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by Michael J. Shapiro | April 28, 2010

Bank of America has filed a default notice for the owners of the 170-room Ritz-Carlton Highlands, Lake Tahoe, in Truckee, Calif. According to an article yesterday in the Sacramento Bee, the property is behind on $18.7 million in loans totaling $157 million. The hotel's developer, East West Resort Development, recently began bankruptcy reorganization for some other real estate in the same area, around the Northstar-at-Tahoe resort. The owners' financial position will not affect the operation of the hotel, which debuted Dec. 9, according to Steven Holt, director of public relations for the resort. "We had an amazing first winter season ahead of all projections and are ready to welcome guests on May 10 for the busy summer season," noted Holt. "This will not impact our operation, as management of the hotel will remain with the Ritz-Carlton regardless of the owners' situation."