Resort – Las Vegas, NV and Hooters Joint Venture
|NEWPORT BEACH, CA: September 2004 – Maxim Hotel Brokerage, Inc.
representing The Owner of the San Remo and BCL Hospitality Advisors, LLC
representing Hooters Management Corporation and LTP Management has structured
a joint venture of the 711-room Hotel San Remo Casino and Resort located
in Las Vegas, Nevada and Hooters the well known national restaurant brand.
Jack Carr of Maxim Hotel Brokerage in conjunction with Richard Bosworth
of BCL Hospitality Advisors completed the transaction.
The San Remo is a 711 room casino hotel with a 26,000 square foot casino and is located across the street from the 5,000 room MGM Grand Hotel and Casino.
Eastern and Western Hotel Corporation and Hooters Gaming Corp have combined to form a joint venture arrangement and will renovate and reposition the property as the world’s first Hooters Hotel & Casino. With a total project cost estimated at $120 million, the renovated property will include the worlds largest Hooters restaurant, a Dan Marino’s Fine Food & Spirits restaurant and Martini Bar, Pete & Shorty’s Tavern and Book, and a much expanded pool area with a Hooter’s Beach Club and tropical theme. The hotel plans a late 2005 “grand opening” and will remain open during the transformation.
About Maxim Hotel Brokerage, Inc – Newport Beach-based Maxim Hotel Brokerage is a real estate brokerage firm dedicated exclusively to the hospitality industry with an emphasis in the Western Regional US hotel market and Las Vegas gaming market. The Newport Beach-based firm was founded in 2002 by Harry Pflueger and Jack Carr, former Senior Managing Directors of Insignia Hotel Partners. The boutique brokerage firm is expanding on their 30 years of hospitality experience, their track record of $500,000,000 in successful hotel sales and their reputation as experienced and creative dealmakers.
BCL Hospitality Advisors, LLC is a subsidiary of Bond Companies the Santa Monica Commercial Real Estate Development Company. BCL Hospitality is a specialist in structuring mergers, acquisitions, joint ventures, and the procurement and structuring of debt and equity for the Hotel, Gaming and Restaurant Industry.
BCL Hospitality Advisors, LLC
|Also See:||Maxim Hotel Brokerage, Inc. Arranges the Sale of the 128-room Hampton Inn – Las Vegas (Summerlin), NV / July 2004|
|Maxim Hotel Brokerage, Inc. Completes Three Deals in the 3rd Quarter / September 2003|