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January 24, 1995 | PATRICK LEE, TIMES STAFF WRITER
For the second time in six months, a financially troubled local Ritz-Carlton resort hotel--this time in Rancho Mirage--has been taken over by new owners as the previous owners struggle to rid themselves of debt problems. The 240-room Ritz-Carlton Rancho Mirage was built seven years ago on 24 acres in Riverside County and has become a popular destination for Southern California's rich and famous. It was taken over last week by Olympus Real Estate Corp.
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January 24, 1995 | PATRICK LEE, TIMES STAFF WRITER
For the second time in six months, a financially troubled local Ritz-Carlton resort hotel--this time in Rancho Mirage--has been taken over by new owners as the previous owners struggle to rid themselves of debt problems. The 240-room Ritz-Carlton Rancho Mirage was built seven years ago on 24 acres in Riverside County and has become a popular destination for Southern California's rich and famous. It was taken over last week by Olympus Real Estate Corp.
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