125-room hotel coming near Las Vegas Motor Speedway

A Las Vegas company announced plans today to develop a 125-room hotel by the Las Vegas Motor Speedway.

CAI Investments said it has signed a deal for an $18-million Starwood Hotels-branded development at Speedway Boulevard south of Interstate 15. The company said construction of the hotel should start in July and last for a year to 14 months after that.

Once finished, the hotel will be run by Crescent Hotel Management, according to CAI. It’s expected to generate 59 construction jobs and 29 permanent ones.

CAI Managing Partner Christopher Beavor said in a statement that his company selected the location near the Speedway because it was close to the interstate as well as the VA Medical Center in North Las Vegas and “newly released manufacturing sites.” The statement said CAI is “aggressively looking to build hotels throughout the Southwest” and that it plans to announce a hotel-condominium project in Las Vegas within the next six months.

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