Lexi Las Vegas Hotel is Up For Sale (Again)
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Poor Lexi Las Vegas Hotel. It’s the red-headed stepchild of Las Vegas hotels, the little engine that couldn’t.
The Lexi used to be the Artisan. You know, the hotel which at one time you could buy out (yes, the entire hotel) for $7,500.
The Lexi Las Vegas Hotel is up for sale. Again.
It seems like only yesterday the owners of the Lexi, Pro Hospitality Group, were touting the fact they were investing $3 million (it turned out to be $4 million) in a renovation. They bought the Lexi for $11.9 million in 2022.
Pro Hospitality Group has, it seems, gotten what’s referred to in hotel ownership circles as a “reality check.”
We inquired about the asking price for the Lexi, but have not gotten a response yet. Information provided by the realty company is “confidential,” so we’ll definitely share it when we hear back. That’s one of the things that makes quotation marks so awesome.
Some of the items in the listing are glorious.
The Artisan was mainly known as being the location of swingers parties and porn shoots. The Lexi real estate listing includes this on-brand nugget, “A variety of branding options are available which will allow the asset to better penetrate the competitive set.” Some jokes write themselves.
The Lexi talks a lot about how it’s adult-only and cannabis-friendly.
From the Lexi Web site, “High expectations for a forward-thinking hotel are met in fourth-floor rooms outfitted with cutting-edge air filtration technology. Reserve an elevated room to enjoy cannabis friendly amenities.”
We’re pretty sure if The Lexi is making any revenue at all, it comes from snacks sold through the in-room minibars, if you get our drift.
Anyway, if you’ve been looking for a tax shelter and always wanted to buy a Las Vegas hotel (sorry, no gambling license), have at it.
If downtown is more your style, Downtown Grand is also for sale, in the $180 million range. We’re sure they’re open to haggling.
