Las Vegas, Nevada – January 10, 2017–CBRE Hotels has been exclusively engaged to market the 221-room Rita Suites located one block off the Las Vegas ‘Strip’ at 344 E Desert Inn Road in Las Vegas, Nevada.
“With excellent, current net operating income and strong profit margins, this all-suite, fee simple property offers a tremendous upside opportunity to affiliate with a national hotel brand or as a multi-family or mixed-use redevelopment play,” said Chris Komanowski, senior vice president, of CBRE Hotels in Las Vegas. Mr. Komanowski added, “We are offering the Rita Suites in an auction format with bids due on March 1, 2017.”
Located behind Wynn’s Encore Casino Resort and proximate to the Las Vegas Convention Center expansion which is currently under construction, the unencumbered Rita Suites benefits from year-round demand from one of the most popular leisure and convention cities in the world.
CBRE Hotels is a specialized advisory group within CBRE providing capital markets, consulting, investment sales, research and valuation services to companies in the hotel sector. CBRE Hotels is comprised of more than 385 dedicated hospitality professionals located in 60 offices across the globe.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.