Hooters Casino Hotel Near Las Vegas Strip Sells for $70 Million
The Hooters Casino Hotel off Tropicana Avenue near the Las Vegas Strip has been sold for $70 million to Trinity Hotel Investors LLC, a New York-based investment company.
The property first opened in 1973 as the Hotel San Remo, and was purchased in 2006 by four original founders of the Hooters restaurant chain. The hotel has 636 rooms and a 35,000-square-foot casino.
Since 2012, the space has been owned by Canyon Capital Advisors, when the bankrupt property was purchased for $60 million.
It’s unclear what Trinity will do with the space, but the Hooters restaurant inside “will certainly be part of whatever they do,” Mark Whittle, senior vice president of global development for Hooters of America, told The Associated Press. It is likely that the hotel will continue to be home to Hooters, as it is the chain’s most profitable location in the United States, according to the Las Vegas Sun.
Next door, the Tropicana Las Vegas was recently sold for $360 million to Penn National Gaming.