Voters in Nevada approved the recreational consumption of cannabis by individuals aged 21 and above on the November 2016 ballot. Like most states with legal cannabis markets, Nevada outlawed public cannabis consumption of any kind, meaning individuals had to use cannabis within their homes.
Since cities such as Las Vegas were looking to benefit big from cannabis tourism, out-of-state visitors had no choice but to consume cannabis in private residences with the owners’ permission. However, that will change when the Artisan Hotel Boutique becomes the first hotel to offer facilities for public consumption for residents and tourists.
Elevations Hotels and Resorts acquired the hotel from the Siegel Group in March 2022 for $11.90 million. A recent statement from Elevations Hotels and Resorts revealed that it would be investing millions of dollars to convert the boutique into a cannabis hotel dubbed the Lexi.
Rather than sell cannabis onsite, Lexi will focus on providing spaces for marijuana consumption. Consumers will be able to buy cannabis from the Planet 13 cannabis superstore a few blocks away and drop by the Lexi to consume the product. Each room in the hotel will have a RestorAir filtration system, and the entire fourth floor will be dedicated to cannabis smokers.
According to Elevations president and CEO Alex Rizk, the Lexi will allow the company to “create a new hotel concept” that normalizes cannabis consumption within the field of hospitality. Furthermore, he said that the cannabis-friendly hotel showcased the company’s dedication to transforming its spaces for “modern-day travelers.”
One news outlet reported that Elevations spent more than $15 million purchasing and renovating the 1.3-acre property to convert it into the first cannabis-focused resort in Las Vegas. On top of offering cannabis-friendly spaces, the Lexi will also feature a Cajun-inspired steakhouse run by executive chef Jordan Savell, a European-style pool that encourages patrons to swim topless and a new artisan bar and lounge.
The Lexi will go a long way to fix a glaring problem affecting Las Vegas’ cannabis sector: cannabis users on the Las Vegas Strip had no place to use the substance they had purchased legally from licensed retailers.
Plans for public cannabis lounges began to crystalize in late 2022 when commissioners in Clark County passed regulations for consumption lounges on the Strip and in the city proper.
State regulations require cannabis consumption lounges to stay at least 1,000 feet away from schools and 300 feet away from places of worship, and community and government facilities.
Access to finance has been one of the biggest hurdles the cannabis industry faces. As more enterprises such as REZYFi Inc. fill the financing gaps within the marijuana industry, it is possible that more innovations will be debuted on the market as the industry matures in different markets.
NOTE TO INVESTORS: The latest news and updates relating to REZYFi, Inc. are available in the company’s newsroom at https://cnw.fm/REZY
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