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Las Vegas locale to reopen in 2013
The Siegel Group Nevada Inc. has acquired the former Atrium Suites Hotel in Las Vegas for $4.2 million. Siegel said it will either turn the now-vacant property into a new boutique concept that would complement its other holdings in that sector (Rumor, The Artisan, The Resort on Mt. Charleston and the Gold Spike Hotel & Casino), or operate it under a national hotel flag.
The six-story, 202 key all-suite hotel sits on a 3.75-acre site on Paradise Road that’s adjacent to the Hard Rock Hotel & Casino. Stephen Siegel, founder and ceo The Siegel Group called the acquisition “a phenomenal opportunity for our organization … While the last few years have been extremely challenging for us all, we as a company continue to tough it out and stay focused, aiding the market’s recovery by acquiring distressed and non-operational properties that we are able to reposition and stabilize.”
The Las Vegas Review-Journal reports that Siegel plans to reopen the hotel in 12 to 14 months.
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