Ellison firm buys Hyatt Regency at Lake Tahoe for $345M
INCLINE VILLAGE, Nev. (AP) — Oracle Co-Founder Larry Ellison’s investment firm has purchased the Hyatt Regency Lake Tahoe Resort, Spa and Casino at Lake Tahoe, the Tahoe Daily Tribune reported.
Incline Hotel LLC, a branch of Lawrence Investments, bought the lakeside resort at Incline Village for $345 million, according to the Washoe County Recorder’s Office.
“We want to reassure our colleagues, guests, customers and community that Hyatt will continue to manage Hyatt Regency Lake Tahoe under the Hyatt Regency brand under a long-term management agreement, and there will be no business disruption with this transfer of ownership at this time,” a Hyatt spokesperson told the Tribune.
The sale, recorded in Washoe County, was finalized on Sept. 3.
The resort features 422 guestrooms and 24 lakeside cottages. It’s Grand Lodge Casino has 16 table games and over 250 slot machines.