The operator of a “cannabis-friendly” hotel in Phoenix has acquired a boutique property near the Strip.
Pro Hospitality Group owner Alex Rizk purchased the 64-room Artisan hotel at Sahara Avenue and Interstate 15 for $11.9 million.
The sale, by The Siegel Group founder Stephen Siegel, closed this month, property records show.
Rizk recently told the Review-Journal that he is planning a nearly $3 million renovation of the Artisan, 1501 W. Sahara Ave. He hopes to start the overhaul in the next 60 days and finish by September. He also said he hopes to make the hotel “cannabis friendly,” pending finalization of laws and regulations in Nevada.
