luxury hotels to South Korea-based Mirae Global Asset Investment Co. In 2019, Dajia had initially agreed to sell the Montage Laguna Beach, the Ritz Carlton Half Moon Bay, and other U.S. "It shows how strong the market is for Orange County coastal trophy hotels."Ĭhina-based Dajia Insurance Group Co., formerly Anbang Insurance Group, has been trying to unload the Montage Laguna Beach and other high-end resorts in their portfolio for several years. "This would make it the second-highest price per room ever paid in California as well as the second-highest price ever paid for a hotel in California," said Reay to Spectrum News. In 2014, Strategic Hotels purchased the 757-room Hotel del Coronado from Blackstone & KSL Resorts for $787 million. The Montage Laguna Beach is only one of six hotels and resort properties in the nation to receive Forbes' Triple Five-Star ratingįertitta didn't disclose the sale price, but a Bloomberg story broke the initial news last week and reported that the multi-billionaire shelled out more than $650 million for the five-star 260-room resort.Īt a reported $650 million, the acquisition price would be the second highest-priced hotel sold in California, said Alan Reay, the president at Atlas Hospitality Group, an Orange County-based hotel brokerage firm.China-based Dajia Insurance Group had been trying to sell the Montage and other high-end hotels in their portfolio since 2019.Fertitta adds to his growing list of luxury hotel properties across the U.S.Multi-billionaire and NBA Houston Rockets owner Tilman Fertitta purchased the five-star Montage Laguna Beach for a reported $650 million.
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