Maxim Hotel Brokerage is pleased to announce the sale of two Las Vegas area hotels, the Hampton Inn & Suites Las Vegas-Red Rock/Summerlin and River Palms Casino in Laughlin, NV.  Below are details for each transaction:

HAMPTON INN & SUITES LAS VEGAS-RED ROCK/SUMMERLIN
  • Buyer: Pacifica Companies
  • Seller: Sage Hospitality
  • Property: 106 rooms and suites
  • Built in 2007
  • Institutional quality select-service hotel
  • Fee simple
Pacifica purchased this hotel in late June, 2014.  The property had previously been included as part of an 11-hotel portfolio acquisition by Sage Hospitality.  Pacifica will complete the Hampton PIP and benefit from an improving Las Vegas market.

RIVER PALMS CASINO - LAUGHLIN, NV
  • Buyer: Laughlin Hotel, LLC and Nevada Restaurant Services, Inc
  • Seller: Tropicana Entertainment Inc. subsidiary companies Columbia Properties Laughlin, LLC ("CP Laughlin") and CP Laughlin Realty, LLC
  • Property: 1000 rooms
  • Non-restricted casino
  • 34 acres of land, fee simple
  • Excellent repositioning, value-add opportunity
The buyer has the largest number of non-restricted gaming licenses in the state of Nevada. "Nevada Restaurant Services is excited about the opportunity to operate the River Palms in the Laughlin market and looks forward to re-opening the facility quickly after a temporary closure while renovations and improvements are made to the property," saidCraig Estey, President of Nevada Restaurant Services.

Maxim Hotel Brokerage also recently closed on the sale of two non-restricted casinos in Las Vegas, Ft Cheyenne Casino and Event Center and Sahara Saloon Casino.  The recent sales mark a significant milestone for Maxim Hotel Brokerage, totaling 50 completed transactions in the state of Nevada.

Please contact us to further discuss your needs, whether buying or selling.