Las Vegas Sun

May 5, 2015

Currently: 81° — Complete forecast | Log in | Create an account

Part of MonteLago Village Resort at Lake Las Vegas gets new owner


Joe Elbert

Looking down at the MonteLago Village Resort and the shuttered Casino MonteLago from Grand Mediterra Boulevard at Lake Las Vegas.

Updated Friday, April 16, 2010 | 5:27 p.m.

The lodging portion of the MonteLago Village Resort at Lake Las Vegas is under new ownership, a California-based real estate investment firm announced today.

Pacific Capital Management, which had owned only the dining and shopping portion of the village, has acquired the lodging operations of the village from IntraWest Hospitality Management. Signal Butte Investors LLC, an affiliate of Pacific Capital Management, has owned and operated the shopping and dining element of the village since June 2007.

Signal Butte has brought in Aston Hotels & Resorts to run the resort operations in the village. Aston operates hotels in Lake Tahoe, Idaho and Hawaii.

The company said planned events and resort packages will be unaffected by the ownership shift.

MonteLago Village Resort General Manger Nick Darato said the ownership change doesn't affect homeowners who own individual condo units in the resort.

“We will still manage their properties for them and assist them in any way we can with the upkeep of their units,” Darato said.

The rental program will remain the same for now, Darato said. About 150 resort condos are available by reservation for nightly lodging, according to a release on the ownership change.

The MonteLago Village Resort is a three-acre shopping, dining, resort and condo development on the waterfront of Lake Las Vegas.

Casino MonteLago, which closed last month, is a separate entity of the MonteLago Village Resort. The casino was owned by CIRI Lakeside Gaming Investors LLC and was leased through Village Hospitality LLC, which is an arm of Deutsche Bank. Village Hospitality also owns the Ritz-Carlton Lake Las Vegas, which will close May 2. Loews Lake Las Vegas, the other resort in Lake Las Vegas, is owned and operated by the New York-based Loews Hotels.

In addition to the hotels, restaurants and shops, the 3,600-acre Lake Las Vegas development, located about 17 miles from the Strip, includes more than 1,700 residential units. The development is owned by the Atalon Group and is currently in bankruptcy.

Join the Discussion:

Check this out for a full explanation of our conversion to the LiveFyre commenting system and instructions on how to sign up for an account.

Full comments policy

Previous Discussion: comments so far…

Comments are moderated by Las Vegas Sun editors. Our goal is not to limit the discussion, but rather to elevate it. Comments should be relevant and contain no abusive language. Comments that are off-topic, vulgar, profane or include personal attacks will be removed. Full comments policy. Additionally, we now display comments from trusted commenters by default. Those wishing to become a trusted commenter need to verify their identity or sign in with Facebook Connect to tie their Facebook account to their Las Vegas Sun account. For more on this change, read our story about how it works and why we did it.

Only trusted comments are displayed on this page. Untrusted comments have expired from this story.

No trusted comments have been posted.