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.
“We are excited to be here as we believe Las Vegas is an exciting city in which to invest …” said Abhinav Sinha, OYO chief operating officer and partner, in a statement. “With our newest hotel in Las Vegas, we are certain (OYO Hotel & Casino Las Vegas) will become their preferred place to stay and truly enjoy Las Vegas in the coming months.”
The deal, according to the release, was proposed by Highgate, which will assume management of the hotel while Las Vegas-based Paragon Gaming will continue to operate the property’s 35,000-square-foot casino. The transition will begin next month.
Terms of the deal were not disclosed.
“We’ve had great success managing the Hooters casino and look forward to continuing on as the casino manager and partnering with Highgate to introduce OYO’s brand in Las Vegas,” said Diana Bennett, Paragon’s chairwoman and co-founder.
In June, OYO announced a plan to invest $300 million in the U.S. It currently has more than 100 hotels in 21 states. The company says it’s the third-largest chain of hotels, homes and workspaces.
Entrepreneur Ritesh Agarwal started OYO as a teenager in 2013.