Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
California  + Orange County  + Hospitality  |  November 23, 2022
Houston Billionaire pays $650M for SoCal Beach Resort
Mark Nieto
By: Mark Nieto

Montage Laguna Beach Hotel Sells for $650M

As reported here, Houston billionaire Tilman Fertitta is acquiring the 258-room, cliffside luxury Montage Hotel in Laguna Beach, CA. The eye-popping $650 million price tag is believed to be one of the highest-valued hotel transactions ever in California. The casino magnate is probably best-known as the owner of the NBA’s Houston Rockets. The seller in the deal was China-based Dajia Insurance Group.

The Montage Laguna Beach Resort offers 30 acres of oceanfront property, with all rooms featuring Pacific Ocean views. If you’d like to spend a night at Montage, expect to pay between $1,200 and $11,000.

Fertitta, who owns 14 other hotel properties in the United States, has apparently been looking to buy Montage Laguna Beach for awhile. “I have been traveling to Laguna Beach for over 30 years. It is one of my favorite places to visit and one of the most beautiful areas in the world,” commented Fertitta. 

Connect

Inside The Story

Montage Laguna BeachTilman Fertitta

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
Order Reprints
  • ◦Sale/Acquisition
New call-to-action
New call-to-action
New call-to-action