Home > Ritz-Carlton Laguna Niguel sold for $330 million

Ritz-Carlton Laguna Niguel sold for $330 million

By Paul Johnson on May 22, 2006 in Accommodation, California, Hotels, North America, Regions, USA

Strategic Hotels & Resorts Inc., a real estate investment trust based in Chicago, has announced that it’s buying the 393-room Ritz-Carlton Laguna Niguel hotel for $330 million. The sum equates to about $840,000 per room and is the second biggest hotel acquisition in California, bettered only by the sale of the historic Hotel del Coronado near San Diego last February for $745 million, or a record $1 million per room.

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