To be renamed the Resort at Mt. Charleston, the Mt. CharlestonHotel, Event and Conference Center sits on 5.76 acres and includesgaming, a full-bar, restaurant, banquet facilities and spaservices, though the gaming (15 slot machines) has been temporarilyshut down while the new ownership obtains its gaming license. Theresort caters to both locals and tourists, and also hosts eventssuch as weddings, family reunions, birthday celebrations andcorporate retreats. Online reviews from this summer and fall speakhighly of the area in general--snowshoeing and skiing in the winterand, in the summer, a refuge from the 100-plus-degree heat in LasVegas--but have dogged the hotel itself for being run down andlacking in amenities, a situation the Siegel Group plans tofix.

Siegel's JV partner is Great American Capital, which iscontrolled by Haskel Iny. Under the name Mt. Charleston Hotel LLC,Iny and partners paid upward of $4 million for the property in late2004, according to public records. The record of the new propertysale was not yet available online and Iny did not return a phonecall seeking comment.

Siegel Group chief Stephen Siegel declined to go into detail butdid say that Siegel Group is the controlling member and GreatAmerican Capital essentially a silent partner, and that SiegelGroup affiliate Sasco Properties is assuming the managementcontract for the resort, which has not been operating profitably.Siegel estimates the value of hotel at between $8 million and $10million, which he says is based on current offers to purchase theresort.