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Published Monday, Feb. 8, 2010 | 3:18 p.m.
Updated Monday, Feb. 8, 2010 | 4:52 p.m.
Ritz-Carlton at Lake Las Vegas
Sun Coverage
UPDATED STORY: Closing of Ritz-Carlton at Lake Las Vegas raises concerns of ripple effect
The Ritz-Carlton Lake Las Vegas in Henderson will close its doors May 2.
"Our owners, Village Hospitality, decided they could no longer fund the hotel," Ritz-Carlton spokeswoman Vivian Deuschl told the Sun. "As a result of that, we can no longer operate the hotel without adequate funding."
About 350 employees will be out of work as a result of the closure, but Deuschl said efforts are being made to relocate them to other Ritz-Carltons, Marriotts and other hotels in the Las Vegas Valley.
The Ritz-Carlton Hotel Company is an independently operated division of Marriott International.
The hotel will remain fully operational until the May closing date. Employees at the hotel were informed of the closure today.
“We have asked them to stay on until we can serve our last guest in the type of manner that a AAA Five Diamond hotel is expected to deliver," Deuschl said. "While they are obviously sad, they took the news with a commitment to continue to serve guests until the last day and we are very proud of them."
Individual travelers and groups who have booked past May 2 are being notified. The Ritz-Carlton is working with them to relocate their business to other hotels.
The resort is owned by Village Hospitality LLC, which is an arm of Deutsche Bank.
Village Hospitality LLC purchased the property last year. The prior owner of The Ritz-Carlton Lake Las Vegas sought reorganization in April 2008 to stop foreclosure on a $103 million mortgage.
The 15-acre, 348-room luxury hotel opened on Feb. 11, 2003. Before Village Hospitality purchased the property, Village Hotel Investors LLC had owned it since it opened.
Deuschl said she was unaware of Village Hospitality’s future plans for the building.
“It is a very sad day for us,” Deuschl said. “It’s a sad reality of the economic decline in travel and tourism and especially of the disproportionate impact it’s had on the Las Vegas area.”
It is unknown how much money the resort is losing.
The Lake Las Vegas hotel received a AAA Five Diamond Award in November.
“When the economy was good, this hotel was an extremely popular destination resort," Deuschl said. "It’s been one of the real jewels in the crown of the company for us."
The 3,600-acre Lake Las Vegas, a development 20 miles southeast of the Las Vegas Strip, includes more than 1,600 residential units, luxury hotels and a casino. Lake Las Vegas is now in bankruptcy, burdened with $728 million in liabilities amid the worst real estate downturn in memory.
that far away place to stay then drive to the strip lucky it last this long
build a monorail to the strip.
Lake Las Vegas. Meet Lake Mead. So happy to have your three billion gallons of water.
Slurp. Slurp.
Blame it on Obama. It couldn't have been outrageous prices, bad management, too top heavy with debt, or location, location, location.
Yup - clearly a case of Obama's remarks about Las Bugsy.
This is unbelievable. Much worst then other closures. Bad news.
Oh, come on. Who's goofy-greedy plan was it to build a
5-star hotel A HALF-HOURS DRIVE from the Strip???
This place doesn't even have a Terribles name in front of it and it is going to close?
Lake Las Vegas is absolutely beautiful but I have no idea how any of the businesses there survive. Everytime I have been there it is like a ghost town. This will only make things worse.
Hey I can't wait for the opening Siegal Suites Lake Las Vegas..I wonder if I can still eat for free???
I wonder if the remaining rooms will be affordable?
I guess Lake Las Vegas is going to have the same fate as Lake Los Angeles in California..
Obama should be happy.
It means that people will have fewer places to blow their cash in Las Vegas.
I for one will miss the Ritz Carlton. It was the site of many fun and special moments for me.
It was a nice place to stay for locals away from the strip. It was like a little mini vacation. I hope at some point another high end Hotel opens it back up.
wow. lake las vegas really is turning into a ghost town.
It's too bad because this resort could have been successful if it had not been created to such a high end clientele. Make it more middle of the road, add an amusment park, and you got Disney Lake Las Vegas! Anyone listening?
There seems to be no end to the economic fallout.
... Hope MAYOR GOODMAN'S got-a-PIECE of THIS action!!!
Deutsche Bank really hit the jackpot in Clark County!
"Lake" Las Vegas ... a backwater created with effluent, it's gold, how could it possibly fail?
My guess is that it gets re-branded and re-opened to a Marriott or something similar. It's a beautiful property. Too nice to go to waste. High end just isn't in demand. A mid-priced family hotel would a better fit. High end hotels are closing all over the country.
I read on the DowJones website that Lake Las Vegas will be exiting bankruptcy in April 2010 and rumors that either the Falls or Reflection Bay will re-open in April as well.
At least this will keep people from coming to Las Vegas and blow their cash. Oops.. it closed because they already did.
Maybe harry and barry can make a tourism ad for the area.
Let's not forget that the city of Henderson poured 33 million large into LLV. Remember 2 months ago, when they had a secret closed door meeting to talk about this disaster? Obviously, it was a CYA meeting. Remember when the City attorney said in 2008 that "We'll never lose a dime on LLV"? She was run off in March 2009. God, how do we find and elect these boobs?
The sad thing is that the employees of the Ritz, as well as Casino Monte Lago next door, which should be folding soon, will be in economic peril shortly. Very nice people. How will they get another job in this economy?
But at least Bouvier will be happily sitting in his K-Mart lawn chair on his condo porch.
Dipstick and retiredyoungster, there is nothing better than a view of an empty lake inlet on a Summer evening. Right?
My youngest was coming out for the Wells Fargo Convention before Obama jabbed the City and the Convention cancelled. Most of them were to stay out at the Ritz. Very sad. Lake Las Vegas is beautiful.
It's interesting that the Ritz has provided nearly 3 months notice instead of just ceasing operations immediately. This does make you wonder if another of the Marriott products will be stepping in?
DavidM64, I think the 3 months notice is simply covering the requirement to give your employees adequate notification of a layoff. I forget the actual law, but I think it's a federal requirement.
The Loew's hotel down the street has 40% occupancy during the week. No way Ritz will reopen unless it's pennies on the dollar. Plus remember, it's closing in the Spring. That's because it's so hot in Vegas in the summer, the only people who go to LLV stay indoors. Who wants to golf in 112 degree weather? I'd be surprised if either of the golf courses opens again. Golf courses are folding here all the time, plus expensive water is in short supply, even the "partially treated like Pat Mulroy stuff".
Very sad situation.
how's that hopey - changey thing workin' out for ya?
An airport ride to Lake Las Vegas is expensive and long...a ride to the Strip and back to Lake Las Vegas is also expensive and a long way. Perhaps this development should never have been; but, it did and will be sold off at a huge discount to another significant hotel chain. Just maybe Marriott which owns the Ritz Carlton brand anyway. Let's hope for the best as our community does not need another failure in the visitor industry. Another sad story. We need the jobs...the answer is in the jobs.
If the HOA fees weren't $400 to $500 a month the place would probably recover, though with less Palm trees and grass.
all politics aside...folks, short sell your homes (unless you bought pre-2002, you'll never get your equity back to pay off that loan), finish out your leases, and get out of this town.
it's just going to get worse and worse before it ever gets better.
also...this place was really not designed or marketed as a "vegas, baby" place. so the location relative to the strip wasn't its downfall. not many people that stayed here were in a hurry to get to rumjungle at mandalay bay.
It's a dream world within a dream world, and too far away from the regular masses. It was questionable to survive from Day 1, and finally the owners had to fold the hand. This place might be used for the homeless instead of having it sit their as a ghost casino. Eventually some kids will use it as their adventuredome in the future.
What an example of total irresponsibility to the water issues of Las Vegas and the Southwest that this development was ever allowed to be built.
don't worry boyd or harrahs will by it in bankruptcy for next to nothing and make a 2-5 dollar joint.
A fabulous hotel..my fiancee and I got engaged there and spent many a night at the bar having drinks, listening to music, and we live around the courner...Its a shame what Creidit Suisse has done to the finances..
Where is Sarah Palin when you need her? This is all Harry Reid and Nancy Pelosi's fault.
Another joint that catered to rich people the never materialized and don't even exist anymore. The developers cashed out long ago and most of you idiots blame politicians? Someone will have to inform you when someone trips the final flush.
Catered to rich people? I think not. My husband & I, middle class family, went out there and it was not pricey at all. Some people are too quick to judge a book by its cover.
It's such a shame to see yet another business closing and our unemployment line getting longer.
Where is Sarah Palin?
She wasn't able to find the Ritz-Carlton because there were too many directions to the place and she couldn't write them all down in the palm of her hand.
/i really needed to tighten that one up.
People keep forgetting,,,That the never ending dream of Vegas is over..Its not any one persons fault it was all of us in the end that caused this and it is far from over Lake Las Vegas is just one more chapter of this F.Scott Fitzgearld story that is the current day Vegas...The 20's were the late 90's n early 2000's..The late 2000's to 10's are our "Great Depression"enjoy the ride it ain't over yet not by a long shot.
Turn it into a homeless shelter.
There is always a need for free, or next to free, good cheap hotel rooms!
Waste not, want not...
how's that rich crowd workin for ya vegas.
I hit a 4000 dollar Royal at the old Marriott Hotel casino and they paid me and hauled the machine out right in front of me. I asked them why and they said it wasn't operating properly.
It was and always has been terrible marketing for the whole lake las vegas project. Hard to find, signage is and was terrible, signage when your there is bad, parking is good but hard to find. Marketing, marketing, marketing, something they didnt do, didnt do, didnt do.....
How's that greedy overdevelopment thing workin for ya? Everyone who didn't live here prior to 1989 should pack up and leave! Then we get our city back..
It's a shame to lose another valuable property in LLV. The Ritz Carlton is the creme of the hotel crop (5 star diamond rating), and the owners choose to throw in the towel anyways. Sounds like all the deadbeat Las Vegas homeowners who just do strategic foreclosures because they are "unhappy" with their properties. Well times are tough for sure, and Obama isn't the chosen savior for everyone as it turns out. The question now arises, what will happen to the land and assets in the future? They can't just implode this beautiful building like all the old Casinos on the strip can they? If the owners are reading this, please let us know what you will do....I will buy it for $20,000 if you don't make me pay any HOA dues..
The political comments in here are nuts... Hundreds if not close to a 1000 locals will probably lose their jobs with the loss of the Ritz. Casino Monte Lago as well as the other business/restaurants in the village will probably be close right behind.
Get over yourselves and your personal agendas, and have some sympathy for these people.
Reid, Pelosi and Obama have been working hard.....HARD....on getting Obamacare passed and they are still focusing on that.
They do not have time to worry about trivial things like the economy or jobs.
Once again the "Dave Ramsey Radio Show" has caused another business to go under. He says people should be debt-free, including the mortgage. Obviously people are not going to go way out there.
When it first opened, they had this arrogant guy from Texas, who treated people like garbage, running the sales force. He forgot the premise, that everyone is a potential customer. Realtors, direct their clients elsewhere when they are treated badly. Also, the long term future of the lake was often in question.
Maybe the water district should buy out the development, houses and all, and use the water reserve. It would be cheaper than the pipeline.
SgtCrock..Yes, and they should be working hard on health care. We pay DOUBLE what other industrialized nations pay and get WORSE health car..Oh, and premiums are going up!
i can't believe i'm actually typing this but well said sergio!
Yeah no kidding huh? Sergio hit the nail right on the head this time...
I too agree with Sergio that the Ritz will be re-branded to another moderate brand. You just can't make a profit providing Frette sheets and AAA 5 diamond service for $149.00 a night. I read that several other high end hotels are going to close or temporarily closed, including the Ritz in NYC and San Fran. This is problem everywhere, not just Lake Las Vegas/Nevada.
There is a online 2/9/10 Businessweek article that Lake Las Vegas is emerging from Bankruptcy on April 13, 2010. The plan looks good for the community. It's curious that the media has not reported on that. Then again, not surprising, as something positive is not newsworthy.
I was out at Lake Las Vegas a few weeks ago on a sunny Sunday afternoon. All of the outdoor restaurant seats were filled, including the new restaurant where the old Como's was. The ice skating rink was busy and people were milling about. People are still going to the village. It is a pretty place.
Maybe Reid and Napolitano could ask Obama to have the government buy it to house illegals. Afterall, our joke of a Homeland Security Director proposed the idea of housing illegals in hotels. The way Obama is spending taxpayer money he'll probably go for it.
It is unlikely that the Lake Las Vegas will fold.
From my experience the debt load on golf courses and hotels will be dramatically reduced and it could do well in the future. I took advantage of the uncertainity and bought a home for 27% of its peak price.
It is magnificent and affordable. All of my HOA fees total $316/month. No cheap but you get a lot for the money.
A lot of the illegals (who probably built the Ritz and staffed it) have left. That is why much of the housing market tanked.
Illegals are leaving? Well then, we do have a positive out of all this mess. I am not so sure tho, as it still stinks over here in East Las Vegas.
Sad to see a place that nice and well done - go out the door... sucks... Why go to Lake LV anymore? It was nice to sit outside with the fire pit in the courtyard and enjoy a drink under the stars... Not anymore I guess...
I remember going out there in 1998 when most of it was still under construction...thought the site was beautiful.
I am going to a conference there about 10 days before they close.
I am sure someone will step in and take it over. Way too much investment to let it become a set for "After People" on History Channel.
Obama should step in and make some section 8 ball joints out of that place, power to the peoples.
Sergio is saying some good things about this matter! I recall reading someone's comment about Lake Las Vegas being too hot go to there during the summer. I agree with Sergio, it's the best place to go! There is a lake with cool water to swim in! Loews has a great water park for kids (I too enjoyed the waterslide). I also just ran across an old LV SUN article stating that the "staycationers" flock to Lake Las Vegas during the summer.
The Ritz would be the perfect spot for a Marriott, JW Marriott or one of the family friendly properties. I also agree with a few of the other posters that there is too much money invested in such a pretty place for it not to succeed. Maybe not in the same direction as originally planned, but isn't that how life is?
There is an outstanding use for this facility and it is so obvious to Jeff Durbin who is running for the office of Clark County Commissioner for District F.
When he learned of this, the first thing he said, was with three golf courses on the grounds, this would make an excellent retiree community!!
He is absolutely right!
The place has restaurants on the grounds. Three golf courses.
Sell the rooms to the snowbirds from back east that go to Phoenix and Arizona every year!!
In Phoenix, they get more than 750,000 snowbirds who have bought duplexes and small one room trailers to stay in the nice climate here in the west, while they escape the cold back east!
These snowbirds as they are called in Arizona are retired individuals who have expendable income and as such can afford to buy these rooms as condo-styled home to go to in the winters of the east.
With three golf courses, restaurants, this would be ideal for these snowbirds. Also, in Arizona the snowbirds contract out regularly with bus companies to ferry the residents back and forth to the Indian casinos in Phoenix as well, as periodic trips to Mexico for them to buy their meds.
DURBIN realized this as soon as he read the story, that this is not something to walk away from but to build from!! While others saw this as a failure, he saw it as a new opportunity.
The employees would not be needed year round, regretfully, as the many owners of the new condos would head back east in the summer but it would need some housekeepers, and maintenance people throughout the year to maintain the grounds and there would be residents who would just as soon live there permanently versus going back and forth.
DURBIN is a visionary, while others on the Clark County Commission do not think ahead, since DURBIN served 23 years on active duty and several civilian jobs and owned a couple of businesses,he looks ahead not back and this would be a great opportunity for Del Webb who has many retirement communities in Arizona.
Let's use federal money (after all its a free gift from the future!) to turn it into a retirement home named after you know who, Maestro Harry Reid!
Sergio is right...The future is going to be not so bright..grab ur sombero
Where's Bouvier to spin this? LOL
Poor people
O man, I feel sorry for the people losing their jobs...
That is a very nice place though. Its sad that it would no longer be enjoyed by a lot more tourists.
This won't be the last place to shut its doors in Vegas.
When are the people of Nevada going to wake up and smell the coffee? You voted in a bunch of criminals, thieves, and liars into your government, and now you get what you wished for.
More handouts, less work, more section 8 housing, and soon more taxes. Can these people afford to stay at the Ritz? Most of the higher paid laborers, who pay taxes, and can afford a five star hotel, have long left that godforsaken desert and went where there are still jobs. Those big-wig casino hotshots have no one to answer to, so they keep their billions in profits, make their employees work harder for less money, fire those who stand up to them, and pay practically nothing back to the community that supports them. Icabod Crane should have never been allowed to purchase Fountainebleau unless he agreed to continue construction and put people back to work. Again, nice going City of Las Vegas! Free money to a billionaire....
No wonder Mr. Wynn loves Mr. Reid so much.....he's laughing while the rest of you are struggling to keep up your penny slot gambling addiction!
First of all, its in Henderson,not Las Vegas, so it should have never been called that to begin with. The City of Henderson provides all the services to the place,( police, fire, utilities,and water)to call it Lake las Vegas is an insult to Henderson. It was doomed from the beginning ,the lake water sinks something terrible and it looks terrible along the shores. The drive along Lake Mead Pkwy is ugly so the hosh posh people don't like to drive there. I can't believe people payed the price back in the day just build a home there. It will be a ghost town within a couple of years if they don't film another movie there.
The bottom line with this closing is sustainability
The same people the ritz was attracting,are the same people city center needs,and its not going to happen,,,,,EVER!
peace out
Fedup2here, FYI, the City of Henderson is currently creating a beautiful gateway to Lake Las Vegas and Lake Meade. The parkway is being widened and landscaping & bike paths will be added. Per the LV Sun article, it will be done in late 2010.
I do agree with you Lake Las Vegas should have been called something else. No matter what they call it, it is still a breathtaking place.
I think it's a good thing that the Ritz-Carlton is leaving. This is an excellent opportunity for another, less exclusive-minded brand to come in and make it work. It's a nice place, just overpriced.
I was at LLV today, and it was empty at the casino. The pit was closed, nobody was in the restaurant, 2 people at the bar including me, outside there were maybe 3 people. Yes, it was rainy, but Jeez, shouldn't there be at least a few people somewhere?
Many employees at the casino, my friends, are actually hoping it folds soon. No tips, nothing to do. I think you can collect U/I up to 99 weeks. Good...There are no jobs anywhere, and they face a tough recession/depression. Very, very sad....
These comments are the playground of the chronically under-employed.
Its too bad. Of course leave it to the flippin locals to make this place implode. Whats the matter Las Vegas, did they not serve enough booze for you? Its too bad , I had more fun hanging out there than I did at the Hairy Strip!
Unfortunately people from Henderson are partly to blame for such a beautiful place to go down. Im not from Henderson but yet I have been to this place many times, yes I have to drive 45 minutes to get to Lake Las Vegas but it was worth it, such a beautiful place but lacks patronage especially from the locals. Everytime I visit the place, it feels like a ghost town. Sad!! Someone will take over the Ritz and buy it for pennies on the dollar if not perhaps Marriott can re-brand and advertise it worldwide. Marriott certainly has the capabilities of marketing a mid-market property worldwide, they pretty much own properties in every corner of the world.
jbkayaker
You mention Marriot. I'm curious on how the JW Marriot is doing over at the Rampart. Every time I have been there, including that one restaurant in the hotel, it seemed to be doing quite well. It is a beautiful place where you forget you are in Vegas - until you go into the casino!!
RPJ and vegassucs
I find it amusing that people who do not LIVE in Las Vegas, Henderson or any other municipality in the area have things to say about something they know nothing about.
If you are not a tax paying citizen of the State of Nevada - your comments don't mean a thing.
Hilarious.
I've been in Las Vegas since 1966.
Now, what were you saying?
There is an irony to this. The Village at Lake Las Vegas is independent of the Ritz, unlike most shopping centers in the valley, it is 90% occupied, a new steak house opened there last week.
The Ritz never paid a dime into the Village association. The Village association, along with Viera and Luna associations, which are the condominium hotels, are financed by condo owners, and those associations have never been stronger, have never been in a better cash position. You may think this is putting a positive spin on the situation, but it's a fact.
If you are looking for a contrary buying opportunity, this is it, although it may be too late already, most of Viera, the condominiums up for sale from the original buyers, are already resold. The place is built like a fortress.
The lake infrastructure has just been refurbished for an additional 20 years of lifetime. As long as the lake is still there, so will the Village be and so will be the privately owned condo hotels around it.
Sure there have been cutbacks in entertainment, but every Friday and Saturday there will be entertainment, as usual, starting soon again in the spring and going through to late fall.
For us locals, it's business as usual, but it we will surely miss the ambience of the Ritz and our friends that worked there.
@det_munch
It seems to be doing alright. We go to the Rampart Casino and the adjacent Marriott. Rampart is being partonize by the people in the area. The coffee shop at Rampart has great food and great deals. $7.95 for appetizers, entree, dessert and your drink. You cant beat that. Rampart has a loyal clientele. The Irish Pub is good as well. Over at the Marriott they seem to be catering to a lot of people who are into golf. Nice resort really. It also has a coffee shop overlooking a nice garden and pond but only open on a limited time and not all day. Suncoast is doing alright as well.
Lake Las Vegas is really going to get into trouble when Tivoli Village across from Suncoast and the Marriott opens up. It is going to have restaurants, bars and office space together with condo units. Work is ongoing once again and it looks like it is going to be a nice place, I hear it will be open later part of this year.
Another place that I frequent is Town Square Las Vegas which is even more livelier than Lake Las Vegas and worth the short 15 minute drive from home. Goodluck with Lake Las Vegas!!
"TESTER" basically said everything I would have to say in a nutshell. Thank you for your informative and FACTUAL post. ( I know people have been waiting for my response to this)
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All of the readers need to know that several of the posters here are the same person under different aliases. Most importantly is that these posters say the same negative things in every post they make on any and all topics. They will argue that the sky is NOT blue, when in fact it is BLUE! :) What is the point in attempting to have a reasonable debate in this forum, when none of the posters are reasonable?
I too just checked the MLS. There are only 3 active Viera listings. My rental condo remains active and it beautifully maintained and is an oasis in the desert. The thing is, Viera condo Assoc is a totally separate distinct entity from LLV and the village. It could be sitting in Summerlin or California. While the village is a nice thing to have, Lake Las Vegas development is not ALL about the village. It also has beautiful hill side neighborhoods with breathtaking views. It's like no where else. The bankruptcy will be over soon and within a few years, homes building will return. I actually saw homes being built in Bella Fiore recently. This is a good thing!
In case you haven't noticed, the City of Henderson is widening and landscaping Lake Mead Parkway to create a wonderful gateway to LLV.
Of course I do have to mention that Negnougat, who is also BDover who is also Benjamin Dover and I'm sure several other aliases loves to point out that on a rainy winter Tuesday mid-afternoon the casino in the village is slow. Well duh, of course it would be.
Tester, thank you again for your factual information. I'm still happy as a clam for my purchase and vacation get-away, which is making a profit.
I agree with changing the target audience to a middle of the road type crowd. Bring it down several notches to become more affordale for the middle class. Appeal to the summer or lake visitors. I also like the idea above regarding adding some sort of amusement to it. Kids enjoy the amusement, adults enjoy the rest. Could be a really good fit, and a way to utilize such a prime piece of property and area. Don't let it sit and become an eye sore. We need some type of amusement for our children, that's affordable.
A lot of the housing cruch was from immigration, legal, illegal, from out of the country and from in country. People are going back and aren't coming in the same numbers. Empty houses and empty businesses.
Open the lake to the public! Jet Ski competitions, Wake Boarding, all sorts of water sporting events! Turn it into a spring break destination - but it lasts all year around! Free party buses down to the strip, a little cheaper tables - Fun all the way around!
Fishing tournaments!
Make it the home for the World Series of Poker!
There are lots of things that could be done! Poor marketing! Really poor rules for the lake will lead to the entire village to also soon go away! Very Sad for the folks soon to be out of work!
@Ripit16
Exclusivity did not work out for this area, yes it would be nice open the lake for non-residents in the area. I for one would not mind to go kayaking at Lake Las Vegas.
Anyone can rent Kayaks @ Lake Las Vegas @ the Marina. You don't have be a resident to use the lake.
... and ripit.. I agree that the casino needs a poker room and tournaments.
^^^^I want to bring my own kayak, renting is not the same as opening the lake to the public.This way after kayaking or some form of recreational use of the lake, visitors can actually patronize the businesses in the area. If I am not mistaken I saw a sign a long time ago regarding the lake as pvt property. Lake Las Vegas businesses are definitely lacking patronage not only from the locals but visitors.
I just want to add, the amenities at Lake Las Vegas is better than Lake Mead so if they open the lake to the public it will definitely bring people to the area.
For all of you Lake Las Vegas-haters who think this is only affecting this isolated location, chew on this:
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"There isn't a Ritz-Carlton in the United States that's meeting its interest payments."
Source (3:30-3:50): http://www.foxbusiness.com/search-result...
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It is a very sad state of affairs for the Ritz-Carlton brand, but obviously there will be many more Ritz-Carlton casualties than just Lake Las Vegas.
Ritz-Carlton is in dire need of some big changes to its business model to be able to adapt. Those brands which can be most flexible right now will emerge from the recession stronger than before. Hopefully, a brand that recognizes this will fill the space at Lake Las Vegas where the Ritz-Carlton is now.
What a great place for a homeless shelter. Its out of the way and safe. It will clean up henderson and downtown. The rich can help them get jobs.