The Ritz-Carlton Lake Las Vegas will close on May 2nd. Bought out of bankruptcy last year by an arm of Deutsche Bank the hotel earned a AAA Five Diamond Award just this past November.
Source link: http://blog.mises.org/11639/closing-down-the-ritz/
Closing down the Ritz
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Are these ratings agencies run by private individuals or by bureaucrats?
It was the food and service they rated, right?
AAA Five Diamond rating is based on their service not their credit rating please see Moody, S&P or Fitch rating to determine their actual rating.
http://www.lasvegassun.com/news/2009/nov/06/vegas-area-adds-three-hotels-elite-aaa-list/
Based on the leading rating agency … Marriot which owns Ritz-Carlton is between a Baa1 to Baa3 rating… Which means a Medium Grade company to invest in and may have debt unable to pay.
I was there for a wedding – in June no less – a couple years ago. It was readily apparent that whole area was a product of the fake credit boom.
This is not surprising in the least.
Bill:
“I was there for a wedding – in June no less – a couple years ago. It was readily apparent that whole area was a product of the fake credit boom.”
Good for you! Food and service was truly AAA, I expect?
I consider this topic a joke which plays on AAA being used in both food and finance. Those two AAA:s hardly correlate well in depressions, so to speak. However, food raters certainly have much more integrity in their work, than do the failed P&G guys.
Do not INVEST according to the grades the gourmets give, but indeed, you are very well adviced to CONSUME by them!
Gastro,
Please do not bet you bowels on the food rating. Ask first who is paying for the rating!!!
Gastro,
My thoughts on the food/service were basically “why the hell am I in Vegas in June?”
It was 107 every day it seemed.
I’m not much of a consumer of resort living, but the accomodations were very nice. We brought our own breakfast foods. Didn’t pay much attention to the rating of the one dinner – reception – I ate there (went to the strip the other nights). Ate lunch at the Irish pub in the village which was very good.
The Starbucks was there in the village the first day, but when I went for my morning Americano the second day, it was closed and apparently out of business.
The fake Ponte Vecchio was pretty much devoid of retail stores. The streets near the resort were lined with signs for property auctions around the golf course(s).
My comments went to the financial condition of the resort area, not the service.
On our way back to Santa Fe, we spent a couple days at Bryce Canyon. I remember getting out of the car upon our arrival. It was 70 and raining. I just laid on the picnic table and soaked up the cool, glorious water from the sky.
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