Acquisitions & Hotel Openings

The Siegel Group Acquires the Artisan Hotel in Foreclosure, Las Vegas, Nevada

LAS VEGAS, NV - January 18, 2010 - Garrett Capital LLC, an affiliate of The Siegel Group Nevada, Inc., a Commercial Real Estate & Business Development Company, today announced that it had foreclosed upon the Artisan Hotel; a 64 key boutique hotel situated on 1.35 acres after having recently acquired a promissory note secured by a First Deed of Trust from a mid-Western lender. Prior to the foreclosure, the property had been placed in bankruptcy by the former owners whose many problems with City, County, and Federal authorities had been widely reported on throughout local media channels. The Siegel Group has assumed operational control of the property which it will continue to operate utilizing the Artisan name and is committed to repositioning the property; quickly identifying and correcting long-standing operational issues that have recently negatively impacted the hotel’s reputation. The first order of business will be rebuild and maintain the loyal following the hotel has developed over the years and focus on implementing the superior customer service that is the touchstone of successful boutique hotels. The Siegel Group will be focusing much of its attention on correcting deferred maintenance issues and modernizing aspects of the hotel while expanding the amenities and services provided.

Located on West Sahara Avenue just minutes from the Las Vegas Strip, The Artisan Hotel is one of the few true boutique hotels in the Las Vegas market and has developed a following among locals and boutique enthusiasts due to its eclectic design and hip, intimate atmosphere. The hotel which had received rave reviews over the years contains a popular bar-lounge, restaurant, wedding chapel and secluded pool and cabana area that provide an ideal venue for events and private parties which will be aggressively promoted and expanded under the new ownership. The Siegel Group will be looking to immediately hire qualified employees to help reposition the property and is one of the few local companies that has been consistently creating jobs during these challenging economic times as it continues to expand its portfolio.

Stephen Siegel, Founder and President of The Siegel Group states: “The Artisan is an extremely cool property and will compliment our existing boutique hotel collection currently comprised of the St Tropez Hotel scheduled to open April 2010 and located directly across from the Hard Rock Hotel & Casino and The Resort on Mount Charleston. While many big-box providers in the Las Vegas market are trying to spin themselves as boutique hotels, our collection is representative of the true boutique hotels found throughout Los Angeles, New York and Miami which focus on providing exceptional style and service on an intimate scale. I look forward to expanding the visibility of the property and re-introducing this hidden treasure and showing people the incredible potential this property possesses.”

About The Siegel Group Nevada, Inc.
The Siegel Group, a Commercial Real Estate Investment & Business Development Company founded by Stephen Siegel with offices located in Las Vegas, Nevada and Studio City, California, specializes in the acquisition, disposition and development of under-performing, valued added real estate and businesses with significant turn-around potential. The company’s extensive expertise in the areas of operations, management, finance, marketing, branding, leasing, renovation, design, entitlements, construction, and redevelopment enable The Siegel Group to elicit an operational turnaround on the assets it acquires which include a variety of businesses and a commercial real estate portfolio comprised of multi-residential apartment complexes, extended-stay, boutique resorts, hotel-casinos, retail and office. The Siegel Group is actively seeking new investments and joint-venture opportunities with upside potential. For more information on The Siegel Group and its affiliates, visit the Company´s website at www.siegelcompanies.com.


To obtain further information regarding this release, please contact:
Michael Crandall
email: mcrandall@siegelcompanies.com
Phnre: (310) 597-9221.

Coming Up In The June Online Hotel Business Review


Feature Focus
New Trends in Hotel Architecture and Design
On any hotel design project, architects are generally serving at least three masters - the owner/developer, the hotel operator, and the general public who will utilize the hotel - and each have their own goals, objectives and demands. The owner/developer is concerned with brand standards, the target market and the hotel's locale, while the operator is concerned about achieving the highest possible revenue through efficient design. The public is demanding that architecture and design be fully integrated into the guest experience, based on prevailing tastes and preferences. The architect's role is to respond professionally and efficiently to meet the demands of all and to develop a unified solution. Though each project has its own prerequisites and obligations, there are some general design trends which seem to be prevalent across the industry. First, there is an increased emphasis on the importance of the lobby. The principle here is that first impressions matter and that a hotel has only a few minutes to convince a guest that they have made the right decision. Hotel lobbies are being completely re-imagined - from eliminating front desks altogether to turning lobbies into warm, intimate social spaces, replete with fireplaces and comfortable furniture. There is also an increasing use of ambient natural light, even in large spaces like ballrooms and meeting rooms. In addition, there is greater emphasis on incorporating the distinctive attributes of any given location into the hotel design, which guests are defining as central to their experiences. The June issue of the Hotel Business Review will report on all these exciting developments in the fields of architecture and design.
In this issue...
Experiential Design Across All Sectors
By Ellis Katz, Principal, John Portman & Associates
Challenges of Contemporary Design in Historic Buildings
By Gary Meadows, President, HCI Architecture, Inc.
Ideal Meeting Spaces Should Offer Flexibility, Flexibility and Then Some
By Ronald M. Lustig, Design Architect/Principal, Earl Swensson Associates, Inc.
The Hotel Lobby
By Jennifer Skaife, Senior Associate, DiLeonardo
PLUS: Keeping an Eye on the Return on Design; Check In To the Future; L'AND Vineyards Wine Resort; How to Preserve Architectural Detail; Catering to Women in Hotel Design; Sustainability Retrofits, and much more.