on January 31, 2015 in World News
Montage Laguna Beach sells for $360 million
Montage Laguna Beach sells for $360 million; deal shatters state records One of Southern California’s most luxurious resorts, the Montage Laguna Beach, has been bought for $360 million by a Chicago real estate investment trust in one of the priciest hotel deals in years. At a cost of $1.4 million per room, the deal “shattered the price barrier for California hotels by a wide margin,” hotel consultant Alan Reay said. Only hotels in Hawaii and New York have traded for more per room, he said. Strategic Hotels & Resorts Inc. bought the 250-room Montage Laguna Beach from an affiliate of… View Article
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