Hilton luxury resort to be built on the former Tahoe Biltmore site
The Waldorf Astoria Lake Tahoe will be constructed in Lake Tahoe, Nevada.
US.- Hilton, the parent company of the Waldorf Astoria, has announced that it has signed a brand and management agreement with EKN Development Group to develop a new mixed-use luxury resort at a 15-acre site in Lake Tahoe, Nevada. The Waldorf Astoria Lake Tahoe will be built on the former Tahoe Biltmore site and will be the fourth Hilton luxury property in the state.
The location will offer an upscale casino with live entertainment options, a mix of lodging and real estate units and 76 guest rooms. EKN Development purchased the Tahoe Biltmore Lodge & Casino at Crystal Bay, in September 2021, for $56.8m and continues operating the 75-year-old hotel and casino on the Nevada side of Lake Tahoe’s North Shore.
Hilton CFO and president of global development Kevin Jacobs said: “As we continue to grow our luxury portfolio, Hilton is always looking for the right opportunities to expand our presence in popular resort destinations.”
“Lake Tahoe is a highly sought-after and year-round alpine destination making it an ideal location to provide guests, residents, outdoor enthusiasts and locals a haven to explore outdoor activities complemented by our brand’s luxurious amenities.”
EKN Development Group (EKN) CEO Ebbie K. Nakhjavani added: “We will offer a wide variety of choices, from gourmet meals paired with world-class wines to curated shops that tantalize the senses.”
Nevada reports $1.28bn in gaming revenue for October
The Nevada Gaming Control Board (NGCB) has reported that the state’s casinos generated $1.28bn in gaming revenue in October. That’s an increase of 4.8 per cent year-on-year and 3 per cent from September. Revenue from July 1 to October 31 was up 3 per cent.
Clark Country generated $1.1bn, up 4.5 per cent from the prior-year period. Within Clark County, Las Vegas Strip revenue was up 0.52 per cent year-on-year to $705.8m. Downtown and Boulder Strip revenue amounted to $90.4 and $80.3m respectively, also up year-on-year.
