The prestigious Montage Beverly Hills hotel has sold for the estimated price of $415 million to a British hotel company.
Maybourne Hotel Group announced it had purchased the famed property, the company’s first hotel outside of London, but did not provide a purchase price. The seller was Redwood City-based Ohana Real Estate Investors.
Alan Reay, president of Atlas Hospitality Group, said the purchase price for the 201-room Montage was $415 million. That makes it the highest per-room sale price in 2019 and a record per-room price in California.
“It’s Beverly Hills,” Reay said. “It is one of the most desirable areas in the entire United States. (There are) huge barriers to entry (in the market), it is a trophy hotel, and it’s purchased by a company out of London that really only specializes in trophy hotels.”