No takers at proposed hotel auction

O'Reiley, Tim
August 2008
Las Vegas Business Press (10712186);8/25/2008, Vol. 25 Issue 34, pP16
The article reports that no bidder showed at the August 22, 2008 in-court auction of the Ritz-Carlton Hotel at Lake Las Vegas in Nevada. According to the article, the hotel filed for Chapter 11 bankruptcy with a documented court value of $133.9 million. Hotel representatives have testified that they have received biddings from $130 to $180 million before the filing of bankruptcy.


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