If You Had Travel Plans To Vegas Using tripres.com, Guess Again

From the LVRJ: Prestige Travel Inc. lost a U.S. Bankruptcy Court bid on Thursday to have certain funds applied to customer hotel stays in the future, potentially leading to an unhappy start to hundreds of vacations.
The Las Vegas-based travel agency, one of the largest in Nevada, has already had clients who showed up at local resorts only to be told at the front desk that they would have to buy their rooms again.
Prestige requested temporary restraining orders that would force about four dozen hotels and resorts to use money from standby loans called letters of credit to cover future guests instead of paying down debts incurred by Prestige prior to bankruptcy. However, U.S. Bankruptcy Court Judge Bruce Markell ruled that the hotels could not be forced honor to their booking contracts with Prestige, especially when Prestige had already defaulted on them.
The bookings were made through tripres.com, Prestige's online division that has already been closed, although the website still exists and routes bookings through a different company. The company will attempt to reorganize around physical locations, currently numbering 10 in Las Vegas.
Tripres would take traveler payments, then forward them to the hotel after check in. However, in many instances, the amount Tripres owes exceeds the amount available from letters of credit though it holds cash in separate accounts.  http://www.lvrj.com/business/bankruptcy-court-ruling-on-prestige-travel-may-snarl-travel-plans-176883711.html
This is going to significantly hurt Las Vegas.  Not only are we going to lose visitors, they are going to tell their friends that Las Vegas hotels don't honor commitments.  This has the potential to very big and very bad for Las Vegas.