The Las Vegas Hilton opened in 1969 as the International, long-time on-off home to Elvis, before being sold in 1970 to Hilton Hotels Corporation, which renamed the resort-casino the Las Vegas Hilton in 1971.
The original Hilton sign was semicircular in shape, cost $5 million to build, and at 362 feet was the tallest freestanding advertising sign in the world, prior to being blown down by the thunderstorm you referenced on July 18, 1994. You can just about make it out in this 1978 aerial photo from UNLV's Special Collections.
The sign was rebuilt in 1997 at the same location, incorporating the foundation and steel structure of the old marquee, to celebrate the opening of Star Trek: The Experience and, although redesigned to smaller dimensions of 279 feet high and 164 feet wide, we understand it still holds the record as the largest freestanding sign.
Fast forward to Jan. 3 of this year, when the hotel lost the right to use the Hilton name, requiring the hasty removal of all signage. The following month a court-appointed receiver for the renamed LVH — Las Vegas Hotel & Casino -- claimed that, "The termination of the Hilton License Agreement, coupled with the fact that the property did not have the financial resources to purchase replacement exterior signage or to initiate a new brand advertising campaign to attract leisure travelers, has had a dramatic negative impact on hotel occupancy" and said $700,000 was required for exterior signage to replace the Hilton signs.
After months of temporary or missing signage, on July 26 the new "LVH" letters were finally unveiled. They measure 30 feet tall and 15 feet wide, and weigh approx. 8,000 lbs each. The old elements are currently in storage, we understand, with no plans to donate them to the Neon Museum, as far as is known. The current owners of the property claim that it's all ushering in a new era for the long-troubled property, although Hilton occupancy-rates remain well below the city average, despite rock-bottom prices, and recent eye-witness reports indicate that all is far from rosy at the off-Strip convention hotel.
Images appear courtesy of Wikipedia.