Jeff Beacher, the creator of the Beacher’s Madhouse theater venues at the MGM Grand Hotel and Resort in Las Vegas and the Hollywood Roosevelt Hotel in Hollywood, is setting his sights on the Playboy Mansion for his newest and most exclusive showplace.

TMZ reported Monday that he met with Playboy execs about buying the iconic six-acre Holmby Hills estate and creating a partnership with Playboy Enterprises in which Beacher could use the Playboy name for a club he’d develop. Beacher showed up at the meeting with paperwork for a $90 million offer, which included $12 million of his money and the rest from partners.

According to Beacher, his new venture will not be a nightspot as reported by some outlets, but an exclusive, upscale members-only club offering a variety of business, fitness and hospitality amenities. He said modern upgrades will be completed while preserving the Playboy Mansion’s original décor and character.

“We envision this as a private hotel-meets-country club,” said Beacher. “We loved the idea of the Playboy Mansion as it is a private property that already fills the checklist of 100 things a sophisticated member would want. It’s beautiful, historic and perfect for what we want to accomplish.”

A major stipulation of the purchase involves Playboy founder Hugh Hefner being allowed to stay in residence. An earlier proposal made by Hustler founder Larry Flynt was rejected, as Flynt did not meet the asking price and was not favorable to having his 89-year-old rival publisher living in the house. Beacher, in contrast, feels Hefner’s continued presence will bring added appeal and cache to the property.

“We are totally cool about Hefner living at the property,” he said. “We think he will bring a lot to the experience for members.”

Beacher described his private club concept would be along the lines of the Soho House in West Hollywood, where members can host business meetings and private events, and there will be other perks for the membership such as a state-of-the-art gym. However, he stressed there will be no nightclub on the property as his intention is to provide members a peaceful, resort-y experience.

While it was reported that five guest bungalows were going to be built on the property, Beacher said may be more, depending on the conditions set in the final deal.

Beacher said that he predicted the meetings Monday were going to be the first of many, which he estimates will take place over several weeks before a final deal is secured. Once a deal is set, he said there would be talks with the city about zoning, construction and other issues affecting the property, noting that the Playboy Mansion has historically hosted a number of charity and business events over the years.