Tropicana + The Chelsea
The Tropicana announced on Thursday that it had acquired The Chelsea, a boutique hotel with 300 rooms that had closed in the winter. The sale was somewhat of a no-brainer, as Carl Icahn is the owner of both properties. He purchased the Chelsea in May.
The 20-story Chelsea is directly across Morris Avenue from the Trop.
“We are pleased with this acquisition and the opportunity to offer our guests more hotel room options on The Boardwalk,” said Tony Rodio, the Tropicana’s president and CEO, in a release. “The Chelsea Tower is a great addition to our four existing hotel towers at Tropicana Atlantic City. Guests will be able to enjoy a boutique hotel feel while having full access to all resort options at Tropicana Atlantic City. Since emerging from bankruptcy in 2010 Tropicana has been a great success story.
“The capital and support of Icahn Enterprises, our controlling shareholder, has been instrumental in our success and I appreciate Carl Icahn’s (IEP’s Chairman and majority shareholder) continued support in the execution of our strategy,” said Mr. Rodio.
More than just reopening a hotel
More on the Trop’s plans for The Chelsea:
- The hotel’s name will be “The Chelsea Tower at Tropicana Atlantic City.”
- Tropicana expects to open the hotel in August.
- Tropicana will make improvements including “a skyway bridge, food and beverage offerings, spa and meeting space during the coming year.”
Meanwhile, Trump Taj Mahal liquidation
While one Icahn property was getting a little bigger, another was seeing its assets liquidated.
People were buying up anything that isn’t bolted down at Trump Taj Mahal, which Icahn sold to Hard Rock International earlier this year. You could even buy some things that were bolted down, like its extravagant chandeliers.
Here is a closer look at some of the things up for sale and bought from the shuttered AC resort.