12/28/2022 0 Comments Montage hotel laguna beachIn May, Dajia halted efforts to refinance a separate hotel portfolio, citing market volatility.ĭajia refinanced the Laguna Beach, Jackson Hole and Scottsdale hotels last fall. Now Dajia, based in Beijing, is exploring a smaller transaction at a moment when lodging demand is surging in the US, especially at lavish resorts like the Laguna Beach, Jackson Hole and Scottsdale properties.Īcross all US hotels, revenue per available room increased 33 percent last week from the same period in 2021, and 26 percent from 2019 before the pandemic, according to data fromRaymond James & Associates.Īt the same time, rising interest rates and uncertainty in capital markets could make it harder for a buyer to line up financing for a Dajia deal. That transaction, which included the three properties that Dajia may now sell, fell through in 2020 as the coronavirus pandemic crippled global the hotel industry. In 2019, Anbang agreed to sell a group of 15 hotels to South Korea’s Mirae Asset Management Co. Rooms cost between $1,670 to $12,500 a night, according to its website. Amenities include three signature restaurants, two pools and a 20,000-square-foot spa. The 258-room Craftsman-style Montage Laguna Beach spans 30 acres atop a seaside bluff within the artist colony along the coast. The properties were transferred to Dajia when the Chinese government restructured Anbang following that company’s collapse. The hotels in the Dajia portfolio are well-known in the lodging industry for their high-end locations and the troubled saga surrounding their ownership. It may seek to cash in on surging travel demand even as rising interest rates make financing real estate transactions more expensive. The state-owned Dajia, which took over most of the operations of the now-defunct Anbang Insurance Group, is tapping advisers for a potential transaction, according to Bloomberg. The group could sell for more than $1 billion, according to the report. Other hotels under consideration for sale include Four Seasons resorts in Jackson Hole, Wyoming, and Scottsdale, Arizona. The China-based owner of the Montage Laguna Beach looks to be preparing to sell the posh beachfront resort.ĭajia Insurance Group is exploring a sale of a trio of luxury hotels that includes the coastal OC resort, Bloomberg reported, citing unidentified sources. Montage Laguna Beach (Montage Hotels, iStock)
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