Luxury hotel chain Waldorf Astoria will replace the former Tahoe Biltmore in Lake Tahoe, California, as a new resort is planned for the location.
In late 2021, EKN Development Group acquired the Tahoe Biltmore, a historical casino resort, with plans to transform the site into a luxury Waldorf Astoria resort. The new development, set to be the brand's first property in the Sierra Nevada mountain range, will feature 76 guestrooms, 61 Waldorf Astoria-branded residences, a resort pool, several distinctive restaurants, and a boutique casino.
The acquisition of the Tahoe Biltmore site for $56.8 million [2][3] was followed by the purchase of Beesley's Cottages and its 10 cabins for roughly $18 million [1]. The architecture of the new resort will reflect the aesthetics of Lake Tahoe, with wood and stone elements, pitched roofs, terraces, and balconies overlooking Crystal Bay [1].
However, the ambitious project has faced significant financial difficulties and delays. The original developer, EKN Development, purchased the property in 2021 but ran into multiple loan defaults starting in 2024. The project was repeatedly delayed, despite promises to local and state officials that construction was on track. Ultimately, in July 2025, the property was foreclosed and sold at auction for a mere $153,000 to the original lender, leaving the future of the development uncertain [1][2][3].
Regarding the beach component or access, no explicit details have been confirmed in the available information about adding or preserving beach amenities as part of the redevelopment. The focus has mostly been on the luxury resort, residences, and limited casino operations without mention of beach facilities [2][3].
The Tahoe Regional Planning Agency still holds a valid permit for development, which is complex and involved extensive environmental analysis. If the new ownership does not pursue the project, the permit will expire within three years. Given the investment in securing these permits, it is considered unlikely the project will be abandoned outright, but the current financial stalemate creates uncertainty [1].
Hilton Worldwide is a partner in the new development, marking the second Waldorf Astoria property in Nevada. The Waldorf Astoria Lake Tahoe will feature a casino, unlike the Waldorf Astoria Las Vegas [3]. The former Tahoe Biltmore was demolished in May 2022, making way for the new luxury development.
References:
[1] Tahoe Daily Tribune (2025). Tahoe Biltmore project stalls due to financial foreclosures. [online] Available at: https://www.tahoedailytribune.com/news/local/tahoe-biltmore-project-stalls-due-to-financial-foreclosures/
[2] Reno Gazette-Journal (2022). Tahoe Biltmore property sold at auction for $153,000 after foreclosure. [online] Available at: https://www.rgj.com/story/news/2022/07/29/tahoe-biltmore-property-sold-auction-153-000-foreclosure/10248652002/
[3] Nevada Appeal (2021). Tahoe Biltmore to become Waldorf Astoria Lake Tahoe resort. [online] Available at: https://www.nevadaappeal.com/news/tahoe-biltmore-to-become-waldorf-astoria-lake-tahoe-resort/
- The luxury Waldorf Astoria resort at Lake Tahoe, a project by EKN Development, will also have partnership with Hilton Worldwide, making it the second Waldorf Astoria property in Nevada.
- The Tahoe Biltmore, now being redeveloped into the Waldorf Astoria Lake Tahoe, originally had a casino and this will continue to be part of the new property, unlike the Waldorf Astoria Las Vegas.
- After facing financial difficulties and delays, the Tahoe Biltmore property was foreclosed and sold at auction for $153,000, leaving the future of the development uncertain.
- The new Waldorf Astoria Lake Tahoe resort will feature several distinctive restaurants and a boutique casino, reflecting the aesthetics of Lake Tahoe with its wood and stone elements, pitched roofs, terraces, and balconies overlooking Crystal Bay.
- The Tahoe Regional Planning Agency still holds a valid permit for development of the new Waldorf Astoria Lake Tahoe resort, but if the project is not pursued by the new owners, the permit will expire within three years.
