Ritz-Carlton Lake Las Vegas in Henderson, Nevada, is to close permanently in May because of a slump in tourist trade.
The resort is owned by Village Hospitality, an arm of Deutsche Bank, which ceased funding the 348-room resort. The Ritz-Carlton chain is a unit of Marriott International.
The resort, which opened seven years ago, features retail boutiques, a wedding chapel and gondola rides. It received a five-diamond rating from the American Automobile Association for 2010.
The luxury hotel has seen a drop in occupancy levels due to corporate travel cutbacks over the past year.
Ritz-Carlton spokeswoman Vivian Deuschl said an effort to place the 400 employees in jobs at other hotels in the area is underway.