Ritz at Northstar under new ownership
By Jason Hildago, Reno Gazette-Journal
The Ritz-Carlton, Lake Tahoe will end its court-appointed receivership later this month as the luxury resort gets new ownership.
The resort at mid-mountain at Northstar-at-Tahoe is scheduled to have its official ownership change on June 27, according to Steven Holt, Ritz-Carlton, Lake Tahoe public relations director.
The Ritz at Northstar is under new ownership. Photo/LTN file
Holt said the name of the resort’s new owner will also be announced on that date, and the property will continue to be managed under the Ritz-Carlton brand.
“The Ritz-Carlton never owned the property,” he said. “We’ve always been a management company.”
The new ownership marks the end of a rocky period in the new resort’s history, which was at risk for foreclosure after Bank of America filed a notice of default against the property’s developer, Avon, Colo.-based East West Resort Development, on March 31, 2010.
