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County Says Ritz-Carlton In Avon Is In Foreclosure

AVON, Colo. (AP) – The Vail Daily reports that public records show the Ritz-Carlton Bachelor Gulch in Avon is in foreclosure.

The newspaper says Eagle County records show the luxury hotel’s owner owes Lehman Brothers $61 million, which could make it the largest foreclosure in the county’s history. Miami-based Gencom, the owner, has 27 hotels and properties across the country.

County records show the foreclosure sale date for the hotel is Aug. 24. Ritz-Carlton officials say hotel operations won’t be disrupted.

The Vail Daily says Gencom didn’t return phone calls Thursday.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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