Ritz-Carlton Lake Las Vegas to close

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

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