The Siegel Group has foreclosed on the Artisan Hotel, an off-Strip boutique hotel in Las Vegas.
The Siegel Group acquired the nongaming hotel’s bank note for $1.4 million from the Artisan's primary creditor, the Citizens Bank of Oregon, Missouri, according to a Las Vegas Review-Journal report. The hotel succumbed to foreclosure in late December.
The 64-room hotel is known for displaying reproduced works of well-known artists, including Cezanne, Chagall, da Vinci, Rembrandt, Renoir and van Gogh.
Siegel Group will operate the hotel under the same artists’ theme but said it will "focus much of its attention on correcting deferred maintenance issues and modernizing aspects of the hotel while expanding the amenities and services provided."
Siegel Group also owns the Resort on Mount Charleston, which is about a 30-minute drive from the Strip. In April, Siegel Group plans to open the St. Tropez Hotel, an off-Strip property across the street from the Hard Rock Hotel.