Anbang had agreed to sell the lodging portfolio in 2019 as part of a deal that ultimately fell through as the pandemic struck. Strategic soon sold itself to New York-based Blackstone, which then sold Montage and other Strategic hotels to Anbang in 2016.ĭajia began exploring the sale of Anbang’s luxury US hotels earlier this year. It opened in 2003, and in 2015 was bought by Strategic Hotels for $360 million – then the highest price paid per hotel room in California. He paid $2.2 billion for the basketball team in 2017. Let’s not forget sportsįertitta also owns the NBA’s Houston Rockets. The drama surrounds whether the billionaire offers either business or both the game-changing deal. The plot involves two businesses seeking a “transformative” order from Fertitta.
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He’s a reality TV star, tooĭating to 2016, CNBC’s “Billion Dollar Buyer” has featured Fertitta searching for partners for his empire. He also owns Golden Nugget casinos in Las Vegas, Laughlin, Nevada, Atlantic City, N.J., Biloxi, Miss. He owns 14 other hotels from the San Luis Resort in Galveston to the Huntting Inn at the exclusive Hamptons in New York. In 2018, Fertitta built the upscale Post Oak Hotel in Houston. The Montage isn’t Fertitta’s first high-end lodging deal. Later, he was an early partner in the first Landry’s restaurant in the Houston suburbs.
He got his first taste of business at his father’s seafood restaurant. The 65-year-old hospitality operator hails from Galveston, Texas, and now calls Houston his home. So who is Fertitta, who Forbes magazine says is worth $7.6 billion? He’s a restaurant guy (NYSE: BEE), last week announced that it has acquired the 250-room Montage Laguna Beach from an. The Montage is a stunning oceanfront property and one of the premier hotel brands in the world.” Article - Montage Laguna Beach Sold for for 360.0 Million - Strategic Hotels & Resorts, Inc. It is one of my favorite places to visit and one of the most beautiful areas in the world. “I have been traveling to Laguna Beach for over 30 years. “I am truly thrilled to acquire this world-renowned property and add one of America’s most iconic trophy resorts to our luxury hotel portfolio,” Fertitta said of the Montage in a statement. At the widely reported price, the deal marks the second-highest price per room in California history, according to Atlas Hospitality Group. The Montage sits on 30 acres of oceanfront land with 260 rooms, including 60 suites, bungalows and villas. Texas billionaire Tilman Fertitta has acquired the Montage Laguna Beach Resort Hotel for a reported $650 million.įertitta’s company has confirmed the purchase of the high-end, bluff-top hotel. (Photography courtesy of Montage Resorts)
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