Ritz-Carlton to Close Lake Las Vegas Resort

Citing the down economy and a decline in tourism, the Ritz-Carlton Hotel Co. announced last week that it will close on May 2 its five-diamond Ritz-Carlton Lake Las Vegas resort in Henderson, Nev.

The resort, which has 348 guest rooms and 39,000 square feet of indoor meeting space, opened in February 2003 and is located 17 miles from the Las Vegas Strip.

"It's nothing the hotel did," said Ritz-Carlton spokesperson Vivian Deuschl, according to Reuters. "It's a simple lack of business and a decline in the tourism industry."

According to Deuschl, the decision to close the hotel was not Ritz-Carlton's, but rather Village Hospitality LLC, a division of the hotel's owner, Deutsche Bank, which acquired the property in a non-judicial foreclosure sale in February 2009.

"The unprecedented economic downturn has had a significant impact on the hotel's operations," said Deutsche Bank spokesperson Scott Helfman. "As a result, Village Hospitality LLC concluded that continuing to fund operations was no longer economically viable and consequently decided to close the hotel."

The Ritz-Carlton Lake Las Vegas employs approximately 350 people, some of whom may be relocated to other Ritz-Carlton properties or other Las Vegas hotels, according to Deuschl.