Hooting to the Bank

The Hooters Hotel & Casino is about to get new ownership, as the corporation behind the project announced a plan to accept an unsolicited $95 million offer from the NTH Advisory Group LLC. The transaction comes less than a year after opening the property and two years after paying $67 million for what was then the San Remo Hotel. As part of the deal, NTH also will assume $130 million in principal that is due by 2012. Don’t expect the property branding to change, though, just the ownership behind it.

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