Foreclosure looms for Ritz-Carlton

O'Reiley, Tim
January 2009
Las Vegas Business Press (10712186);1/19/2009, Vol. 26 Issue 3, p14
The article reports on the looming foreclosure for Ritz-Carlton Hotel at Lake Las Vegas in Nevada in February 2009. The hotel owes German American Capital Corp. $104.7 million and its owners filed for Chapter 11 protection before German American was set to foreclose on April 1, 2008. Based on court documents, the hotel posted a $1.4 million operating loss on $30.4 million in revenues, excluding any debt service payments.


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