Hilton, the parent company of the Waldorf Astoria, announced plans to develop a new mixed-use luxury resort at a 15-acre site in Lake Tahoe.
The Waldorf Astoria Lake Tahoe will be built on the former Tahoe Biltmore site; this marks the fourth luxury property in Nevada for Hilton.
Hilton CFO and President of Global Development Kevin Jacobs said: “As we continue to grow our luxury portfolio, Hilton is always looking for the right opportunities to expand our presence in popular resort destinations.”
The location will feature an upscale casino with live entertainment options and a speakeasy. Lodging and real estate units will be provided as well along with 76 guest rooms.
Jacobs continued: “Lake Tahoe is a highly sought-after and year-round alpine destination making it an ideal location to provide guests, residents, outdoor enthusiasts and locals a haven to explore outdoor activities complemented by our brand’s luxurious amenities.”
The new resort will also provide patrons the opportunity to visit a three-acre lakefront beach and a mountain club at the NorthStar California Resort.
EKN Development Group (EKN) is responsible for the project which was described as “a true connoisseur’s wonderland,” by CEO Ebbie K. Nakhjavani.
Nakhjavani added: “We will offer a wide variety of choices, from gourmet meals paired with world-class wines to curated shops that tantalize the senses.”
As part of the development, project overseers expect a 90% reduction in sediment runoff into Lake Tahoe, and plan to do lake restoration with total water and energy use being reduced by 35% according to EKN.
The development company purchased the Tahoe Biltmore Lodge & Casino in September 2021 for $56.8m.