BEAVER CREEK, COLORADO The Ritz-Carlton, Bachelor Gulch, has fallen into foreclosure, and the luxury property’s owner has until August 24 to bring the loan current.
Miami-based Gencom Group owes about US$61 million on the 180-key property, The Denver Post reports. A foreclosure sale is set for late August.
Ritz-Carlton is expected to continue managing the nine-year-old property under a long-term agreement, and the resort is operating normally.