Hooters is a three-star hotel.Ĭash flow before debt service this year is projected to be nearly three times higher than the 2015 level, Ruff said.Ībout $18 million in upgrades to the property’s rooms, pool and food offerings have boosted Hooters’ performance over the past three years. The prices don’t include resort fees and taxes. The best price for a two-night Hooters weekend stay on April 13 and 14 was $177, compared with $359 for the MGM Grand and $363 for the Tropicana, both four-star hotels. “Product is getting extremely scarce, and there are some huge prices being paid for properties,” he said.
The veteran hotel investor remains bullish on the outlook for the south Strip as T-Mobile Arena hosts more events and the NFL prepares to call the area home.Ī stadium for the Raiders is set to open in 2020 just 1 1/2 miles away, potentially driving nearby hotel occupancy - and room rates - higher.
