The Westin Lake Las Vegas was sold for $25 million.
The 493-room hotel was sold for 84 percent less than what the property's previous owners payed for the hotel nearly a decade ago. The 21.6-acre hotel is one of three resorts that opened in Las Vegas in 1999, becoming a Loews Resort in 2006 when it was purchased for $155 million.
It is not currently known what affect the sale will have on the hotel's operations or branding.