Las Vegas Ritz-Carlton to close!
LAS VEGAS, Nevada - February 10, 2010 - The Ritz-Carlton Lake Las Vegas resort, which has 350 rooms and is 17 miles from the Las Vegas Strip, is owned by an arm of Deutsche Bank and will stop day-to-day operations on May 2.
A Ritz-Carlton spokeswoman, Vivian Deuschl, said, "The whole demonization of luxury meetings and companies pulling back on having their high-end meetings in luxury hotels; this has had a tremendous impact on Las Vegas. I can't think of another destination that has had to defend itself more against comments from politicians."
Luxury hotel bookings have declined across the United States following the so-called "AIG effect".
The term refers to the bad publicity surrounding insurance giant AIG's decision to fly executives to another resort in Kalifornia after being offered bailout money by the U.S. government.
A Deutsche Bank spokesman, Scott Helfman, said, "The unprecedented economic downturn has had a significant impact on the hotel's operations."
A Ritz-Carlton spokeswoman, Vivian Deuschl, said, "The whole demonization of luxury meetings and companies pulling back on having their high-end meetings in luxury hotels; this has had a tremendous impact on Las Vegas. I can't think of another destination that has had to defend itself more against comments from politicians."
Luxury hotel bookings have declined across the United States following the so-called "AIG effect".
The term refers to the bad publicity surrounding insurance giant AIG's decision to fly executives to another resort in Kalifornia after being offered bailout money by the U.S. government.
A Deutsche Bank spokesman, Scott Helfman, said, "The unprecedented economic downturn has had a significant impact on the hotel's operations."
