Siegel Group sells Las Vegas boutique hotel for $18 million

George Sell George Sell Uploaded 23 January 2017

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US: The Rumor Boutique Hotel in Las vegas has been bought by an international investment group based in China.

US: The Rumor Boutique Hotel in Las vegas has been bought by an international investment group based in China.

The Rumor brand was not included as part of the sale and will remain owned by The Siegel Group, which plans to relocate the brand  to a new location in the Las Vegas market.  The new owner will rebrand the property.

Sun Commercial Real Estate's Investment Services Group and Hospitality Division, with Cathy Jones and Josh Smith taking the lead, represented the marketing and sale of the hotel on behalf of The Siegel Group. Jones said: "The property offers a great opportunity for a buyer interested in stepping into a strategically located Las Vegas hotel property with consistently improving economics. The new internationally-based owners were selected as the winning buyer from multiple offers received."

Located directly across Harmon Avenue from the Hard Rock Hotel & Casino, the 150-key hotel is described as "atypical of the mega-resorts and nationally flagged hotels that dominate the Las Vegas market".

www.rumorvegas.com

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