Gold Spike sold for $21 Million

Actually it's the Gold Spike *AND* the adjacent Travel Inn properties
sold for $21 Million. (What is the acquisition cost per room now?)

It is now owned by Siegel Group Nevada, Inc. and Tippins Holdings, LLC.
http://www.hotelbusiness.com/links/news/news_brief.asp?ID=32203

According to the article, a combined "boutique" hotel is still in the
plans. But for now "the Gold Spike Hotel and the Travel Inn will receive
new signage and have their facades, rooms and gaming, restaurant and bar
areas remodeled."

--flip,

On Feb 7, 5:20 am, flip <f....TakeThisOut@nospam.com> wrote:
> Actually it's the Gold Spike *AND* the adjacent Travel Inn properties
> sold for $21 Million. (What is the acquisition cost per room now?)
>
> It is now owned by Siegel Group Nevada, Inc. and Tippins Holdings, LLC.http://www.hotelbusiness.com/links/news/news_brief.asp?ID=32203
>
> According to the article, a combined "boutique" hotel is still in the
> plans. But for now "the Gold Spike Hotel and the Travel Inn will receive
> new signage and have their facades, rooms and gaming, restaurant and bar
> areas remodeled."

Wow, there's a lot of misinformation in that article. The Gold Spike
was bought by Siegel and Tippins for $21 million. They bought the
Travel Inn last year for $5 million. They are renovating the Spike,
but there is no plan in the near future to make a boutique hotel.
They are going to clean the places up, but no other structures are
being though up except perhaps to connect the two properties.

I'm in contact with them. They started renovations this week. They
also promised me they were going to get the smoke stench out of the
place. I hope they don't remove it all.

Matt