Westgate announces acquisition of LVH

This morning Westgate Resorts officially announced the acquisition of the LVH – Las Vegas Hotel & Casino as the newest addition to its portfolio of 28 resorts. The property, located just one block off the world-famous Las Vegas Strip, was formerly known as the Las Vegas Hilton and will be renamed Westgate Las Vegas Resort & Casino.
The LVH, a landmark property, was at one time the largest hotel in the world and home to such legendary greats as Elvis Presley and Liberace during Vegas’s golden age. It is adjacent to the Las Vegas Convention Center, and is one of seven stations on the Las Vegas Monorail.
David Siegel, founder and CEO of Westgate Resorts, proudly announced, “Westgate Las Vegas Resort & Casino will set the standard for service in Las Vegas…We are very excited to be taking this important part of Vegas history and reinventing it for the next generation of Las Vegas visitors.”
The resort is 30 stories tall and is home to the largest freestanding sign in the world at 279 feet. With nearly 3,000 rooms, including 300 suites, Westgate will convert some of the rooms to luxury timeshare villas while still operating the resort hotel rooms and suites. There is also a 95,000 square foot casino with a wide array of table games and slot machines, 200,000 square feet of meeting and convention space, several restaurants, including the largest Benihana restaurant in the United States, entertainment, a spa and fitness center, expansive pool with cabanas, access to golf at the exclusive Las Vegas Country Club, and a race and sports book.
“Although a selection of our rooms will be converted into timeshare villas, it is important to know that our resort hotel and legendary luxury suites will remain open to Las Vegas visitors and tourists for vacations and conventions,” explained Siegel. “We will be providing the best of both worlds on our resort property.”
Financing is being provided by Western Alliance Resort Finance, a division of Western Alliance Bank.
Westgate Resorts closed on the property on June 30, 2014, and will retain Navegante Group, a well-known casino management company that has been managing the property since October 2012, to continue to operate the property.