Alex Meruelo is the owner of Downey-based management firm Meruelo Group. He founded his company in 1986 and has built a diverse portfolio of companies in construction and engineering, hospitality and gaming, television, radio, real estate, food services and private equity. The Meruelo Group recently took ownership of the 1,616-room SLS Las Vegas Hotel & Casino. The acquisition was for an undisclosed amount from San Francisco-based real estate investment management firm Stockbridge Capital Group. Stockbridge has had a stake in the hotel – formerly the site of the Rat Pack-era Saraha Hotel & Casino – since 2007. The San Francisco REIT acquired the remaining stake in the property from its former partner SBE Entertainment owner Sam Nazarian in 2015. Meruelo’s company plans to upgrade the rooms, pools, casino floor and entertainment venues of the luxury hotel, which is branded with Miracle Mile-based hospitality firm SBE’s SLS hotel concept and contains several SBE dining concepts, including sushi restaurant Katsuya and gourmet burger restaurant Umami Burger.
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