Hotel and hospitality giant Hilton has announced plans to develop a high-end casino-resort in the Sierra Nevadas, to be named Waldorf Astoria Lake Tahoe.
The development, which will feature a hotel, casino and luxury real estate units, will sit on the 15-acre plot that was previously home to the Tahoe Biltmore, which was demolished in April.
Kevin Jacobs, Hilton’s CFO and president of global development, said in a statement that “Lake Tahoe is a highly sought-after and year-round alpine destination making it an ideal location to provide guests, residents, outdoor enthusiasts and locals a haven to explore outdoor activities complemented by our brand’s luxurious amenities.”
With regards to design, the property will draw inspiration from New York City’s famed Waldorf Astoria location, and will feature a Peacock Alley lounge, just like the one in NYC. Lake Tahoe’s version will also include high-end retail shopping and a slew of dining options.
Per Hilton, Waldorf Astoria will offer a total of 76 hotel rooms and another 61 company-branded residencies.
“We will offer a wide variety of choices, from gourmet meals paired with world-class wines to curated shops that tantalize the senses,” Ebbie K. Nakhjavani, CEO of developer EKN Development Group, said in a statement.
According to EKN, the property will utilize all that Lake Tahoe has to offer, including lakefront beach access and transportation to nearby hiking and biking trails, golf courses and of course, ski resorts.
Despite its popularity, the Lake Tahoe region is very difficult to build on, due to extremely stringent environmental and sustainability requirements. In order to secure the requisite permits, EKN has agreed to undertake lake restoration initiatives as well as a 38 percent reduction in energy and water consumption.
EKN, which is based in Newport Beach, California, first purchased the Tahoe Biltmore back in September of last year for just under $57 million.
