Coming off the heels of the recently sold Tropicana next door, Hooters Casino Hotel seems to have taken a cue, and sold for .8 million. Resort investment company Trinity Hotel Investments of New York made the purchase, their first in Las Vegas. Trinity has owned and invested in properties in the United States, Europe, and Asia, to the tune of some .7 billion in deals.
The gaming operations of Hooters was being handled by the Navegante Group, which also operated the LVH and later Westgate Las Vegas. (Navegante will also be leaving Westgate, as it was just announced that Paragon Gaming would be brought in as a gaming operator. Paragon most recently was managing the now shuttered Riviera casino). Trinity is expected to change the Hooters name, and has entered into partnerships with companies such as Crown Plaza, DoubleTree By Hilton and Holiday Inn. It is currently speculated Holiday Inn will take over, but under a different name.
While it originally opened in the 1970s, the property has had several names and ownerships. Previously, it was known as the Paradise Hotel, Treasury, Polynesian and Hotel San Remo. It has been known as Hooters Hotel since 2006 when a group of partners associated with the Hooters chain bought it and gave it a renovation, all to the tune of $190 million.
In August 2011, Hooters’ then-owners filed bankruptcy mere days before the property was scheduled to be auctioned off. The owners have also reported $63 million in assets to $178 million in liabilities. No changes to the hotel’s amenities have been announced.
A new Hooter’s Restaurant just opened a few weeks ago at the Palms Casino just down the road from the hotel of the same name.
