Dana Point landmark Ritz-Carlton, Laguna Niguel resort sells for $600 million

One of Southern California’s premier seaside resorts, the Ritz-Carlton, Laguna Niguel, has been sold for an estimated $600 million as the top end of the state’s hotel market continues to thrive. The luxury inn, where rooms start at about $1,300 a night, was one of Orange County’s first large-scale oceanfront resorts when it opened in 1984 on a bluff overlooking the Pacific in Dana Point. Its new owner is Denver private equity firm KSL Capital Partners, which invests in high-end leisure destination properties such as a 17th century castle resort in Scotland, Camelback Resort in Pennsylvania’s Pocono Mountains and the Westin Hilton Head Island Resort & Spa in South Carolina. The recent sale of the Ritz-Carlton, Laguna Niguel, was valued at $600 million by hotel industry analyst and broker Alan Reay, president of Atlas Hospitality, based on recent appraisals and comparable sales of other resorts. “Trophy properties in irreplaceable locations still command a premium in today’s market,” Reay said. “The properties that are doing the best are in the higher-end luxury division. People that have money are still traveling and are willing to pay the prices that you have to pay to stay at ...