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Lenders Foreclose on Ritz-Carlton at Northstar-at-Tahoe

Jul 26, 2011 10:14 AM

From The Sacramento Bee
Lenders Foreclose on Ritz-Carlton at Northstar-at-Tahoe
The foreclosure at the Ritz-Carlton luxury hotel is the latest sign of economic distress in the Sierra resort industry.A group of banks took ownership of the hotel Monday after the developer of the Ritz defaulted on a $165 million loan last year. The property will continue to operate as the Ritz under a 25-year management contract. Click here for the full story.

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