Siegel Luxury Suites

The Gold Spike doesn’t exactly scream “boutique chic,” but if the Siegel Group has its way, that perception is about to change.

The group behind extended-stay bargain brand Siegel Suites has acquired five low-cost hotels and is determined to transform them into small-scale, upscale accommodations.

“I’m told every day I’m crazy to be entering into the market with a new concept during such tough times,” Siegel Group founder and president Stephen Siegel said in a statement. “I love that!”

The portfolio now includes the Artisan hotel on Sahara Avenue, The Resort on Mount Charleston, the St. Tropez on Harmon Avenue, and two adjoined downtown properties, the Gold Spike (formerly the Rendezvous) and the Oasis at Gold Spike (formerly the Travel Inn).

“Each hotel now stands at the nexus of hip, fun and sexy,” Siegel said. We want to create an experience that feels exclusive, comfortable, relaxed and has great value.”

Although the deals have been in the works since 2008, Siegel waited until April 13 to formally announce the acquisitions and reveal its big plans for the little hotels, which range in size from 62 to 150 rooms.

The most dramatic undertaking comes to the St. Tropez, which will be given a $3.5 million renovation, a new name, and reopen as Rumor in June. If all goes to plan, the property will be transformed into a buzz-worthy boutique hotel with a “cool pool, zero attitude, modern rooms and unexpected amenities.” Meanwhile, the Oasis gets a new pool area as part of the Gold Spike’s $6 million renovation; The Resort on Mount Charleston receives a special suspended deck for weddings and new pool with dramatic mountain views; and the Artisan gets an extensive face-lift, too. The renovations, which total more than $12 million, are expected to be completed by year’s end.