Village Hospitality, L.L.C. has purchased The Ritz-Carlton, Lake Las Vegas, he 349-room resort and spa located 17 miles from the Las Vegas Strip. The prior owner of the resort sought reorganization in April 2008, and the acquisition by Village Hospitality concludes a 10-month bankruptcy period, with the transaction closing last month. The new owners assure business continues uninterrupted at the resort.
“The Ritz-Carlton, Lake Las Vegas is an extraordinary acquisition for Village Hospitality, and the new relationship with the hotel’s management team is extremely positive,” said Michelle Russo of hotelAVE, the Providence-based asset manager for Village Hospitality, L.L.C. “No services were interrupted during this remarkable resort’s 10-month ownership reorganization period, and we look forward to seeing The Ritz-Carlton Lake Las Vegas continue to serve its guests with world-class service and superior facilities as we move forward with them on behalf of the property owner.”