Search
 

Lake Las Vegas Hyatt Changing Hands

HENDERSON, NV-The 493-room hotel within the 2,200-acre resort here is being acquired by a joint venture that includes New York City-based Loews Hotels as the minority partner and operator.

By Brian K. Miller | Updated on November 13, 2006

HENDERSON, NV-The 493-room Hyatt Regency Lake Las Vegas Resort is changing hands. Privately held Loews Hotels of New York City said Monday it will operate the hotel here and have a 25% equity stake in the new ownership group, but did not reveal the price or its partner, a “single investor” that will hold the remaining 75% stake.

The seller is a joint venture among affiliates of Cook Inlet Region Inc. of Anchorage; Hyatt Corp. of Chicago; Transcontinental Corp. of Santa Barbara, CA; and Woodbine Development Corp. of Dallas. The sale is expected to close in early December.

Hyatt Regency Lake Las Vegas Resort represents Loews Hotels’ first property in Nevada. The company had previously announced plans to build within the Lake Las Vegas community, but this more immediate entry replaces those plans, a company source tells GlobeSt.com.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.