UPDATE SEPT. 17: The sign outside of the former Hooters hotel-casino has been changed. The hotel-casino is now named the Oyo Hotel & Casino.
The Hooters hotel-casino on Tropicana Boulevard has been sold.
It was sold to Oyo Hotels & Homes, India's biggest lodging company, and its partner Highgate, a New York-based hotel investment and management company, for $70 million, according to San Diego Union-Tribune.
Oyo says that it will rebrand Hooters as Oyo Hotel and Casino. They plan to spend about $20 million to renovate the hotel, which will remain open during the renovation.