News

Hooters Casino Hotel sold for $70 million to New York-based hotel investment firm

LAS VEGAS, Nev. – A real estate broker representing the owners of the Hooters Casino Hotel says the near-Strip property has sold for about $70 million to a New York-based hotel investment company.

Michael Parks with CBRE Group in Las Vegas confirmed Monday the casino-hotel off Tropicana Avenue was sold May 1 to Trinity Hotel Investors LLC.

Parks says he represented the seller, Canyon Capital Advisors.

Parks says the purchase price for the nearly 700-room hotel includes the $53.8 million paid for real estate in addition to the personal property attached to it including furniture and fixtures inside.

It isn’t clear what Trinity Hotel Investors plans to do with the property. A call Monday to the firm’s chief investment officer was not returned.

Canyon Capital Advisors has owned the casino-hotel since 2012.