Ever hear of Oyo Hotels? If our sources are right, you’re about to.
We’ve learned exclusively Hooters Casino is now under contract with hotel operator Highgate and the company plans to make Hooters Las Vegas an Oyo brand hotel.
Hooters Casino Hotel Sold
OYO Hotel and Casino Las Vegas, formerly Hooters Casino Hotel, is located at the south end of the Las Vegas Strip. Everything is within walking distance from our front doors. Go ahead, explore. You won’t need a taxi – just a comfy pair of shoes and a curiosity about the most entertaining street on the planet. The Hooters resort off the Las Vegas Strip has been sold to India-based hospitality company OYO. The 657-room resort will be rebranded as OYO Hotel & Casino Las Vegas before the end of the year, officials said today in a statement. Article - Hooters in Four States Sold - Hooters of America, Inc. Announced that its oldest franchisee, R.M.D. Of Louisville, Kentucky has reached an agreement for the sale of its assets to a. When I heard that Hooter’s Casino in Las Vegas had been sold and was going to be rebranded by the new owners, I knew that I had to make a real craps game video. I was in college at the time when the Hooters brand was hot and the waitress dress code was quite scandalous. Buying Hooters Casino and Hotel (696 or 727 rooms) from 155 East Tropicana, LLC for about $235 million. The hotel will probably be renamed and rebranded. Hedwigs is a joint venture of NTH Advisory Group, LLC and an unnamed private equity investor. For more information, see NTH. The most renamed hotel in Vegas.
Hooters Casino Sold
Our sources say the Hooters restaurant at Hooters hotel-casino will close after the hotel rebrands. The Hooters restaurant inside the Hooters resort is said to be the most profitable in the company’s entire chain.
We’re fairly sure “OYO” stands for “on your own.” Related: Once you see the face, you can’t unsee it.
Highgate Hotels is a real estate investment and hospitality management company, also involved with the Westin and Renaissance hotels in Las Vegas. The company operates more than 100 hotels around the world. Learn more.
Oyo is a rapidly-expanding Indian budget hotel company which recently entered the U.S. market in Dallas, San Antonio and Houston. It now appears the company has its sights set on Las Vegas.
Oyo describes itself as “the world’s fastest growing company and world’s sixth largest chain of operated hotels, homes, managed living and workspaces.”
The company’s portfolio boasts more than 23,000 hotels in 800 cities in 18 countries. Combined, the company has more than 330,000 rooms. See more.
This is the Oyo business model: Oyo partners with existing hotels, rebrands them as Oyo franchises and streamlines booking, pricing and technology services. It then gets a percentage of the hotel’s monthly revenue.
The company reports occupancy increases of 30-40% at Oyo hotels, and revenue increases of as much as 60%, which would be welcomed by the owners of Hooters, of course.
Hooters is owned by Trinity Hotel Investors and operated by Paragon Gaming.
The arrival of Oyo in Las Vegas could bring some drama along with it, as the company’s founder and CEO, 25-year-old Ritesh Agarwal, is not controversy-free. Let’s just say gaming regulators aren’t big fans of controversy. Get details.
Hooters has been known by a lot of names, so if it’s rebranded to Oyo, it’ll join this long list of past names: Paradise, Treasury, Pacifica, Polynesian and Hotel San Remo. There will be a quiz.
Hooters Casino Hotel
Details about these moves at Hooters are scant at the moment, but that’s never stopped us from passing along scoop before!
You’ll hear more when we do.
Update (8/6/19): Here’s our take on Channel 8.
Update (8/7/19): Our sources confirm Hooters restaurant won’t be around following the transition to Oyo. At its peak, the restaurant served a million customers a year.
Update (8/17/19): We’re now hearing the Hooters rebrand to Oyo will happen Sep. 16, 2019.
Hooters Casino Oyo
Update (8/23/19): As if we weren’t already unbearable enough, our story has been confirmed. Oyo has acquired Hooters hotel for a reported $135 million and will be rebranded Oyo Hotel & Casino Las Vegas. Highgate will manage the hotel and Paragon Gaming will continue to operate the resort’s casino. Read more.
Update (8/26/19): We’ve learned not only will the Hooters restaurant at Hooters hotel close, it will be brought to a resort on the Las Vegas Strip. While there won’t be a Hooters hotel on The Strip, an existing resort will be getting a Hooters restaurant and Hooters-branded casino (think casino-within-a-casino, like Pussy Cat Dolls at Caesars or Playboy Club at Palms when those were a thing). More details to come.