Ohana Real Estate Investors has sold a partial ownership stake of the Waldorf Astoria Monarch Beach Resort & Club to the San Manuel Band of Mission Indians (SMBMI).
The 400-room property, one of the higher-end resorts in Orange County, was initially acquired by Ohana for nearly $500 million in 2019, and later rebranded into the Waldorf Astoria under Hilton.
San Manuel now holds an approximately 40% interest in the Dana Point hotel, ranked as Orange County’s 18th largest hotel. SMBMI has the option to increase its stake in the future, it said.
“Investing in a luxury destination resort such as Waldorf Astoria Monarch Beach represents another milestone for our Tribe, enabling us to continue executing our long-term diversification strategy,” SMBMI Chairwoman Lynn Valbuena said in a statement.
San Manuel, an indigenous tribe located in the San Bernardino region, counts four other hotels in its portfolio.
Ohana has owned other high-end hotel properties in Orange County such as the Montage Laguna Beach.
For more on the deal, see the June 12 print edition of the Business Journal.
