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

To obtain further information regarding this release, please contact:
Michael Crandall
email: [email protected]
Phnre: (310) 597-9221.

Coming Up In The November Online Hotel Business Review

Feature Focus
Hotel Architecture and Design: Unique, Timeless and Memorable Design
With hotel refurbishments typically taking place every eight to ten years for the soft elements, and every fifteen to twenty years for public spaces and bathrooms, owners and investors rely on architects and designers to get things right. Their solutions must satisfy a targeted demographic, be aesthetically timeless and durable, and fulfill the market’s desire for unique and memorable design. From re-thinking guestroom configurations to constructing dramatic public spaces, an effort is being made to recast hotels as the highlight of any business trip or vacation. In that regard, many architects have chosen to make a striking first impression, with an emphasis on the hotel lobby. These areas are being designed as multi-use spaces to accommodate casual or formal talks, individual or group work, and zones for social activity. Creative space segmentation is required, along with furniture that provides comfort and functionality. More extravagant entrance features also include indoor waterfalls, large chandeliers and multi-media stations. The bathroom is also an area of interest for designers in recognition of guest desires to experience luxury beyond their everyday lives. Spa-like features such as en-suite bedrooms, waterfall showers, over-sized bathtubs, his & hers sinks, giant towels, plush robes, and deluxe beauty items provide the promise of indulgent luxury. Additionally, hotel restaurants can no longer afford to be mere providers of three meals a day and a buffet. Signature restaurants are being designed to offer a genuine "wow" factor to both guests and external patrons alike. Along with sustainability concerns and an increased emphasis on local sourcing, these are some of the subjects in the fields of hotel architecture and design that will be explored in the June issue of the Hotel Business Review.