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The courtyard at the Ritz-Carlton Lake Las Vegas is shown just before the hotel closed its doors in May 2010.
Published Tuesday, Sept. 21, 2010 | 8:15 a.m.
Updated Tuesday, Sept. 21, 2010 | 5:19 p.m.
Sun Archives
- Lake Las Vegas, 350 workers say goodbye to Ritz-Carlton (5-2-2010)
- Part of MonteLago Village Resort at Lake Las Vegas gets new owner (4-16-2010)
- 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)
- Casino’s closure brings mixed outlooks on Lake Las Vegas (3-15-2010)
- 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)
Why in the worst local economy in memory would a company want to reopen the closed Ritz-Carlton hotel at Lake Las Vegas in Henderson?
The answer, says Dolce Hotels and Resorts CEO Steven A. Rudnitsky, is that the property represents a great opportunity for Dolce as the economy recovers.
That’s because the hotel is well-suited to Dolce’s main line of business: Accommodating business retreats, strategic planning meetings and other corporate-sponsored activities.
"We’re delighted and excited to be in Nevada and to be part of the Lake Las Vegas community," Rudnitsky said. “We look forward to managing our first Las Vegas property and working with the Lake Las Vegas community to help revitalize this charming destination.”
Dolce, pronounced dol-chey, today announced it’s entering the Southern Nevada market by reopening and rebranding the hotel 20 miles southeast of the Las Vegas Strip. Headquartered in Montvale, N.J., and Paris, Dolce said it was selected by hotel owner Village Hospitality LLC to manage the 349-room property that closed in May. The property, sitting on 15 acres, is due to reopen in the first quarter of 2011.
Dolce said it specializes in accommodating meetings, weddings and other “social event” experiences and in an interview Rudnitsky said corporate meetings make up 60 percent of the company’s business.
That may have given Dolce an edge among hotel operators competing for the hotel management contract, though Rudnitsky said Dolce also has a strong track record attracting transient leisure and business travelers -- those not part of group meetings.
“The Lake Las Vegas resort is a natural fit for Dolce’s portfolio, which focuses on properties situated just outside major metropolitan areas on sprawling grounds where guests can recharge and reconnect. A leader in the meetings industry, Dolce hosts approximately 30,000 events and 4 million group clients throughout its 27 properties in North America and Europe,” the company said in a statement.
Rudnitsky said the hotel will be a Dolce Hotel and Resort, but it’s actual new name has not yet been determined. It will likely hire at least a couple hundred employees, he said.
The property’s owner is looking for a casino operator to reopen the attached Casino MonteLago and Dolce won’t be involved in managing that part of the business, Rudnitsky said.
Dolce said the Lake Las Vegas resort can accommodate gatherings ranging in size from 10 to 1,000 attendees. It said it has advanced meeting space features including an 11,841-square-foot ballroom with 7,423 square feet of pre-function area, a smaller 4,700-square-foot junior ballroom and 10 function rooms that include two luxury ballrooms.
Dolce is majority-owned by Broadreach Capital Partners of Palo Alto, Calif. In the western United States, Dolce has hotels in Napa and San Jose, Calif., and in Aspen, Colo.
The resort is owned by Village Hospitality LLC, which is an arm of Deutsche Bank.
Village Hospitality LLC purchased the property in March 2009. The prior owner of The Ritz-Carlton Lake Las Vegas sought reorganization in April 2008 to stop foreclosure on a $103 million mortgage.
The hotel opened on Feb. 11, 2003. Before Village Hospitality purchased the property, Village Hotel Investors LLC had owned it since it opened.
About 350 employees lost their jobs when the Ritz-Carlton closed in May.
Casino MonteLago, which is attached to the resort through a walkway, closed in March. The casino’s owners said the closure was a direct result of the Ritz-Carlton’s announcement to close. The casino was owned by CIRI Lakeside Gaming Investors LLC and leased through Village Hospitality LLC.
Sun reporter Amanda Finnegan contributed to this report.
This is FANTASTIC news for Lake Las Vegas and the community as well as adding jobs!!!!!
Dolce Hotels are amazing!! They will be a better fit for LLV than the Ritz! They have properties in the US, France and Germany! I hope to stay at each and everyone of them. (check out their website, you'll want to stay at them too) Dolce also operates the American Airlines training center in Texas!
Dolce specializes and is VERY successful in large groups, weddings and conferences at their resorts. They will bring a constant flow of guests from all over the world to beautiful Lake Las Vegas and the surrounding area.
I read that the Casino Montelago will open by the end of the year as well.
I could not be happier about Dolce! I'm sure Bouvier is jumping up and down too!!!!
Welcome to Lake Las Vegas Dolce Hotels!!! Wishing you much success and thank you for choosing Lake Las Vegas!!!
Seems like all the recent news for LLV is fantastic (this story obviously included). It seems as though the dawn has begun on this amazing community, so congrats to LLV for working through some very tough times.
Dolce seems like a great fit, based upon their press release & their web site: very boutique, very high-service, very low-key, only a 20-min drive to the Strip. The perfect solution for businesses who want to meet in Vegas.
I wish Dolce had released the opening date so that I could book a room for my parents at the premier weekend. As soon as it's announced, I will get an appointment at the AMAZING spa (my opinion: best in Vegas).
To DavidM64: I will bet a weeks pay that you are on the payroll of Dolce Hotels.
Great news! (Even better, the comments section is not yet sullied by the always-negative armchair "economists" and "hospitality execs" who post here.)
And ... A cynic beat me to the "post comment" button. Ah, well.
BLOND: 20 minute drive from the strip? I take it you haven't been there lately with all the road construction, try an hour, minimum.
Hey Seven -
I'm actually in LLV 5+ days a week. You're right, the construction STINKS right now, but that'll be complete by the end of Fall and Dolce's not opening until Q1 2010. Once complete, the commute will be much faster than it used to be since the roads are basically being doubled in size. Can't wait for it to be done!
Correction: Q1 2011
I live in LLV. Work near the strip. 25min drive in the morning commute, 20min back. No big deal. With Construction.
I certainly hope people will find any reason to visit LV and spend money. It certainly means that LLV isn't going to look like a ghost town just yet with some new blood/money coming in. Let's hope they can do a better job of attracting visitors.
These optimistic press releases and comments remind me of the excitement generated when LLV was first opened. I thought then that the Ritz was the best fit based on its name, experience, and public acceptance. I fail to see how the Dolce will be able to bring in visitors when the Ritz could not. What has changed that will enable LLV to thrive (as opposed to survive). Will the golf courses reopen? Will locals patronize the area establishments? Will visitors make the trek from the strip to LLV? Hopefully the Dolce sees something the Ritz did not because it's a shame to see LLV a skeleton of what it can be.
This is such wonderful news, not just for LLV, but for those who want the economy in the entire community to improve. LLV is a beautiful property and should be enjoyed by more than just the people who live there. I agree that Dolce will be a better fit than the Ritz and they should be extremely successful. I can't wait to for it to open and to once again relax on their beautiful deck when I'm in Las Vegas, looking out on the lake. For those of you who are so negative about LLV, I am sorry that you find joy in someone else's problems. So sad!
@Kash, funny. I am not in the hotel industry, just a local resident and I travel alot. I wanted to convey my fact based experience with Dolce to everyone.
@Olygene, the difference between Dolce and the Ritz is that Dolce specializes and focuses on the large groups and less on the individual traveler. The Ritz was also competing with the strip hotels. (By the way, the Ritz had to cancel 32 weddings this past summer) Dolce will have its own nich market, which is not the strip goers. There is more to life in Nevada than the strip. (Thank goodness) If you read their press release, it says that ALL of their resorts are outside the city hubs.. (ie LLV) This is their market, this is what they do. Apparently their formula works.
I read another Dolce article that stated the Casino will be re-opened by years end. (3 months) Also, if you review the Dolce website, nearly all of their properties have golf courses attached to them. I'm sure that the Falls Golf Course and the casino opened is part of the deal.
It is good to see all of the postive comments here, because this is a postive thing on so many levels.
I'm happy about this. LLV holds some wonderful memories for me and I hate to see that place go the way of what caused those memories. I always loved the Ritz! Any Ritz for that matter. Sounds like Dolce will do well at LLV.
Such a beautiful property! I hope this is the beginning of good things to come.
What about the Broker that helped push this deal through with Hospitality Ave. I met her on the property and personally seen her there almost daily working with the retail vendors making sure to keep the doors open and working along side of the Hotel chain. She continues to move the Casino operator forward and making sure the new hotel work closely with the restaurants and local retail vendors, something no one has done to this date. If not for julies committment to Lake Las Vegas, clearly it wouldnt be where it is today. Your my hero, thank you for your time and helping my wife and I by saving our residence as well. The rumor of Lake Las vegas is an Angel flew over Lake Las Vegas a year ago and she hasnt abanndoned us yet.
Really good news. I heard this rumor a couple of months ago, and hope it works out. Let's get the casino up and rolling, too.
Bouvier and the Blonde are jumping with joy. Good, about time LLV got some positive news, not just spin.
This is great news. Great to hear people will be employed again. Wishing LLV and the hotel great success.
Nice
This is extremely happy news, and anyone who thinks otherwise must be personally depressed for some totally extraneous reason. I'm specifically referring to you "gbigs". Your useless negative comment speaks volumes about your character. Thankfully you are not Canadian.
A big flop, its a good thing there arent a lot of other resorts in Las Vegas competing for large groups of people. People come to Las Vegas for the night life, the "strip" not to golf and relax. You want to golf and relax in a desert go to Scottsdale Arizona. The reason the Ritz and LLV failed initially is the same reason this will fail, to isolated from the real Las Vegas experience.
My wife and I are residents of Lake Las Vegas and we also own (3) shops in the Village at Lake Las Vegas. We are developing additional business's in the village based on the positive energy that we draw from the village everyday. Yes,even during the tough times we have been able to harness and enjoy the positive energy that Lake Las Vegas and the Village produces. In reading the comments so far they are mostly positive with a few people that inject negative overtones. Everyone is entitled to their own opinions so no need to attack the negative ones. I only hope that their negative comments do not reflect their overall feeling about life in general(that would be sad). Here is my input! Lake Las Vegas is a unique destination, it is a place to come and refuel, refresh, and rethink your lives. A place that you can rebuild the pieces of your lives that may be out of sync. Come to Lake Las Vegas (even if it takes you a few extra minutes because of construction)only this time instead of looking at the negatives; the temporary closed casino, the quite streets and the closed hotel (so stay at the Loews or Monte Lago Village Resort they are excellent places to stay on property) turn YOUR thoughts to the positive feelings that you can draw from the experience. Lake Las Vegas is a symbol of recovery. America went through a devastating time; lost jobs, lost houses and lost hope.A new beginning is on the horizon, a beautiful Lake, a great place to walk around and refuel your soul and spirit, with great restaurants, shops and paddle boarding fun all in the village at Lake Las Vegas.
Sit on the grassy hillside and be thankful for the positive things in your life. See the revival of Lake Las Vegas as a sign of revival for all of us. The hotel and casino, the golf courses will all open offering much needed jobs. The visiting groups will come back to the lake and the streets will fill with smiles and positive energy. Come be part of it, If the streets are empty consider it a temporary gift that we; "reserved the village just for you". But enjoy it now because soon you will have lot's of company all trying to refuel their lives from the positive energy that Lake Las Vegas provides. See you there!
P.S. When you leave; take the feeling with you and spread it around, you are always welcome back to refuel again soon.
@FromBellevilleCanada:
Please, don't feed the troll.
Once the road construction is done, and this place is re-opened, we'll visit it again.
@lakelasvegas1- Well said.
VegasVic: The negative people don't live in Vegas, they are most likely out-of-state or country folks that lost a bunch of $$$ here.
Warning: Negative comment:
Maybe they should rebranded it as a Motel 6 and try penny ante.
As long as locals can afford it and are not standing outside like peasants looking in.
A business new model for the Vegas area. I don't know if they will succeed, but the town needs new business models and some innovation.
Some decent news for a change.
That is one beautiful hotel and I hope they are successful.
Welcome Dolce! I am a resident of Lake Las Vegas. Thank you for having faith in our beautiful community.
We shall see...Best of luck LLV in the meantime..
By the way - bravo LakeLasVegas-1! Thanks for not giving up.
The reopening will create jobs, but don't count on them paying the same as the previous company. Not being negative, just realistic. One would have to ask... if the previous company could have reduced it's payroll to what the new owners will be paying, would they have closed?
In this NEW ECONOMY... new jobs mean less paying jobs. Say good bye to the middle class.
Most of the credit needs to go out to julie barbagallo. She is the broker who has worked tirlessly to get this opportunity on board and all i see is thank yous and news media getting pieces of information. her company Commercial West Brokers has been dedicated to this effort from the beginning as she is also putting the Casino operator as we speak. pacific capital management is working on bringing her to the Villages to help secure more retail vendors as well. her clint is Chef bernard of Bernards Bistro as well as Sue with the Rock Mtn Chocolate Factory. Why cant you be less negative and more thankful to the real hero here. My wife and i live out close to the Angelils and persoanlly met Julie while on a visit to the Lake with the Dolce team, her efforts have saved many homes as well as created many jobs. You will find her here almost daily helping on her own dime. Thank you again Julie not only are you bernards angel your ours as well.
How much is a condo running out there these days? Can anyone tell me how much the HOA dues are? Thanks in advance.
Oh and congratulations LLV residents. I wish you the best of luck. I think I will go visit, maybe stay a night at Lowe's and patronize the shops.
Oh well. We'll just pretend shills don't exist and give the over-the-top enthusiasm the benefit of the doubt. I do notice though, that many of the above ringing endorsements were made with brand spanking new accounts (Sept. 21).
Meanwhile, the man-made lake in the desert ain't no Aspen, Colorado or Napa Valley. I suppose if Dolce got the property cheaply enough, this "could" work. But don't hold your breath, gang. LLV is a cheesy, artificial contrivance in the middle of nowhere. People want to come to Vegas to be around the action, not said cheesy, artificial contrivance in the middle of nowhere. As another poster already stated, their are far better options for corporate retreats, if that's the market Dolce thinks they are going after.
The real upshot of this story is that holders of Dolce equity, should get out now. Dolce is going in over it's head with its investor's money, using the previous decade's discredited playbook.
VIVA LAS VEGAS!!!! Looking forward to spring when we move to LV.
great news!! we love the place and like others, many fond memories have been enjoyed there...I hope it works out !!
Good news! I miss making my football bets at their casino.
Regarding the Ritz Carlton brand:
1) 0 (yep, z-e-r-o) Ritz Carltons are able to pay the interest payments on their loans right now.
2) The Ritz Lake Las Vegas was a franchise (as most RCs are), and the franchise fees were estimated to be at least $4M per year (right off the top).
3) No one can argue that Ritz Carltons are not beautiful. And, I'm a local who never once was made to feel like I was too low-brow to patronize the Ritz LLV. But, their business has chosen not to adapt its model in the tough economic climate of the past +/-3 years. Just last week (!!!) the Ritz Carlton corp announced that it was introducing a rewards program for frequent patrons. Are you kidding me? In 2010? Why wasn't this done in 2003? I don't care about the stereotypes, even rich people like to get a good value.
Moral of the story: Sure, Lake Las Vegas is going through some tough enough times, but the Ritz caused its own demise out there. And, it certainly looks like many more RCs are going to have to follow suit.
Dolce is a different animal altogether. It has a ton of working capital and a very strong business model that has proven itself over and over again in climates very similar to Lake Las Vegas. Dolce doesn't want to be on the Strip (and, many of Dolce's clients don't want to be on the Strip, either). There is a reason it announced its reopening 6 months in advance - they want the place to be booked heartily once it opens. And, they'll get it done.
At least the hotel will have been purchased at a price that will enable them to make a profit with lower room and occupancy rates. The company may also be able to wrangle additional savings from the employees.
@Fogcity, Dolce didn't buy the property. They will just manage it for Deutsche Bank/Village Hospitality.
I was going to mention the same things the BlondeGV stated. Especially the fact that The Ritz brand is actually realizing they need to make changes and is offering frequent points award system. In addition, you will see many of the Ritz Hotels become/re-branded to a new Marriott Brand called "Edition", which will be positioned above the JW's and below the current Ritz. I think Marriott is realizing the need to adapt and change, which they never did @ LLV. A little known fact about the Casino Montelago was that their lease with Deutsche Bank expired on 9/8/2010. They had to be out whether they wanted to or not.
Boyd, thanks for the informative post about and a big thanks to Julie!
"Dolce didn't buy the property. They will just manage it..."
Alright. Time for me to admit I was wrong, then. While I still think the LLV proposition is an uphill battle, the interested parties are only doing what they can to move forward. And that Dolce is merely coming in as the management company hired to try and make a go of it, makes all the difference in the world. Mea culpa for not digesting what was clearly written in the above story.
Knock yourselves out, folks. If you can pull this off, all the more power to you.