Billionaire Mulls $650M Montage Laguna Beach Purchase: Report
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LAGUNA BEACH, CA — Montage Laguna Beach may come under new ownership in the future, after the Wall Street Journal reported a possible sale of the luxury resort this week.
Billionaire Tilman Fertitta is close to buying the 250-room ocean-view hotel in coastal Orange County for roughly $650 million, the Orange County Register reported.
Fertitta owns hotels across the country, including multiple Golden Nugget casinos and the luxury Post Oak Hotel in Houston. He also owns pro basketball’s Houston Rockets, and he has a 6.2 percent stake in Wynn Resorts Ltd., the operator of hotels and casinos in Las Vegas and Macau, the report said.
The seller of Montage Laguna Beach is China’s Dajia Insurance Group Co., and a representative for the company did not respond to the Orange County Register’s request for comment.
If the $650 million price tag is correct, the luxury hotel will sell for the second highest price per room ever paid in California, hotel analyst Alan Reay of Atlas Hospitality Group told the OC Register.
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