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Closing close for Ritz
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John Locher/LAS VEGAS REVIEW-JOURNAL
People dine outside Friday at the Ritz-Carlton Lake Las Vegas. The hotel will close this weekend, a casualty of the economic recession. » Buy this photo
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LAS VEGAS REVIEW-JOURNAL
Updated: May 3, 2010 | 8:52 p.m.
Marcus and Michelle Green of New York were enjoying their stay at the Ritz-Carlton Lake Las Vegas, sitting on a grassy hillside overlooking the lake, sipping a glass of wine on a sunny Friday afternoon.
It's a relaxed setting they prefer over the Strip.
They're among the last guests at the luxury hotel that's closing Sunday, a casualty of economic times that have made Lake Las Vegas look more like Lake Rhyolite. The resort community east of Henderson is mired in bankruptcy, its championship golf courses closed and centerpiece MonteLago Village virtually vacant.
Village Hospitality, owner of the Ritz-Carlton, filed for Chapter 11 bankruptcy in April 2008.
"It's a beautiful property," said Michelle Green, who was attending a conference of the National Employment Law Council at Ritz-Carlton. "The location, as far as the scenery, the landscape, it's just beautiful. It has an Italian-type flair about it."
The 349-room, $170 million Ritz-Carlton opened in February 2003, adding another piece of elegance to the 3,600-acre community with its yacht club, custom homes and 10 miles of shoreline.
"It's certainly a sad day for us because we were proud of that hotel and all the awards it won," Ritz-Carlton spokeswoman Vivian Deuschl said from Washington, D.C. "It was a triple-A, five-diamond hotel, the highest rating you can get, and at the height of the good economy, I think the whole concept of having a hotel away from the Strip worked very well. It offered the best of both worlds."
About 350 Ritz-Carlton employees will lose their jobs. Many of them have been hired by other hotels and those willing to leave Las Vegas have accepted transfers within the company, said Amy Moser-Harrison, director of sales and marketing at Ritz-Carlton Lake Las Vegas. She could not specify how many are transferring, nor would she allow interviews of employees.
Deuschl said Ritz-Carlton employees go through extensive training and that will help them find other jobs. Hotels were hiring them from the day the closing was announced, she said.
Shannon Stone traveled from Denver to attend her friend's wedding at Lake Las Vegas and was staying at the Ritz until Sunday. Then she's going to the Strip where she wants to see some shows.
"I think it's magnificent," she said of the hotel. "It's stunning. We were just talking about it closing. We were bummed. We were walking around the grounds and it's almost like you're in a different country, that Tuscan feel. I love that it doesn't have any slot machines."
The village's Casino MonteLago closed last year. A public notice posted on the door said all outstanding chips and tickets are redeemable at Skyline Casino on Boulder Highway for 120 days from March 17.
Deuschl said she hasn't been informed of owner Deutsche Bank's plans for the hotel property.
"It was unfortunate because we loved Lake Las Vegas and so did our guests," she said. "There was quite a vision for what that community would be, but nobody could have anticipated the way the economy impacted the luxury hotel business and Las Vegas in particular."
Marcus Green said the hotel would make a perfect Marriott property or time share.
"I could see someone who wants to have a residence here and enjoy the Strip, but not be on the Strip," he said. "Most people who come to Vegas want some access to the action."
The 493-room Loews Lake Las Vegas Resort, originally built in 1999 as the Hyatt Regency Lake Las Vegas, remains in operation. Also, the South Shore Golf Club has gone from being a private course to a public course to stay afloat.
Lake Las Vegas entered bankruptcy in 2008 after Santa Barbara, Calif.-based developer Transcontinental Corp. defaulted on a $540 million loan with Credit Suisse. The resort has lost more than $60 million since filing for bankruptcy.
Pacific Capital Investments of Roseville, Calif., bought the 51,000-square-foot MonteLago Village in July 2007 for more than $23 million. The boutique village is part of Intrawest Corp.'s $500 million development at Lake Las Vegas that includes the Viera and Luna di Lusso condo-hotels, Casino MonteLago and the Ritz-Carlton.
Contact reporter Hubble Smith at hsmith@reviewjournal.com or 702-383-0491.
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The water for Lake Las Vegas is purchased from the City of Henderson and is not pumped out of Lake Mead. The Lake is part of a water management program for the state, so it will always be there, like Lake Mead.
You can't just "shut the whole place down". There are many people who live in LLV in homes and condos. While the direction may be changing a bit in the current economy, LLV is still a residential neighborhood and many of the residents continue to frequent the village.
By the way, on Easter Sunday, there were over 1,600 easter egg hunt tickets sold. Add a few parents to each of those tickets and there was estimated to be over 5,000 people at LLV. The weekend concerts are a big draw and restaurants can have up to an hour wait on the weekend. The Irish pub is a blast on the weekend!!!
Lake Las Vegas exits bankruptcy next month with no debt, messes created by the developer untangled and 24 million dollars in hand to re-invest into the community. Pacific Capital also purchased land adjacent to the marina and Aston Hotel & Resorts was brought into manage the hotel-condos in the village for the individual owners.
With the bankruptcy behind them next month, the Lake Las Vegas development is turning the corner for the better.
Partially agree with "Over and Done with". While it may not be totally necessary to shut the place down, at least drain the lake. It takes approximately 1400 acre feet of water per year to replenish just what is lost to evaporation alone, and all of that water is pumped OUT of Mead into this sinkhole.
I agree with Bill, this article is inaccurate. Casino Montelago didn't close last year, it closed in March 2010, last month.
Village Hospitality, the arm of Deutsche Bank that currently owns the hotel and casino property didn't file bankruptcy in 2008. Duetche Bank foreclosed on the prior owner of the hotel property and created Village Hospitality Company to own it. It was Duetsche Bank that pulled the operational funds for the building.
Bill is also correct on the South Shore Golf Club. Not public, you still have to join, except for the LLV hotel guests at Montelago Village and the Loews.
The Henderson Mayor advised at a town hall meeting a few weeks ago that someone is currently in negotiations to purchase the hotel/casino property and it should be sold, re-branded and re-opened in short-order.
Lake Las Vegas is scheduled to exit bankrupty next month, with no debt and 24 million in hand. The golf courses have reached an agreement with the City for watering and the other tangles created by the original developer, who walked away with 500 million in an equity loan, will be untangled next month.
The article is correct that the Ritz is amazing and beautiful property. Last Monday, there was a wedding there at noon. So many brides felt that the Ritz Lake Las Vegas was the ONLY place to get married and a noon wedding on a Monday goes to prove that.
I certainly hope the mayor is correct and a new owner steps in without missing a beat. I want to continue my relaxing fireside chats in the garden with a cocktail amongst friends.
You guys with your comments missed the boat. Make it a firehouse.