Vegas cannabis-friendly hotel on the market
A boutique cannabis-friendly hotel near the Las Vegas Strip is up for sale.
An online listing shows the Lexi Hotel is on the market, but no asking price is listed.
The Lexi Hotel was purchased by the Phoenix-based Elevations Hotels and Resorts in 2022 for $11.9 million in a deal with The Siegel Group. The listing for the Lexi Hotel said there have been $4 million in renovations made in the property.
The Lexi Hotel, which used to be called the Artisan Hotel, reopened with its new name in June 2023 as Las Vegas’ first cannabis-friendly hotel and said it would dedicate an entire floor of the hotel to allow for the use of marijuana products.
But it seems the cannabis-friendly spin could change for the 64-room hotel on Sahara Avenue and next to Interstate 15, which is just under an acre in size, as the property listing says “a variety of branding options are available” to penetrate the Las Vegas hotel market.
Lexi Hotel’s website shows it’s open to bookings going into 2025 and has some days throughout the rest of this year where the property is fully booked.
The property listing highlights Las Vegas’ growth in tourism and in high-end events such as the Formula One Las Vegas Grand Prix and concerts at the Sphere as positives for any potential buyer of the Lexi Hotel.
Elevations Hotels and Resorts declined to comment for this story. Multiple commercial brokers also declined to comment about the listing.
Contact Sean Hemmersmeier at shemmersmeier@reviewjournal.com. Follow@seanhemmers34 on X.