Lajitas Travel Guide

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Fancy Schmancy Texas Resort Files For Bankruptcy Protection

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  Site Where: HC 70 [map], Lajitas, TX, United States, 79852
July 19, 2007 at 11:20 AM | by | ()

The Lajitas Resort in Lajitas, Texas has got some serious money problems. Hot shot developer Steve Smith bought the property in 2000 for $4.5 million and then went about turning it into a luxury resort complete with an "emerald-green" golf course, a gourmet restaurant and two bedroom suite room rates of $750 a night.

The place, now worth over $200 million, was tagged as "The Ultimate Hideout" where Richie Rich could fly in on his private jet or helicopter for a weekend of golf and relaxation. It also has a "mayor" on staff--a beer loving goat named Clay Henry.

Yet it seems not everyone wants to pay the high room rates or the $75,000 annual club membership fee as the resort has defaulted on a $12.2 million loan and has filed for bankruptcy protection.


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