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Larry Ellison Entity Buys Hyatt - $345M

According to public documents recorded in Washoe County, an entity associated with Larry Ellison purchased the Hyatt Regency Hotel located at 111 Country Club Dr. and an adjoining parcel on 995 Lakeshore Blvd. The latter parcel is a lakefront property of around 8.5 acres with twelve cottages and the main building, while the hotel is a 12-story, 422-room hotel just across the street on Lakeshore Blvd. Larry Ellison previously purchased the Cal Neva Lodge & Casino in Crystal Bay for $38.5M in 2018 through bankruptcy proceedings.

Read the story here.

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EKN Development Group Buys Tahoe Biltmore - $56.9M

According to the Washoe County Recorder’s Office, the $56,875,000 transaction closed Sept. 16, with EKN acquiring the 15-acre property from Boulder Bay LLC. Boulder Bay LLC originally purchased the 75-year-old property in 2007 for $28,350,000, according to county records, with grandiose redevelopment plans for the historic property. Those plans were unveiled in 2008 and eventually approved in 2011. However, funding and other concerns over the years aided delays. Per the Oct. 7 press release, EKN intends to develop the property “into a branded marquee destination for both locals and visitors to Lake Tahoe’s vibrant North Shore.”

Read the story here.

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With the Cal Neva Lodge & Casino as well as the Tahoe Biltmore under new ownership, we expect to see a very bright future for Crystal Bay, where both properties have been dormant for quite some time. If you are interested to view Crystal Bay and Incline Village properties, please contact [email protected].

View our featured Crystal Bay listing here.

View our featured Incline Village listings here and here.