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Wednesday, March 28, 2012 | 1:46 p.m.
One of the hotels at Lake Las Vegas in Henderson will be operating under a new name beginning Thursday.
The management company for the 493-room Loews Lake Las Vegas is changing its name to the Westin Lake Las Vegas Resort & Spa.
A ribbon-cutting is set for Thursday so the management company can “proudly introduce the Westin Lake Las Vegas Resort & Spa to our neighbors and community.”
The property initially opened as the Hyatt Regency Lake Las Vegas Resort, Spa and Casino in December 1999.
It became a Loews resort in December 2006 and then ran into financial trouble during the recession.
Since it defaulted on its $117 million mortgage in 2009, the property has been under the control of a court-supervised receiver.
Foreclosure proceedings have been pending against the property since Dec. 12, but so far it hasn’t been foreclosed on and it’s not known when or if that will happen.
The Loews property is managed by Pyramid Hotel Group of Boston.
Officials at Pyramid couldn’t immediately be reached for comment on the rebranding initiative, which analysts say has been under way for some time.
As a Westin property, the Lake Las Vegas hotel will be part of the Starwood Hotels & Resorts network, which includes the Sheraton and Element brands.
Trepp LLC, a company that tracks distressed debt, said in its latest report on Loews Lake Las Vegas that it continued to suffer financially last year.
Room occupancy ran at just 34 percent in 2011, with an average daily room rate of $138.15, Trepp said.
That produced daily revenue per available room of just $47.41, which was down 6.3 percent from 2010, Trepp data show.
The hotel has faced stiff competition from the Las Vegas Strip as well as from resort hotels in California and elsewhere in the Southwest, a Trepp report on the property says.
Pyramid also operates the 826-room Westin Casuarina Las Vegas Hotel, Casino & Spa.
Like the Lake Las Vegas property, the Westin Casuarina Las Vegas was seized by lenders after defaulting on its $160 million mortgage.
This is fantastic news for Lake Las Vegas. While the Loews was a good brand, they did not have the far reaching marketing and customer base that the Westin/Starwood company has. There are 7 million Starwood members.
Now, if Pyramid would just buy the Reflection Bay Golf course which envelopes the new Westin Hotel, Lake Las Vegas will be off to a great start in 2012. Plus, Westin would have a great captive golf audience to up-sell their Starwood points customers to.
Welcome to Lake Las Vegas Westin Hotel! I wish you much success!!
I have to say it again.. Westin/Pyramid, please buy Reflection Bay or at least get Carmel Land and Cattle to re-open it for us Starwood members!
Until they extend 215 out to LLV that place is going to remain a ghost town.
Now that Lake Mead Parkway is 6 laned getting to LLV is pretty easy. Galleria Parkway will opened within the next year or so and that will also add a quick route to Lake Las Vegas directly from the 515 with minimal traffic lights.
The village has been busy every time I go with waits at the restaurants for a table and new homes popping up all over the place. Lake Las Vegas is now picking up where it left off before the recession.
Umm Lets see, open the small casino back up, lower the rates to 99.00 average and put in a fine dining buffet for breakfast and lunch.