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Northstar’s Ritz on financial fritz

Published: April 24, 2010  By: admin, In: News,  2 Comments
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By Mark Anderson, Sacramento Business Journal

Bank of America has filed a notice of default against the Ritz-Carlton Highlands Lake Tahoe, a luxury resort that opened just four months ago.

The notice of default, filed at the end of March, claims the Highlands Hotel Co. LLC is $18.6 million in default on the hotel and a neighboring parcel. The default involves two loans totaling

Ritz-Carlton at Northstar

Ritz-Carlton at Northstar

$157 million.

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Comments

Comments (2)
  1. Careaboutthecommunity says - Posted: April 24, 2010

    This place continues to have negative publicity. They need to get a grip over there, and maintain the image they should have for a high end lodge.

  2. dogwoman says - Posted: April 24, 2010

    I thought there was something fishy about their story about closing for a few weeks during shoulder season being standard procedure. I’ve been in hospitality a long time and never heard of such a thing.