Rod Stewart is the latest A-list musical artist to confirm a Las Vegas residency this year. The British singer-songwriter has inked a two-year deal to perform at The Colosseum at Caesars Palace.

The first 18 dates have been confirmed for “Rod Stewart: The Hits,” which will trace the performer’s five-decade career. The AEG Live-produced show will run August 24 through September 11 and then return for a late-year stint November 3-20.

Public onsales for these initial residency dates begin May 15. Ticket prices begin at just $49 and run up to $250, with intermediate price levels of $69, $99 and $165, based on The Colosseum’s listings.

Stewart will alternate his time on the Colosseum stage with Las Vegas veterans Céline Dion and Elton John, who both have three-year residencies at the venue. Dion began her new residency in March, while John just confirmed his “Million Dollar Piano” residency in April.

Dion’s residency continues with a solid block of dates from June through August, while John’s show begins with a stint in late September and October.

Though the upcoming show marks his first real Vegas residency, Stewart is no stranger to performing in Sin City. The bluesy rock crooner performed eight sold-out concerts at The Colosseum in November 2010, according to his press release.

Even before the residency announcement, 2011 has been a banner year for the 66-year-old singer. In early spring, Stewart launched the critically acclaimed and commercially successful Heart and Soul Tour with Stevie Nicks.

Together, the iconic vocalists enjoyed several weeks in the Top 5 of TicketNews’ exclusive concert event rankings. Stewart and Nicks also currently hold the title of the second highest grossing tour of the year, according to Billboard Boxscore’s count.

“Rod Stewart: The Hits” – Las Vegas 2011 itinerary:
(Dates are subject to change.)

August 24, 27-28, 31
September 3-4, 7, 10-11
November 3, 5-6, 9, 12-13, 16, 19-20