Anyone have an extra $400 Million lying around?
04-14-2006, 10:28 AM
#1
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Anyone have an extra $400 Million lying around?
Ritz-Carlton Laguna Niguel up for sale
Owner Strategic Hotel Capital LLC has placed it on the market in an effort to liquidate its holdings, according to an industry newsletter.
By MICHELE HIMMELBERG
The Orange County Register
The Ritz-Carlton Laguna Niguel is up for sale, according to a commercial real estate newsletter. The owner is looking to liquidate its assets.
Shopping for a resort? The 393-room Ritz-Carlton Laguna Niguel is on the market.
Strategic Hotel Capital LLC, a Chicago firm that owns the Dana Point resort, has hired Goldman Sachs to market the Ritz-Carlton as part of an effort to liquidate all of its holdings, according to an industry newsletter, commercialrealestate.com.
The report says that Strategic Hotel Capital is looking to get close to $400 million for the "five-diamond" hotel, which sits on the bluffs overlooking the Pacific Ocean. That would be nearly $1 million per room.
The owners recently invested close to $40 million for a massive renovation of the resort, opening it up more to take advantage of the ocean location and updating all the rooms. The Ritz-Carlton opened in 1984 and was the first public luxury resort along the Orange County coast.
Strategic Hotel bought the Ritz-Carlton in 1997. It has 22,000 square feet of meeting space, two restaurants, two outdoor pools, and a new spa and fitness center that overlooks the Pacific.
Owner Strategic Hotel Capital LLC has placed it on the market in an effort to liquidate its holdings, according to an industry newsletter.
By MICHELE HIMMELBERG
The Orange County Register
The Ritz-Carlton Laguna Niguel is up for sale, according to a commercial real estate newsletter. The owner is looking to liquidate its assets.
Shopping for a resort? The 393-room Ritz-Carlton Laguna Niguel is on the market.
Strategic Hotel Capital LLC, a Chicago firm that owns the Dana Point resort, has hired Goldman Sachs to market the Ritz-Carlton as part of an effort to liquidate all of its holdings, according to an industry newsletter, commercialrealestate.com.
The report says that Strategic Hotel Capital is looking to get close to $400 million for the "five-diamond" hotel, which sits on the bluffs overlooking the Pacific Ocean. That would be nearly $1 million per room.
The owners recently invested close to $40 million for a massive renovation of the resort, opening it up more to take advantage of the ocean location and updating all the rooms. The Ritz-Carlton opened in 1984 and was the first public luxury resort along the Orange County coast.
Strategic Hotel bought the Ritz-Carlton in 1997. It has 22,000 square feet of meeting space, two restaurants, two outdoor pools, and a new spa and fitness center that overlooks the Pacific.
04-14-2006, 10:58 AM
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so are they trying to keep it a Ritz Carlton hotel? Or when it goes to new ownership it will become a privately owned hotel? I guess it is all matters to who buys it.
04-14-2006, 11:06 AM
#6
We stayed there one night last summer after a wedding anniversary brunch for my friend that involved a lot of alcohol. I think I paid $450 for the room. Beats the hell out of a 502.
