IE Business Daily Business news for the Inland Empire.
The San Manuel Band of Mission Indians has purchased 40 percent of the Waldorf Astoria Monarch Beach Resort & Club in Dana Point,
The purchase by the tribe’s investment authority includes an option that will allow it to increase its ownership through future transactions, according to a statement on the tribe’s website.
The cost of the purchase was not disclosed.
Waldorf Astoria Monarch Beach overlooks the Pacific Ocean. It has 400 guest rooms and suites, a private beach club, the Waldorf Astoria Spa & Salon, three pools, and an 18-hole golf course.
“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,” said tribal Chairwoman Lynn Valbuena in the statement.
