Westgate Purchases Former Las Vegas Hilton Resort
Tuesday, July 1, 2014
Yesterday, Westgate confirmed rumors that they have purchased the former Las Vegas Hilton Resort. The resort, now known as the Las Vegas Hotel & Casino (LVH), will be rebranded as the Westgate Las Vegas Resort & Casino. The new Westgate sign is expected to replace the LVH sign sometime today.
Featuring 1,500 guest rooms, the LVH was the biggest resort in the world when it opened in 1969.The resort was originally built by Kirk Kerkorian to house over 800 Elvis concerts in the 1960s and 1970s. The resort also featured performances from the legendary Liberace and Barbara Streisand. More recently, the resort has been upgraded to include 2,956 guest rooms and 305 suites. The resort also features a 74,000 square foot casino and Las Vegas Monorail station.
The new Westgate resort is located close to the Las Vegas Convention Center, about a block away from the Las Vegas Strip. Westgate feels that this “quieter” location will provide an ideal resort for both the traditional Las Vegas crowd and families.
Founder and CEO of Westgate Resorts, David Siegel shared, “We will be providing the best of both worlds on our resort property. We are very excited to be taking this important part of Vegas history and reinventing it for the next generation of Las Vegas visitors.”
Westgate purchased the LVH from Goldman Sachs and Gramercy Capital. The resort’s purchase price is unknown but is speculated to be approximately $150-$170 million in value. The luxury will be a great addition to the Westgate resort directory. The group currently owns the Westgate Flamingo Bay in Las Vegas, but has been looking for a new luxury resort since they sold the PH Towers in 2011.
Learn more about Westgate Resorts.
