It’s no shock that the SLS Las Vegas is a struggling property with a less than optimal location off the strip. Rates and occupancy of the 1600 room resort continue to drop causing SLS Las Vegas Drops to Category 4 SPG Property last year.
Anyways, the latest is the owner of the Grand Sierra Resort in Reno, Alex Meruelo, will be taking over the SLS property the end of the month.
Per the Las Vegas Review Journal,
Alex Meruelo will invest up to $100 million to revitalize the SLS Las Vegas after the Nevada Gaming Commission approved his acquisition Thursday of the struggling Strip property.
The Reno-based businessman will spend the money in the coming years to upgrade rooms, redesign the pool, brighten the casino floor and refresh the slot machine offerings, said spokesman Christopher Abraham.
Since Meruelo agreed to purchase the property in May, there’s been speculation that he may change the hotel’s name back to the famed Sahara. The SLS brand is owned by Sam Nazarian’s sbe Entertainment. Abraham said Meruelo will study SLS brand recognition before deciding on a name change.
“We will be using the SLS name for another year and will evaluate our options with the brand moving forward,” he said.
With the new ownership, they’ll be replacing the General Manager and looking to hire a new management team. When it comes to the SLS brand, I’d be shocked if the property stays under SLS, as they’re looking to potentially re-brand it back as the Sahara, which is what the property used to be years ago.
Have you stayed at the SLS Las Vegas before? Feel free to share your experiences below.