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Update – Prestige Travel Loses Bankruptcy Ruling

November 7, 2012 By: Adam Leposa

gavelPrestige Travel Inc. suffered a setback in bankruptcy court when U.S. Bankruptcy Court Judge Bruce Markell ruled against the company’s request for a temporary restraining order to force hotels and resorts to use money from letters of credit to cover future guests who had booked through the company, the Las Vegas Review-Journal reports.

The move could threaten bookings customers had made through Prestige’s online subsidiary, TripRes. Already Prestige clients have been forced by hotels to pay for their room again.

Nile Leatham, an attorney for MGM Resorts International, told the Las Vegas Review-Journal that MGM has decided to honor reservations booked through TripRes provided that travelers make a second payment at a discounted price. MGM is Prestige’s largest creditor.

In another report from the Las Vegas Review-Journal, President of and head of Prestige Travel Leo Falkensammer had blamed the bankruptcy on the challenges the company’s online division faced competing with direct booking through Vegas hotel and resort websites, as well as an overall slow economy.

Previously, producers of smaller shows on the Las Vegas Strip had worried that the bankruptcy could mean lost revenue from customers who had booked through TripRes, which could threaten the viability of smaller shows on the Strip.

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About the Author

Adam Leposa
Adam Leposa is the Online Managing Editor of He has worked as an Editorial Associate in the Children's Division of Simon & Schuster. He is a graduate of...

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By Adam Leposa | November 7, 2012
Prestige Travel’s request for a temporary restraining order to force hotels to use letters of credit to cover future guests has been denied, the Las Vegas Review-Journal reports.
Filed under : USA-Las Vegas