Expanding its resort portfolio, the San Manuel Band of Mission Indians (SMBMI) announced its acquisition of an ownership interest in the newly renovated Waldorf Astoria Monarch Beach Resort and Club in Dana Point.
The SMBMI’s approximately 40% interest in the Waldorf Astoria Monarch Beach includes the option to increase its ownership through future transactions.
“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 Chairperson Lynn Valbuena said in a media release.
“The stunning coastal setting, along with its exceptional guest service and amenities, are features that our Yaamava’ and Palms guests will enjoy,” Valbuena continued. “We are excited to partner with Ohana Real Estate Investors and impressed with Hilton and Waldorf Astoria’s strategic repositioning of the property over recent years.”
SMBMI also owns and operates Yaamava’ Resort and Casino at San Manuel on the Tribe’s Reservation in Highland and the Palms Casino Resort in Las Vegas.
The Palms Casino Resort reopened under the San Manuel Gaming and Hospitality Authority (SMGHA) ownership in April 2022.
According to the media release, SMGHA became the first Native American owners and operators of a Casino Resort in Las Vegas with the reopening of the Las Vegas resort.
Ohana Real Estate Investors purchased the hotel property in 2020 and renovated its 400 guest rooms and suites. Ohana sold an ownership interest in the blufftop resort, which includes a private beach club, seven dining options, three pools, indoor and outdoor meeting and event spaces and a 19-hole championship golf course.
“We are proud to join forces with San Manuel to advance the growth of this wonderful asset,” Founder and CEO of Ohana Real Estate Investors G. Christopher Smith said in a media release.
“San Manuel and Ohana share a common vision for Waldorf Astoria Monarch Beach’s future, one where we will continue to elevate its world-class offerings while providing an unparalleled experience to our discerning guests.”
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