Shattering California state records, Southern Califonia luxury hotel resort La Montage recently sold foe $360 million–or around $1.4 million per room according to a recent article in the LA Times. Said rooms, by the way, go for around $600 per night each.
This purchase price shatters all recent records in California and comes close to matching other pricy sales, which includes the Hotel Del Coronado, which recently sold for over $1 million per room and the Four Seasons Resort Hualalai in Hawaii and the Waldorf Astoria New York which each sold for more than $1.4 million per room.
This recent purchase of the La Montage was completed by the Strategic Hotels & Resorts Inc. which also bought the 250-room Montage Laguna Beach from an affiliate of Ohana Real Estate Investors, a Redwood City investment firm funded by Pierre Omidyar, the founder and chairman of eBay. Ohana still (for time being) owns the Travelodge Laguna Beach and the Montage Beverly Hills, among other properties.
Montage Hotels & Resorts will continue to run and operate the upscale Laguna Beach resdort, which opened in 2003 on South Coast Highway. It has a meeting rooms, a spa and a five-star rating from Forbes. Resting on a 50-foot bluff overlooking the Pacific Ocean and unforgetable sunsets, the La Montage Laguna Beach beckons guests seeking the ultimate Southern Californan getaway.
