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Hooters Is Sold For $135 Million


This one has been rumored for a while but it’s finally happened as the Hooters Hotel and Casino has been sold to India’s biggest lodging company Oyo Hotels and Homes and Highgate a New York investment management company. The purchase price is $135 million and the Hooters name will be no more as the new name will be Oyo Hotel and Casino as soon as the deal is finalized most likely in the next month.

The current operator of the casino Paragon Gaming will continue to operate the casino although i would expect to see other changes to the property once the new owner takes over. Oyo Hotels & Homes was founded in 2013 and claims it’s to be the third largest chain of hotels, homes, managed living and workspaces.

The Oyo name sounds very corporate and sounds like a business hotel than a traditional Las Vegas resort but the Hooters name always had baggage with it; The Hooters name had name recognition but it wasn’t the best name if you wanted to draw female visitors to stay or visit your property.

Over the last view years i have noticed more and more Indian visitors in Las Vegas if Oyo Hotel & Casino could tap in to the emerging middle class in India and get them to visit Las Vegas as well as stay at their property they could do well.

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