A long-standing off-Las Vegas Strip hotel-casino will be transformed from a property geared toward NASCAR-loving middle America, complete with waitresses in skimpy skintight outfits serving plates of chicken wings, into a boutique luxury resort by a company known for its innovative, chic offerings.
OYO Hotels & Homes, India’s largest lodging company, said Friday it would convert the Hooters Casino Las Vegas into the Oyo Hotel & Casino Las Vegas.
In a statement, Oyo said that New York-based management company Highgate would manage the 657-room hotel, while Las Vegas-based casino management firm Paragon Gaming would continue to manage the 35,000-square-foot casino.
“We’ve had great success managing the Hooters casino and look forward to continuing on as the casino manager and to partnering with Highgate to introduce Oyo’s hotel brand in Las Vegas,” Paragon Gaming Chairwoman Diana Bennett said in a statement.
According to the Wall Street Journal, Oyo and Highgate paid $135 million in June to acquire the Hooters property from Junius Real Estate Partners and Trinity Hotel Investors LLC. Hooters is located on Tropicana Boulevard, next to the Tropicana Hotel and Casino and across from the MGM Grand Las Vegas.
In a statement, Oyo Chief Operating Officer Abhinav Sinha said the company sees value in the property’s location a short distance from the Las Vegas Strip and nearby developments, including the $1.9 billion Allegiant Stadium, which will open in 2020 as the home of the relocated Oakland Raiders.
“We are excited to be here. We believe Las Vegas is an exciting city in which to invest as the market continues to evolve,” Sinha said. “As we continue to focus on bringing to life our popular concept of ‘comfort design’ and delivering chic hospitality experiences, we are increasingly exploring new ways to connect with our customers, from millennials to young executives and families, in every city we enter.”
In Friday’s statement, a price wasn’t given for the transformation, but the Wall Street Journal said the renovations would cost $20 million. The property will remain open during the renovation.
In June, Oyo CEO Ritesh Agarwel said the company planned to invest $300 million into the U.S. lodging market.
“With our newest hotel in Las Vegas, we are excited to cater to a completely different audience segment and are certain that this will be the perfect start to Oyo’s journey in Las Vegas,” Agarwel said in a statement.
Six-year-old Oyo said it was the world’s third largest hotel chain, controlling more than 1 million rooms in 23,000 hotels worldwide through franchising and partnerships. The company has raised more than $1.5 billion since its founding.
The Las Vegas Hooters property has two signature restaurants, four bars, a fitness center, and an outdoor pool.
“We will be undergoing a renovation and will come up with some… amenities and experiences that are sure to please Las Vegas visitors from around the world,” Sinha said in a statement. “We can’t wait to welcome you to our first hotel in Las Vegas.”
The Hooters hotel-casino has had a checkered history of ownership changes and themes since its construction in the mid-1970s. The location has previously been known as the Howard Johnson Hotel, Paradise, Treasury, Pacifica, Polynesian and Hotel San Remo.
The resort has been branded as Hooters since 2006, themed on the Florida-based restaurant brand known for its Hooters Girls waitresses and budget conscious menu, including its signature chicken wings. The first Hooters casino included a Dan Marino’s Fine Food and Spirits, a restaurant named after the Miami Dolphins’ Hall of Fame quarterback. The restaurant has since closed.
Oyo has 112 hotels in U.S. and expects to have nearly 150 hotels by the end of August.
The company said the transformation to Oyo Las Vegas would be completed this year.
Howard Stutz is the executive editor of CDC Gaming. He can be reached at hstutz@cdcgamingreports.com. Follow @howardstutz on Twitter.
