Texas billionaire Tilman Fertitta acquires award-winning California resort
Fans of Tilman Fertitta's nationwide hospitality brands are in for a treat. The Billion Dollar Buyer has just secured an award-winning, 30-acre resort in sunny Southern California.
Fertitta has purchased the acclaimed Montage Laguna Beach Resort Hotel, a premier beachfront property in the sunny SoCal getaway destination. Notably, the Montage Laguna Beach Resort Hotel is one of only six hotels in the U.S. to score the Forbes Triple Five-Star hotel status. The Montage has also been included among Travel + Leisure’s Top Hotels in the World.
“I am truly thrilled to acquire this world-renowned property and add one of America’s most iconic trophy resorts to our luxury hotel portfolio,” Fertitta said in a statement. “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. The Montage is a stunning oceanfront property and one of the premier hotel brands in the world.”
Press materials didn't list the property purchase price, but Law360 reports that the deal is in excess of $660 million.
The Craftsman-style resort sits on a coastal bluff overlooking the Pacific Ocean. Impressive amenities are highlighted by the 20,000-square-foot Spa Montage, which offers eucalyptus steam rooms, dry redwood saunas, ocean air whirlpools, fireplace lounges, a state-of-the-art fitness center, a movement studio, and a lap pool.
More outdoor fun includes two pools and direct beach access, a museum-quality fine art collection, and more than 20,000 square feet of indoor and outdoor meeting space, per press materials.
Every resident space — the 260 guestrooms, including 60 suites, beach bungalow-style rooms, and multi-bedroom villas — boast stunning views of the Pacific.
Dining destinations offer chef-driven interpretations of coastal California flavors inspired by region. The property is designated and included in the distinctive Legend Collection of Preferred Hotels & Resorts Worldwide.
“We are thrilled that Tilman is the new owner of this one-of-a-kind property and welcome him into the Montage family,” said Alan Fuerstman, founder, CEO, and chairman of Montage International. Mary Rogers, the Montage's GM added, “The staff is thrilled to be working with Tilman. Everyone here at the property is tremendously excited about his purchase and look forward to continuing to provide a world-class experience to all of our guests."
Aside from his palatial Post Oak Hotel in Houston, Fertitta also owns 14 other hotel properties around the country, including the award-winning San Luis Resort in Galveston, plus five popular Golden Nugget casino and hotel locations.
Another feather in Fertitta’s luxury portfolio cap is the iconic Huntting Inn, one of the most charming and historic locales in East Hampton, New York.
No stranger to California, Fertitta's presence there includes Catch Seafood and Catch Steak, Mastro’s Ocean Club and Mastro’s Steakhouse, Morton’s The Steakhouse, Del Frisco’s Double Eagle Steakhouse, The Palm, and more — all part of his 60 brands and more than 600 concepts nationwide.