Oracle co-founder Larry Ellison purchased the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village.
Incline Hotel LLC, a branch of Lawrence Investments, Ellison’s investment firm, bought the lakeside resort 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 as part of a long-term management agreement, and there will be no disruption to operations. with this transfer of ownership at this point. time, ”a Hyatt spokesperson told the Tahoe Tribune.
The sale, registered in Washoe County, closed on September 3.
The resort has 422 rooms, including 190 rooms with queen-size beds, 12 accessible rooms and 24 lakefront cabins with fireplaces.
In addition to access to the private beaches of Incline Village, the resort offers its guests several leisure activities, including a supervised Camp Hyatt daycare and sessions for ages 5 to 12 (in season), the Grand Lodge Casino with 16 table games and over 250 slot machines and the 20,000 square foot Stillwater Spa and Salon which includes a total of 16 treatment rooms and two private massage suites for couples.
It also offers ski / snowboard and bicycle rental.
“The sale of Hyatt Regency Lake Tahoe is part of Hyatt’s asset sales strategy to transform into a more fee-based revenue mix, to fund Hyatt’s continued growth in key markets where our customers travel. and fuel new lines of business that enhance the opportunities to care for customers in more ways and places, ”said the Hyatt spokesperson.