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Looking down at the MonteLago Village Resort and the shuttered Casino MonteLago from Grand Mediterra Boulevard at Lake Las Vegas.
Published Friday, April 16, 2010 | 12:07 p.m.
Updated Friday, April 16, 2010 | 5:27 p.m.
Sun Archives
- Bankrupt Lake Las Vegas targeting former investors (4-12-2010)
- Residents of Lake Las Vegas told recovery on the way (4-9-2010)
- Wide-open fairways at Lake Las Vegas (3-31-2010)
- Lake Las Vegas: A shining lakeside oasis loses its luster (3-1-2010)
- Population dearth doomed Casino MonteLago at Lake Las Vegas (3-1-2010)
- Casino MonteLago at Lake Las Vegas to close next month (2-16-2010)
- Ritz-Carlton Lake Las Vegas to close in May (2-8-2010)
- Lake Las Vegas proposes bankruptcy plan (9-5-2009)
- Judge approves bankruptcy for Lake Las Vegas golf course (6-29-2009)
- Another golf course to close at struggling Lake Las Vegas (6-25-2009)
- Residents of bankrupt Lake Las Vegas face uncertainty (3-23-2009)
The lodging portion of the MonteLago Village Resort at Lake Las Vegas is under new ownership, a California-based real estate investment firm announced today.
Pacific Capital Management, which had owned only the dining and shopping portion of the village, has acquired the lodging operations of the village from IntraWest Hospitality Management. Signal Butte Investors LLC, an affiliate of Pacific Capital Management, has owned and operated the shopping and dining element of the village since June 2007.
Signal Butte has brought in Aston Hotels & Resorts to run the resort operations in the village. Aston operates hotels in Lake Tahoe, Idaho and Hawaii.
The company said planned events and resort packages will be unaffected by the ownership shift.
MonteLago Village Resort General Manger Nick Darato said the ownership change doesn't affect homeowners who own individual condo units in the resort.
“We will still manage their properties for them and assist them in any way we can with the upkeep of their units,” Darato said.
The rental program will remain the same for now, Darato said. About 150 resort condos are available by reservation for nightly lodging, according to a release on the ownership change.
The MonteLago Village Resort is a three-acre shopping, dining, resort and condo development on the waterfront of Lake Las Vegas.
Casino MonteLago, which closed last month, is a separate entity of the MonteLago Village Resort. The casino was owned by CIRI Lakeside Gaming Investors LLC and was leased through Village Hospitality LLC, which is an arm of Deutsche Bank. Village Hospitality also owns the Ritz-Carlton Lake Las Vegas, which will close May 2. Loews Lake Las Vegas, the other resort in Lake Las Vegas, is owned and operated by the New York-based Loews Hotels.
In addition to the hotels, restaurants and shops, the 3,600-acre Lake Las Vegas development, located about 17 miles from the Strip, includes more than 1,700 residential units. The development is owned by the Atalon Group and is currently in bankruptcy.
AHAHAHA! There people go, commenting on things they know NOTHING about.
This is actually a good thing for us condo-hotel owners. If you recall during the Olympics, Intrawest,who currently operates the hospitality services (reservations/cleaning)for the owners of the Viera and Luna Condo-hotel owners was having financial difficulties. While the article doesn't mention it, Intrawest is simply selling off assets right now. Not just in LLV, but everywhere in the country. Their contract with Viera and Luna to make resevations and maid service was sold.
Aston Resort property is simply replacing the hospitality portion of the Condo-hotels that is currently being provided to the owners (like me) by Intrawest. The hotel guests will likely not even know a change of property mgt occurred. Aston does not own Viera or Luna, individuals do.
This is no different than an HOA association changing their property manager or their lawn service. It's a change in maid service and reservations, nothing else.
Aston Hotel and Resort manages some great properties in Hawaii. 25 properties in Hawaii and 2 on the mainlain. Their quality of management is equal to or greater than Intrawest. Aston generally offers airport shuttles to and from the village, which is a great thing!!!
So, smarterthanyou, apparently you are not. This has no negative affect on property values.
Just amazing me how people can take a news story about a property manager changing and make it negative.
FYI!!!! Amanda, your facts are misleading. Your tone in this article is that Pacific Capital actually bought the lodging ie: Viera and Luna buildings. They did not. Only the hospitality contract.
As stated above, with regard to the hotel lodging at Montelago Village/Viera and Luna, they are still owned by inviduals as before. Pacific Capital bought the Intrawest Hospitality Contract to make reservations and cleaning for the hotel-condos and nothing more. After purchasing this contract from Intrawest, they appointed Aston to manage that contract for them.
We're talking comparisons between Intrawest and Aston. I have read the reviews on trip advisor and travelocity. All are very positive 4/5 stars!
My world is crumbling? Please....
This change isn't even newsworthy.
Aston Hotels is a good move as they are specialists in renting condo hotels to individual visitors, especially in Hawaii. They certainly have the data bases, and over 28 properties and have marketing in place. This can only be a positive for Lake Las Vegas, and I would not equate their properties to Days Inn or Red Roof motels.
@NotAsSmartAsHeThinksHeIs -
Out of 26 resorts on tripadvisor, Aston properties got an average recommendation rating of 82%. On the same site, MonteLago Village is currently at 84%. Sounds pretty apples-to-apples to me.
I'm not saying it's an amazing blessing from above, but the new operator is not Motel 6.
Unnecessary drama.
Here's Aston's website: http://www.astonhotels.com/
Some news seems to attract the negative posters who attempt to be happy by making others unhappy.
Comment removed by moderator. Language.
This is a real head-scratcher. Aston is a decent provider of mid price hotels in Hawaii-stayed there many times. Why they would want to get involved in LLV is curious. Especially since they got not only the short term rentals, but the moribund shopping places, too.
But let's give Bouvier and Blondie credit.
B & B = 1
Naysayers = 0
But we have a long way to go in the saga of LLV. First of the 3rd inning. As I said a while back, when I see the casino reopen, that will be a home run. Bouvier and Blondie rounding the bases with her Guido close behind her behind. Will be fun...
SmarterThanYou & Bouvier :
I just want you two to know that you have been providing me with much comic relief throughout this sad story. I just want bouvier to know that I am very sorry for the difficulties you are experiencing out there of late, and hope that things turn around soon..SmarterThanYou : Give 'em a break will ya?
We have family coming in for my daughter's graduation. I'm going to check out their resort packages. My family would like it out there.
Yeah, that is really going to suck to have Ashton out there. . .if Aston operates hotels in Lake Tahoe, Idaho and that God-forsaken Hawaii. . . I'm sure they are just awful! To the ever-so-negative folks that probably haven't been to LLV in years, I was out at the lake last night watching the Journey tribute band (I know. . .it was not bad though) and I looked completely through the village at all the shops. There are only 2 vacant shops in the whole village, which includes 6 fully functioning and busy restaurants, one of which we were on a 30 minute wait to get a table!
Very delusional to expect an instant mash potatoes version of Beverly Hills or Newport Beach to grow in the desert oven.
I stayed at an Aston Property on Maui a few years ago. I gotta say, it was a pretty nice place. Based on my experience with them, I think they will be fine for the Montelago Village resort.
old bouvier still seems happy as a clam.
I was looking at buying in Lake Las Vegas until I learned of all the hotel, golf and casino closings. Is it possible that the man made lake is next? I mean who pays for filling it with water etc. Is this a shared HOA cost? What is the current population and how many vacant homes?
Some people will never be happy - regardless if someone buys something, manages something or even approves on what was. Seems most of you love sitting in your living room chair, suckin' on a beer cause you are out of work and just want to write SH*T that you know nothing about, either because you have never BEEN to LLV and FOR SURE don't live there...Good commentary is just that - good commentary..when you get your facts in a row and want to write something intellegent, then more power to you. But to sit here and Bash ASHTON, when I'll bet only 1 of you have ever stayed at their facilities, then put your money where your mouth is and participate in real life - not arm chair quarter backing. If you were all so smart at what you say you know about, you would own your own business and not worry where your next pay check was coming from. There's a handleful of intellegence on this board and DAVIDM and Bouvier are 2 of them.
God, get a life !!!
Lake Las Vegas has exited bankruptcy, with no debt and nearly $30 million in hand to re-invest into the community.
The plan is solid and will allow Lake Las Vegas to move forward and prosper. The owner/ developer will continue to pay for the master HOA dues (for the lake) until the houses are built. This means, the cost won't be passed on to the current homeowners.
I would like to ask DavidM and Bouvier (and any other home/condo owners there) to please give me some info regarding condos at LLV. You can either post here or contact me privately. It seems that you are both residents there and I would like an accurate overview, to the best of your knowledge, about the condos there. I will possibly relocate next summer and am interested in the LLV area. If possible I would like some general info regarding the types of condos there - it seems that maybe there are "regular" condos and some that are associated with a hotel but I admit I don't know the difference. I would purchase this for my primary residence, so any wisdom you could provide would be much appreciated. One of my concerns is the HOA fees and the financial stability of the HOA organizations themselves. I am not a golfer but the amenities that would interest me would be the lake view itself from the units, pool, gym, and possibly a club house. Thanks so much to anyone who replies.