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 January Online Hotel Business Review


Feature Focus
Mobile Technology: The Game Has Changed Forever
Consider these astounding numbers - it is forecast that in 2016 there will be 196 million smart phone users in North America alone. Worldwide the number of users is expected to surpass 2 Billion. According to hotel internet marketing firm HeBs Digital, currently more than 21% of online bookings and nearly 19% of room nights are generated from mobile devices (smart phones and tablets), while 45% of web visitors and nearly 40% of page views originate from them as well. Consumers are also increasingly using their smart phones for search queries, with more Google searches taking place on mobile devices than on computers in 10 countries, including the U.S. and Japan. Advances in mobile technology have changed the game forever and for hotels, that means having a mobile strategy is now as critical and necessary as having an Internet presence. Hotels must engage guests/travelers on their mobile devices and to add value to their experience. Mobile check-in, mobile payment options and mobile SmartKeys are quickly becoming commonplace features, as is the capacity for guests to place requests for all hotel services directly from their mobile device from anywhere on the property. In addition, some larger chains are creating their own apps which serve to enhance other facets of their operations - marketing, branding, cross-selling and impulse buying - all of which contribute to increased revenue and guest satisfaction. Still other companies are experimenting with the potential uses of wearable technology and the possibilities of geo-targeting promotions. The January Hotel Business Review will explore what some hotels are doing to maximize their opportunities in this mobile space, and will report on the solutions that are proving to be most beneficial for both companies and their guests.