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Friday, Nov. 30, 2001 | 10:39 a.m.
A timeshare developer has acquired the Royal Hotel, and plans to add a 36-story timeshare tower to the Convention Center Drive property in Las Vegas.
The 236-room Royal Hotel was purchased Nov. 15 from a Las Vegas resident for an undisclosed amount by Resort Magic. Resort Magic is a subsidiary of development firm USA Capital of Las Vegas.
Fifty of the hotel's rooms are now sold as timeshares. "Our intent is to continue the conversion of the hotel into timeshare suites," said Cynthia Gatto, Resort Magic's chief operating officer.
Long-term plans call for the addition of a 36-story, 250-unit timeshare tower attached to the Royal Hotel, Gatto said.
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