page_title: Grand Sierra Resort
section_title: Grand Sierra Resort (2006–present)
hierarchical_section_title: Grand Sierra Resort / History / Grand Sierra Resort (2006–present)
caption_attribution_description: English: Old logo of the Grand Sierra Resort. See File:Grand Sierra Resort Logo.png for current logo.
context_page_description: Grand Sierra Resort is a hotel and casino located approximately three miles east of Downtown Reno, Nevada. The hotel has 1,990 guest rooms and suites, 10 restaurants, including two by celebrity chef Charlie Palmer and a casino with 63,584 sq ft of space. The Grand Sierra has a movie theater, a Race & Sports Book, nightclubs including LEX a 25,000 sq ft venue with a swimming pool, lake golf driving range, a two screen cinema, an RV park and a recently opened ice rink. It is owned and operated by Southern California based investment group headed by The Meruelo Group.
context_section_description: After all problems were addressed with all parties involved, the Reno Hilton became the Grand Sierra Resort and Casino on June 24, 2006.
  During the first ownership of the Grand Sierra Resort nearly $100 million was spent to convert the property into the new brand. The money was spent on reconfiguration of the public areas, a new swimming pool area, update for the casino that included keeping the original MGM-like ceilings, a refreshed hotel lobby and converting floors 17–27 into "hotel-condos" called The Summit. The company had larger-scale expansion plans that included a water park, boutique shopping, a water and laser show, 48-story condominium high-rises and further renovations. Those never came to fruition. Briefly, the hotel was home to Nikki Beach nightlife and Ashton Kutcher's Dolce Enoteca restaurant. In October 2008, in the midst of the economic crises, GSR's ownership or group of investors failed to make payments on their loans with their financier, JPMorgan, essentially bankrupt, the bank foreclosed on the 2,001 room hotel/casino and assumed ownership, assigning it to their affiliate Credit Markets Real Estate Holdings to oversee operations. That affiliate brought on Las Vegas-based management companies such as Catalyst, who flips struggling hotel/casinos and makes them attractive to a buyer. Those companies, including the Navengante Group and Santo Gaming, both Las Vegas based, continued to make improvements to the resort such as adding or replacing restaurants. The hotel/condo program was eliminated and settlements with buyers are ongoing to this day, the renovated rooms above the 17th floor that are non-private owned rent as hotel rooms.
  In 2009, The Meruelo Group began looking at the property with an interest to purchase it. CEO Alex Meruelo was intrigued by the property's potential to truly become an elite destination resort. After negotiations between Meruelo and JPMorgan, a deal was reached to sell the 145-acre site for only $42 million. This payment was made in cash, and the deal was announced in February 2011. Quickly, the deal closed after regulatory approval in April 2011. Out of bank ownership, Meruelo pledged to continually make improvements. Not gamers, Meruelo, owner of successful restaurant chains, TV stations and construction companies, was now in the business of hotel/casinos. He brought on seasoned management from Las Vegas to help in his effort to rebrand the property. In August 2011, the company announced a multi-phase $25 million improvement program that would renovate the casino, hotel lobby, rooms and restaurants. In August 2012, that program was completed. Favoring bright and modern versus elegant and dark. Even with the first round of renovations completed, Meruelo was not stopping their improvements with renovations to their sports book, a new Spa, new stores and a $14 million nightclub opened in 2014. For the first time in the property's 30-year history, exterior enhancements were made in 2014.
  In Spring 2013, it was announced Meruelo Group had a firm deal to acquire an Atlantic City Casino and Hotel Trump Plaza for $20 million, however, in April 2013, that deal was put on hold as the parent company's mortgage holder put a stop to the deal. Meruelo was still committed to acquiring it and expanding their network of hotel/casinos. Another renovation for the meeting space occurred in the summer of 2015.
caption: Grand Sierra Resort logo (2006–2012)
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