden neighborhood known as Naked City. The resort struggled financially during its first year for a number of reasons, including its location away from the Strip and other resorts. Marketing was also limited, as Berman initially believed the tower had generated enough publicity on its own. The unfinished facilities were another factor in the resort's low revenue.

Stratosphere Corporation filed for Chapter 11 bankruptcy in 1997, and businessman Carl Icahn purchased the resort in 1998. Icahn had the remaining hotel rooms finished in 2001 as part of a $65 million renovation project. The resort became profitable under his ownership by targeting value-conscious visitors. In 2004, ownership was transferred to Icahn's company, American Casino & Entertainment Properties (ACEP). Whitehall Street Real Estate Funds purchased ACEP and the Stratosphere in 2008. Two years later, ACEP carried out a $20 million renovation that included remodeling the hotel rooms. Other renovations continued into 2012. Golden Entertainment purchased ACEP and the Stratosphere in 2017, and additional renovations began in 2018, continuing into 2020. The resort was rebranded as The Strat on January 22, 2020.