Luxury hotel group Ritz-Carlton is to close its Las Vegas property on May 2, following a slump in demand for the high-end meetings and incentives market in the US.
A statement on the group’s website says:
“We regret The Ritz-Carlton, Lake Las Vegas will close permanently on 2, 2010. Until that date, we will be accepting reservations, and the hotel will be fully operational.”
The hotel is located 17 miles from the city’s Strip, and features 348 rooms and suites, a spa and outdoor swimming pool.
The economic downturn has undoubtedly taken its toll on the US luxury hotel market, and analysts are also blaming the slump in high-end demand on the “AIG effect”- negative publicity created by the insurance company’s decision to send its employees to a high-end Californian resort shortly after the firm had been bailed out by the US government.
Ritz-Carlton recently announced it is to manage its first property in Israel (see online news December 12, 2009), and also opened its first “eco-hotel” in Charlotte, North Carolina in October last year (see online news October 4, 2009).
For more information visit ritzcarlton.com.
Report by Mark Caswell