There are financial troubles facing the legendary and iconic Las Vegas Hilton hotel where Elvis preformed. The hotel is $250 million in debt and has filed papers for foreclosure. http://www.vegasinc.com/news/2011/se...losure-notice/ It's so bad that Hilton is pulling it's name from the hotel at the end of this year after being the hotel's name since 1972.
While the link I provided doesn't talk about EPE or their possible involvement, there's questions being asked in Vegas if the hotel will be foreclosed and God forbid, demolished or saved by an investor. Could EPE and CKX be those investors? Time will tell if they have any interest at all.
Back in the 90's EPE approached the Hard-Rock Hotel in Las Vegas about purchasing it and transforming it into an Elvis-themed hotel resort, but negotiations fell through. Just a few years ago CKX and EPE were making plans to build a new Elvis-themed hotel of about 3,000 rooms at a cost of $1 billion, but that too fell through due to the first recession storm to roll through. The Hilton (soon to be restored back to it's original name, International, on January 1, 2012) would only cost them about $250-300 million (hotel's market value). A lot less than their proposed Elvis hotel that fell through back in 2008. It being where he played all of his legendary shows would also seem to have a big factor for them to step in and make an offer.
Another question is would Apollo approve or get involved themselves?
The 2,950-room Las Vegas Hilton Hotel was built in 1969 and was at the time the largest hotel in the world at the highest financial cost to build.
So, what do you guys think fo the possible future Elvis Presley International?
Check out my new blog about Elvis Presley @ http://elvis21century.blogspot.com/
I think it would be Fantastic!! Elvis and the International/Hilton are legendary in Vegas, it would be a shame if the demolished it like so many other casinos thru the years, I miss them all IE: Sands-Dunes-Hacienda, Elvis is Vegas, his legacy lives on at the Hilton, sure hope all involved make the right moves, Elvis, Vegas, and all his fans deserve it!! TCB-Elvis International!!!
Well if an Elvis-themed hotel is to ever happen in Vegas, the original International Hotel would always have the "Elvis historic landmark" plus, so...
would be great to see it renamed back to The International..........
"NO-ONE, BUT NO-ONE,IS HIS EQUAL, OR EVER WILL BE. HE WAS, AND IS SUPREME".Mick Jagger
I would love to see that happen. What a tribute to Elvis that would be!
quite agree Diane........long overdue
I can see Elvis suite and dressing room restored as it was in '69, and fans able to visit it Graceland like. A small museum with stuff from Graceland related to vegas. Elvis The Concert in the showroom Elvis used to perform, etc.
Anyway, its an old building, and the Hilton is no longer a main draw, its far away from being the hottest spot in Vegas today, a mayor reworking on its concept will be needed, as just the Elvis nostalgia won't be enought to make it profitable.
Oh wow......Imagine The Concert being in the main showroom. Awsome!!!!!!
I think it would be a great idea for the International Hotel to become an Elvis-Themed one. Let's hope EPE/Apollo run with it. Would also make a great convention site.
Brian
I say, "Build it and we will come!"
America has contributed four things to the world that are really unique: Baseball, Coca-Cola, Mickey Mouse and Elvis Presley. And only one of them is human - - Jerry Hopkins - "Elvis" - A Biography.
If Elvis the Concert was in the showroom, that would sure be icing on the cake!
It's not on the strip, the economy is in the tank, I doubt EPE is interested.
i`m not surprised i think we all could see this comming especially with all the new development and resorts that were being built in th e boom by wynn , cesars palace, mgm etc.. I really do think if the hotel went in with a ELVIS theme it would be a fans dream minus the impersonators. In reality i don`t think fans comming once a year and halfway filling the hotel can make it survive.
well, I was in Vegas a few months ago and there a lot of talking about this. the hotel was busy and there is also the incredible star trek museum over there.
steve
The Star Trek Experience has been closed down for about a year or so. Here's a new article about the potential foreclosure. I really wished EPE would get involved since they were already planning the Elvis-themed resort at a higher cost. Makes no sense why they wouldn't. http://www.vegasinc.com/news/2011/oc...rtner-foreclo/Originally Posted by steve grayson
Check out my new blog about Elvis Presley @ http://elvis21century.blogspot.com/
I think the answer to this mini puzzle is simple, if CKX could not get their act together to build a hotel of their own when times were good the chances of them buying an expensive hotel and renovating it are slim in these bad times.
Apollo is in control and CKX nor EPE would try to acquire this property without their full support and backing so IMO don't hold your breath.
Most economists say we have a couple-3 years of shaky economy to go before the corner is turned.
Work in Progress!
Interesting that you should say that. Apollo Management is well known for using a weakened economy to invest the mass majority of their money into it's properties, ie, Caesars Entertainment, EPE and CKX. I'm not saying that they're going to buy up the $250 million debt of the LV Hilton-International or that they will even have any interest at all, but it's possible since that's how they operate.
Also, the comment about CKX was immature and inaccurate. True that they failed to get the original grand resort built in Las Vegas. But that was all due to the first recession that came like a tornado without much warning. They were not the only company that had to cancel major developments in Vegas. I can assure you that. Several developers hit rock bottom because of it too. I know some love to throw stones at Mr Sillerman and blame him for this and that but the truth is, that was not his doing as the failure for the proposed hotel. That was the global economy's doing.
CKX and EPE along with now defunct FXRE real estate were about to invest $1.3 billion into a new luxury themed Elvis resort, casino and museum of 30 plus stories high and over 3,000 hotel rooms with vilas. The Hilton, as it is, is worth around $300 million, is already built and in very good condition, is a luxury hotel with about 3,000 rooms and vilas. Even in this tough economy this is a no brainer,. But like you said, Apollo has to sign off on it or it won't happen.
Check out my new blog about Elvis Presley @ http://elvis21century.blogspot.com/
Update on the Las Vegas Hilton. It is now officially named the LVH as in Las Vegas Hotel & Casino. And the word in Vegas is that it's gone downhill fast. It's dirty, outdated, and has seen a drastic drop off in business and the fact that it's off the strip is hurting business at the famous hotel. However, the hope is that the new owners of the property (whoever that may be) will spend some money to renovate it. It's going to take about $100-200 million to bring it up to today's standards to compete with the more popular hipper resorts on the strip. A new owner though won't be known until the foreclosure auction date is set. The bid is expected to be around $252 million. That was the amount that Hilton defaulted on. Sillerman's Vegas hotel plan was killed because of defaulting to pay on the property there that then CKX had bought. This could be a good way to make that plan happen after all at an affordable cost. Sillerman's plan was to have been over 3,000 hotel rooms and cost $3.9 billion. If EPE ever wants to have an Elvis-themed hotel in Vegas then this is it. They have the backers this time to make it happen. With Elvis' suite already there, the theater where he performed, and 70,000 square feet of free entertainment space for a mega museum attraction (where the Star Trek-The Experience once was) it's a no brainer. The fans would come, as would everyday people. It is a landmark and has the Las Vegas Convention Center directly next to it, making it a major business hotel. Just renovate it and rebrand it into a 5-star Elvis-themed luxury hotel and it's got a life savior. Otherwise, prepare for it to get the wrecking ball.
They could rename it The King Resort Hotel Casino.
Check out my new blog about Elvis Presley @ http://elvis21century.blogspot.com/
The "backers" are the ones calling the shots so if they want to invest they will-if not they won't.Update on the Las Vegas Hilton. It is now officially named the LVH as in Las Vegas Hotel & Casino. And the word in Vegas is that it's gone downhill fast. It's dirty, outdated, and has seen a drastic drop off in business and the fact that it's off the strip is hurting business at the famous hotel. However, the hope is that the new owners of the property (whoever that may be) will spend some money to renovate it. It's going to take about $100-200 million to bring it up to today's standards to compete with the more popular hipper resorts on the strip. A new owner though won't be known until the foreclosure auction date is set. The bid is expected to be around $252 million. That was the amount that Hilton defaulted on. Sillerman's Vegas hotel plan was killed because of defaulting to pay on the property there that then CKX had bought. This could be a good way to make that plan happen after all at an affordable cost. Sillerman's plan was to have been over 3,000 hotel rooms and cost $3.9 billion. If EPE ever wants to have an Elvis-themed hotel in Vegas then this is it. They have the backers this time to make it happen. With Elvis' suite already there, the theater where he performed, and 70,000 square feet of free entertainment space for a mega museum attraction (where the Star Trek-The Experience once was) it's a no brainer. The fans would come, as would everyday people. It is a landmark and has the Las Vegas Convention Center directly next to it, making it a major business hotel. Just renovate it and rebrand it into a 5-star Elvis-themed luxury hotel and it's got a life savior. Otherwise, prepare for it to get the wrecking ball.
They could rename it The King Resort Hotel Casino.
Work in Progress!
Is it already too late now, because this thread was started a year ago? Does the hotel still exist? If it does: I think that the hotel would be saved that way & I think it would be great!
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