Hotel Online 
News for the Hospitality Executive


Ritz-Carlton Lake Tahoe Foreclosure Sale Delayed a Second Time

By Dale Kasler, The Sacramento Bee, Calif.McClatchy-Tribune Regional News

July 12, 2011--The Ritz-Carlton hotel foreclosure sale, set for Monday, has been postponed a second time. The new sale date is July 25.

Hotel operations aren't affected, executives with the Lake Tahoe property said.

The Northstar-area luxury hotel defaulted on $165 million in bank loans in March 2010, a few months after opening. Bank of America, which represents a group of banks that lent to the hotel, filed a foreclosure notice in early June.

The foreclosure sale was originally set for June 27. But the case proved to be more complicated than expected because of multiple lenders, said Tom Morone, the hotel's court- appointed receiver.


To see more of The Sacramento Bee, or to subscribe to the newspaper, go to

Copyright (c) 2011, The Sacramento Bee, Calif.

Distributed by McClatchy-Tribune Information Services. For more information about the content services offered by McClatchy-Tribune Information Services (MCT), visit

Receive Your Hospitality Industry Headlines via Email for Free! Subscribe Here

To Learn More About Your News Being Published on Hotel-Online Inquire Here

To search Hotel Online data base of News and Trends Go to Hotel.OnlineSearch

Home | Welcome | Hospitality News
| Industry Resources

Please contact Hotel.Online with your comments and suggestions.