Larry Ellison sells Cal Neva Resort in Tahoe to Denver-based developer McWhinney. The famed Cal Neva resort in Lake Tahoe has been purchased by a Denver-based real estate firm that plans to renovate and reopen it as a Proper-branded hotel.
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In hospitality circles, Ellison is known for buying much of Lanai, Hawaii's most exclusive island and home to just two resorts, Manele Bay and the secluded Lodge at Koele, both Four Seasons properties. After he oversaw massive renovations, Manele Bay became the Forbes 5-Star Four Seasons Resort Lanai.
INCLINE VILLAGE, Nev. (AP) — Oracle Co-Founder Larry Ellison's investment firm has purchased the Hyatt Regency Lake Tahoe Resort, Spa and Casino at Lake Tahoe, the Tahoe Daily Tribune reported.