$84 million default
Update: Barclay's Capital has "officially assumed ownership of the resort," and will retain the partnership with Noble House Hotels & Resorts to manage the property. Also this week Snique Away is offering reservations at La Torretta for $99 a night.
It looks like the efforts to make Lake Conroe a luxury destination haven't worked out as planned for La Torretta Lake Resort and its owners, Atlanta-based French Quarter Group.
According to the Houston Business Journal, the property has gone into foreclosure, in default on an $84 million loan from Barclays Capital Real Estate. La Torretta was scheduled for a foreclosure sale on Tuesday, but the Houston Chronicle reports that the resort will remain open and function normally until a sale is completed.
The 445-room resort opened in 2009 with $130 million in upgrades on the 1980s-era Del Lago property, including an expanded pool area, a Jeffrey Blume-designed golf course and the first American restaurant from Albert Roux, a culinary legend.
Have you ever been to La Torretta or Chez Roux? What did you think?