>Ritz-Carlton to close 5-diamond Las Vegas hotel in May

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>NEW YORK (Reuters) – The Ritz-Carlton Hotel Co will close its five-diamond property in Las Vegas this May, after the hotel struggled with a slide in demand and revenue.

“It’s nothing the hotel did. It’s a simple lack of business and a decline in the tourism industry,” said Ritz-Carlton spokeswoman Vivian Deuschl.

The owners of the 348-room property, Village Hospitality LLC, an arm of Deutsche Bank, will stop funding the Ritz-Carlton Lake Las Vegas day-to-day operations on May 2.

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