While Las Vegas has seen storied hotels close or lose their branding over the last few years, one developer is bucking the trend and plans to renovate a defunct property into a boutique hotel. The Siegel Group, owner of four boutique hotels in Las Vegas, acquired a former Crowne Plaza hotel with the intention of reflagging it under a major brand for a new opening in 2013.
The Siegel Group owns four other Las Vegas hotels including the Rumor Hotel, which is best known for renting out the entire property to one guest. The new acquisition of the former Atrium Suites Las Vegas, located next to The Hard Rock Hotel, will offer the ownership group an opportunity to open a property with meeting and convention space. “The location is key for sure, being on Paradise Road,” said Steve Siegel, president and CEO of The Siegel Group. “There’s only so many hotel on Paradise, and the bones of the property are appealing with a lot of common area space for meeting and convention areas, which would help out some of our other hotels.”
In terms of branding the hotel, Siegel will look for a partner offering a strong reservation system. “We’re talking to several brands, including Starwood, Hilton and some other type of brands to see what will work there,” said Siegel. “It may open as another boutique hotel to add to our collection; we’re not going to give up management but if we can get a good reservation system, that helps us funnel during the week.”