Reay of Atlas Hospitality said stakes in the Hotel del Coronado in San Diego have traded at values of more than $1 million per room in recent years, but only a handful of properties, including the Four Seasons Resort Hualalai in Hawaii and the Waldorf Astoria New York, sold for more than $1.4 million per room. “Rip” Gellein, chairman and chief executive of Strategic Hotels & Resorts. “We are thrilled to acquire Montage Laguna Beach, a truly iconic luxury hotel located on one of the best resort settings in the continental United States,” says Raymond L. The craftsman-style buildings stand on a bluff overlooking the Pacific. Montage Hotels & Resorts will continue to operate the Forbes Five-Star site, which opened in 2003 on South Coast Highway. See 2,161 traveler reviews, 1,543 candid photos, and great deals for Montage Laguna Beach, ranked 1 of 23 hotels in Laguna Beach and rated 4.5 of 5 at Tripadvisor. The deal works out to a cost of $1.4 million per room, and “shattered the price barrier for California hotels by a wide margin,” hotel consultant Alan Reay says. Now 948 (Was 1,423) on Tripadvisor: Montage Laguna Beach, Laguna Beach. The Montage Laguna Beach, one of California’s most luxurious resorts, has been bought for $360 million by a Chicago real estate investment trust in one of the priciest hotel deals in years.
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