Ritz-Carlton Lake Las Vegas to close
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Feb 8th, 2010 |
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On May 2, the Ritz-Carlton Lake Las Vegas will close.
A member of the Five Star Alliance and considered one of the finest hotels in the world, the Ritz-Carlton in Henderson will be shutting down considering of a lack of funding by Village Hospitality (Deutsche Bank).
They will plus be laying off 400 employees but will try to relocate them to other Marriott properties (which runs the Ritz-Carlton chain).
Lake Las Vegas has been in bankruptcy since July 2008 after the developer defaulted on a loan of $540 million. The Ritz-Carlton, which received the prestigious AAA Five-Diamond award, additionally filed for bankruptcy.
[Source] Las Vegas News Blog