In The News – Biltmore’s notice of default rescinded
October 14, 2024 | Member Submitted
Originally Published in the Tahoe Daily Tribune, 10/14/2024, Written by Brenna O’Boyle
CRYSTAL BAY, Nev. – The previous notice of default for the Tahoe Biltmore Hotel and Casino site has been rescinded.
“We are focused on ensuring a successful outcome for all stakeholders as we actively work through the restructuring of financing,” said Ebbie K. Nakhjavani, founder and CEO of EKN. “As a result of these efforts, the notice of default has now been removed. We remain fully committed to the revitalization of the Tahoe Biltmore property as we continue to invest and make progress on site work in anticipation of demolition and groundbreaking by Spring 2025.”
In 2021, EKN Development bought the property for $56.8 million. It is set to become Lake Tahoe’s first Waldorf Astoria.