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Montage Sold to Hotel Group

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Montage Laguna Beach overlooks Treasure Island Beach and Goff Cove.

Montage Laguna Beach overlooks Treasure Island Beach and Goff Cove.

Strategic Hotels & Resorts, Inc., whose properties include the Hotel Del Coronado and Ritz-Carlton, Laguna Niguel, acquired the 250-room Montage Laguna Beach for $360.0 million, the company said in a statement Thursday.

At a sale price of $1.4 million a room, the deal puts Montage on par with the Waldorf Astoria, sold for $1.95 billion last October or $1.4 million a room.

The seller is an affiliate of Ohana Real Estate Investors LLC, controlled by Ebay founder Pierre Omidyar. There was no word about Ohana’s other Montage properties in Beverly Hills, Deer Valley or Maravilla Los Cabos.

Montage Hotels & Resorts will continue to manage the resort, which opened in 2003 and features 250 guestrooms and three restaurants on a 30-acre bluff top overlooking the Pacific Ocean, the statement says.

Alan Fuerstman, founder and chief executive of Montage Hotels & Resorts, in

Alan Fuerstman, who heads the management company that has operated Montage from the outset, will remain  on board with the new owner.

Alan Fuerstman, who heads the management company that has operated Montage from the outset, will remain on board with the new owner.

a statement described Strategic Hotels as one of the industry’s leading luxury hotel owners that shares Montage’s commitment to a top-flight guest experience. The Chicago-based company owns 18 hotel properties with of 8,325 rooms.

“The opportunity to acquire a hotel of this prominence is exceptionally rare and we are delighted to work with the team at Ohana on this transaction as well as beginning what we believe will be a long and successful partnership with Montage,” Raymond L. “Rip” Gellein, Strategic Hotels chairman said in a statement

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About the Author
The author is the editor of the Laguna Beach Independent. Prior to taking the job in 2005, she worked previously as a reporter at five daily newspapers, including the Daily Pilot in Costa Mesa, the Daily News of Los Angeles and the New York Times. Reach her by emailing [email protected]
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