HENDERSON, Nev. -- Hundreds of jobs and retail foot traffic will be returning to the struggling Lake Las Vegas Resort with an announcement that the former Ritz Carlton Hotel will soon be reopening under new ownership.
As you can imagine, those who live and work out at Lake Las Vegas are ecstatic to hear the world-class hotel will soon be reopening under new name and ownership, breathing some new life into the Village at Monte Lago.
"We're struggling to survive out here and ready for some better times ahead," said Sue O'Leary, owner of the Rocky Mountain Chocolate Factor.
The Rocky Mountain Chocolate Factory is one of 33 shops, restaurants and other businesses that were dealt a serious a blow when first the Casino Monte Lago went under in March, followed by the closing of the world-class Ritz Carlton Hotel two months later.
O'Leary says the announcement that the marquee hotel will reopen early next year under new ownership could not come at a better time.
"We're very excited. It will bring new life to the village.
"All our tenants are ecstatic. They know something was taking place but we didn't know the who, what or when, but now we do and it's a big hurrah," said Maurice Talley with the Village at Lake Las Vegas.
The Dolce Hotel and Resort Group is taking over the 349-room property which sits on 15 acres of Lake Las Vegas. Steven Rudnitsky, the company president and CEO, says now the property's reopening will bring much-needed jobs back to our community.
"I would suggest there to be approximately 200 additional people to be employed in the area as a result of us reopening that property," he said.
Despite the economy, the Village of Monte Lago has managed to maintain a commercial tenant occupancy of 85-percent or higher. Currently five of its 33 shops are vacant. News of the hotel's pending reopening is also expected to help the Lake Las Vegas real estate market.
"Prices should start increasing and values should start going back up with this announcement," said Jim Slama with Lake Las Vegas Village Realty.
The Dolce Group has not decided what to name the new hotel, but they expect to be open for business again sometime during the first three months of 2011.