Tahoe’s Embassy Suites has new owner
SOUTH LAKE TAHOE — The corporation that owns Embassy Suites Lake Tahoe – Hotel & Ski Resort announced March 4 that as of April 1 the hotel will be operating as an independent property with a new management company. PHR Management Inc., an affiliate of Ken Corp., Ltd., the Japan-based ownership group, will assume management of the hotel. Max Saito, vice president of PHR, said the company will retain the hotel’s 220 employees.
Ken Corp. is also planning to invest $5 million to $7 million in property renovations starting in early summer. Saito indicated ownership’s confidence in the property, its employees and the long-term prospects and reputation of Lake Tahoe as a leading vacation destination as the impetus for the move.
John Steinbach, a former executive with the property will be returning as general manager, a position he held from 2004 to 2010. Steinbach, whose history with the hotel traces to its groundbreaking in 1990, said Ken Corp.’s enthusiasm for the property reflects their long held support since 2000 in the South Tahoe market as well as the expanding economy.
The new Lake Tahoe Resort Hotel will focus on integrating the guest with the Tahoe environment, said Bill Cottrill, director of sales and marketing since 1998.
“As an independent hotel we can plan and respond to exactly what our customers want in their Tahoe visit,” Cottrill said. “We’ll utilize our local partners to enhance the guests’ experience. The hotel has four doors and each leads to a unique Tahoe amenity – the beach, skiing, the forest, and entertainment. We’ll connect our guests to all the Tahoe lifestyles and all they have to offer.”
Located in South Lake Tahoe on the California-Nevada border, just yards from Harrah’s Lake Tahoe, the nine-story all-suite hotel has 400 rooms, 10,000 square-feet of meeting space, and a full service restaurant and bar. The hotel opened in 1991. It is the largest and only full-service hotel in South Lake Tahoe.
Ken Corp. is based in Tokyo with an affiliate office in Los Angeles. The company specializes in asset management, real estate investment, international real estate, office and retail real estate, property management, and residential leasing.