A boutique hotel property near the Las Vegas Strip has been sold to an Arizona company with plans to renovate the property and turn it into a marijuana-friendly venue.
Pro Hospitality Group, which already owns the cannabis-friendly The Clarendon Hotel and Spa in Phoenix, paid $11.9 million to purchase the 64-room Artisan hotel near the Strip, according to the Las Vegas Review-Journal.
Pro Hospitality owner Alex Rizk told the newspaper he plans to renovate the Las Vegas property by September and make it “cannabis friendly” when Nevada regulations permit.
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Pro Hospitality’s Clarendon property in Arizona features a marijuana lounge and some rooms that permit cannabis consumption, according to the hotel website.
A number of Nevada companies are preparing cannabis consumption lounges with the aim of profiting from the state’s huge tourist market.