The Ritz-Carlton, Laguna Niguel, a prominent coastal resort in Dana Point, has been sold for $600 million. The transaction represents one of the largest hotel sales in Southern California in recent years.
The 396-room luxury property, which overlooks the Pacific Ocean, was acquired by an affiliate of the real estate investment firm Eagle Four Partners. The seller was a subsidiary of Strategic Hotels & Resorts, which is owned by Blackstone.
According to public records, the sale was finalized on June 6. The purchase price equates to approximately $1.5 million per room, placing the deal among the highest per-room hotel transactions in the region.
Originally opened in 1984, the Ritz-Carlton, Laguna Niguel has long been recognized as a landmark destination for both leisure and business travelers. The resort features multiple dining venues, a spa, and extensive event space, and is situated atop a bluff with panoramic ocean views.
“We are thrilled to add the Ritz-Carlton, Laguna Niguel to our portfolio of iconic hospitality assets,” said Kory Kramer, partner at Eagle Four Partners. “This property has a rich history and an exceptional location, and we look forward to its continued success.”
The Ritz-Carlton, Laguna Niguel will continue to operate under the Ritz-Carlton brand. Marriott International will remain as the manager of the property, according to a statement from Eagle Four Partners.
Blackstone acquired Strategic Hotels & Resorts in 2015 for approximately $6 billion, which included a portfolio of high-profile hotels. The sale of the Ritz-Carlton, Laguna Niguel is part of Blackstone’s ongoing strategy to divest certain hospitality assets.
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