Closed Atrium Suites in Las Vegas may soon be sold

2 Dec, 2011

Vegas Inc. reports that the shuttered Atrium Suites hotel in Las Vegas, adjacent to the Hard Rock hotel, may soon be sold—though at a fraction of its value before the recession. The 202-room non-gaming hotel, formerly a Crowne Plaza, closed for renovations in 2008 but never reopened after its lender, Lehman Brothers Holdings Inc., filed for bankruptcy, which led to litigation between the two parties. Thereafter, LV Opportunity Fund acquired the hotel under undisclosed terms in July. Last month, a newly-filed lawsuit shows The Siegel Group agreed to buy the Atrium for $4.2 million, but alleges that despite accepting the offer, LV Opportunity Fund is now trying to back out of the deal. The suit seeks an injunction blocking the sale to any party but The Siegel Group. Stay tuned.

Topic : Las Vegas, Atrium Suites
External Source : Vegas Inc.

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