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California  + Bay Area  + Hospitality  | 

Montage Healdsburg Resort Goes for $265M or $2M Per Key

The 130-room Montage Healdsburg recently sold to Sunstone Hotel Investors Inc. for $265 million or $2 million per key. Montage Healdsburg is a newly built 258-acre resort located a short distance from downtown.

Hospitality investment firm Ohana Real Estate Investors will retain ownership of the property’s residential parcels, and has already begun constructing homes and selling custom sites that will be affiliated with the resort.

“This sale reflects the strong interest from investors in best-in-class leisure-oriented resorts as the hotel industry begins to recover from the effects of the COVID-19 pandemic,” said James Cole, head of asset management at Ohana. “Sunstone is a well-respected institutional owner of hotels and we look forward to their ownership of the hotel as we complete the build out of the 68 private residential units.”

Ohana has been among the most active investors in the hotel sector since the onset of the pandemic, investing in a range of luxury hotel properties and related investments. This transaction marks the second time Ohana has sold a hotel property for more than $2 million per key. The first sale occurred in December 2019 when Ohana sold Montage Beverly Hills for $2.1 million per key, the highest price-per-key hotel sale in the country at the time.

Designed using sustainable development practices, the resort’s amenities feature multiple pools, a full-service spa, and indoor-outdoor dining options including a multi-level main restaurant and outdoor bar/dining overlooking the resort’s vineyards.

This transaction was advised by global law firm Dentons.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Acquisition
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