Maxim Hotel Brokerage Announces Western Transactions
APRIL 17, 2007. Maxim Hotel Brokerage Announces the Following First Quarter 2007 Casino and Hotel Sales Transactions:
Silver Nugget Casino, RV Park and Opera House Casino,
North Las Vegas, NV
Maxim represented a private Las Vegas seller in the sale of these two well known locals-oriented casinos in North Las Vegas. Both are located on N Las Vegas Boulevard and the Silver Nugget included 20 acres of land. Both casinos have grandfather-protected licenses for non-restricted gaming. The Las Vegas based purchaser plans to substantially renovate and expand the facilities. North Las Vegas was the second fastest growing city in the country in 2006.
Chicago's Own Tavern & Slot Bar,
Henderson, NV
Maxim represented a Las Vegas based purchaser in the acquisition of this property. The acquisition included almost an acre of fee simple land, a 7,200 square foot building, along with the right to operate under a restricted gaming license (15 machines) upon purchaser's approval by the Nevada Gaming Authorities. New ownership intends to re-theme and concept the business and expects to re-open in the summer.
LaQuinta Inn,
Las Vegas, NV
Maxim represented a private Las Vegas based seller in the sale of this property. The hotel is eight years old, included an indoor pool along with an expansion parcel to develop additional guestrooms. The location is just off N Las Vegas Boulevard and is proximate to Nellis Air Force Base. The purchaser was California based, will retain the LaQuinta franchise and was fulfilling their 1031 exchange.
Korakia Pensione,
Palm Springs, CA
Maxim represented a private Palm Springs based seller in the sale of this property. Korakia Pensione is one of Palm Springs' highest rated and most unique boutique properties, with nightly rates ranging up to $789 for its unique rooms. A Moroccan inspired breakfast inn, which consists of two historically renowned villas (the Moroccan and the Mediterranean) among 29 rooms, Korakia has been internationally recognized by the Times of London as one of the top small hotels in the world. An exclusive enclave in the Historic Tennis Club neighborhood, Korakia remains a popular rendezvous for an eclectic crowd, including renowned actors, writers, producers and photographers. Dramatic photo spreads of Korakia have also graced the pages of such leading consumer publications as GA, Jane, Arena as well as Vogue, Elle, Marie-Claire and their European counterparts. The purchaser was California-based and plans to continue operating the property as a high-end boutique.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
