The five-star Monarch Beach Resort in Dana Point — where an average night will cost you $380— has changed ownership again, this time selling for nearly a half-billion dollars.
The decade’s tourism boom has made hotels extremely tradable. Hotel specialists Ohana Real Estate Investors from Redwood City acquired the 400-room luxury hotel from Denver-based KSL Capital Partners in October for $497 million, according to a report from financial analysts at DBRS Morningstar.
The blufftop resort, across the Pacific Coast Highway from the Pacific Ocean, sits on 162 acres — plus a 6.11-acre private beach club. Its portfolio of top-shelf offerings includes eight eateries, four retail shops, 120,500 square feet of meeting space, a full-service spa, three swimming pools, not to mention its own 18-hole golf course.
But at $1.24 million per room, is all that glitz a good value?