Participants mum on sale of Ritz-Carlton at Lake Las Vegas


Participants in the sale of the Ritz-Carlton at Lake Las Vegas aren't even returning calls to talk about the new owners, let alone to discuss the purchase price.

In a vague press release issued Tuesday, an entity called Village Hospitality LLC reported it bought the hotel — and little else.

It included a quote from Michelle Russo of hotel AVE of Rhode Island as the asset manager on behalf of Village Hospitality. When contacted Russo didn't seem to know anything about the transaction and promised to call back with more information, but didn't.

An Internet search turned up a reference to Village Hospitality entering into a tax increment financing deal in Amana, Iowa, for an unnamed hotel. But it appears that project never came to fruition.

Sellers from a subsidiary of Deutsche Bank also said they would answer questions about the Lake Las Vegas deal. But later they, too, said they wouldn't comment.

As for the sale price, Clark County property records indicate the property changed hands officially on Feb. 5 at a price of $98 million.

 

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