The Siegel Group
| Company type | Private |
|---|---|
| Industry | Real estate, Hospitality |
| Founded | 2001 |
| Founder | Steve Siegel |
| Headquarters | Paradise, Nevada and Studio City, California , United States |
Key people | Steve Siegel (CEO and President), Judith Siegel (Executive Vice President), Michael Crandall (Senior Vice President) |
| Products | Boutique hotels, casino hotels, short-term apartment rentals, office spaces, retail centers, land development |
Number of employees | Near 1,000 |
The Siegel Group, Inc. is a diversified American enterprise with headquarters located in Paradise, Nevada and Studio City, California. Its portfolio includes ownership and management of boutique hotels, casino hotels, short-term apartment rentals, office spaces, retail centers, and land designated for future development.
History
Established in 2001 by entrepreneur Steve Siegel, who continues to lead as CEO and president, The Siegel Group operates corporate offices in both Paradise, Nevada, and Sherman Oaks, California. With a workforce nearing 1,000 employees, the company has been acknowledged by Inc. Magazine as one of the 500 fastest-growing private firms. Its strategic approach centers on acquiring existing hotel and apartment properties and transforming them into affordable housing options.
Between 2008 and 2013, the group owned the Gold Spike Hotel and Casino situated in downtown Las Vegas before divesting it to Tony Hsieh's Downtown Project. By 2009, Siegel Suites managed roughly 3,000 apartment units distributed across Las Vegas and Mesquite, Nevada. That same year marked the acquisition of the Mount Charleston Hotel, which was subsequently rebranded as Resort on Mount Charleston.
In 2009, The Siegel Group took ownership of the shuttered St. Tropez hotel near Las Vegas’s Hard Rock Hotel. Following renovations, it reopened in 2010 under the boutique hotel name Rumor. This property was later sold in 2017 to investors from Hong Kong who renamed it Serene Vegas.
The Atrium Suites hotel adjacent to the Hard Rock was acquired in 2011 with intentions for refurbishment and relaunch under a new identity. Standing six stories tall, Atrium Suites represented the largest asset within Siegel’s holdings but encountered delays and strategic shifts. Although reopening was initially planned for 2013, the property remained closed while other projects advanced. In 2016, plans emerged to convert Atrium Suites into a residential and extended-stay facility. By 2019, a decision was made to demolish the existing structure and develop a new Siegel Suites complex on the site—marking the company’s second ground-up construction following a similar project completed in Las Vegas in 2017.
The Siegel Group ventured into Arizona’s market in June 2015 by purchasing a property from Legacy Suites for $8.3 million. Later, in May 2019, it acquired two buildings in Las Vegas for $8.35 million with intentions to establish a culinary-focused development.
As of 2019, key leadership includes Judith Siegel serving as executive vice president and Michael Crandall as senior vice president.
Growth
The Siegel Group witnessed swift growth with annual revenues escalating from $8.5 million in 2004 to $111 million by 2007, highlighting notable expansion and enhanced market presence.
COVID-19 Evictions
During investigations by a U.S. House subcommittee into eviction practices amid the COVID-19 pandemic, The Siegel Group was identified as employing "uniquely egregious," misleading, and aggressive eviction methods. Internal documents revealed tactics such as threatening tenants’ vehicles with towing enforcement, involving animal control and child protective services authorities, frequent door knocking campaigns, removal of air conditioning units during maintenance operations, and interference with household electronic equipment. These actions prompted scrutiny regarding the company’s operational ethics during a period critical to tenant stability.