The San Manuel Investment Authority (SMIA) has acquired an ownership interest in the recently restored Waldorf Astoria Monarch Beach Resort & Club in Dana Point, California, through its related organisations, according to the San Manuel Band of Mission Indians (SMBMI).
Waldorf Astoria Monarch Beach, one of Southern California's luxury resort destinations, will be the newest property to be added to the tribe's growing collection.
Lynn Valbuena, SMBMI Chairwoman, said: “The coastal setting, along with its exceptional guest service and amenities, are features that our Yaamava' and Palms guests will enjoy. 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."
G. Christopher Smith, Founder and CEO of Ohana Real Estate Investors, said: "We are proud to join forces with San Manuel to advance the growth of this wonderful asset.
"San Manuel and Ohana share a common vision for Waldorf Astoria Monarch Beach's future, one where we will continue to elevate its offerings while providing an unparalleled experience to our discerning guests."
SMIA has a roughly 40% ownership interest in the Waldorf Astoria Monarch Beach, with the potential to acquire further shares through one or more deals in the future.
The Waldorf Astoria Monarch Beach features 400 newly remodelled guest rooms and suites, a private beach club, seven dining options, including Michael Mina's Bourbon Steak, the Waldorf Astoria Spa & Salon, three pools, the indoor and outdoor meeting and event spaces and an 18-hole championship golf course.
Meanwhile, when the San Manuel Gaming & Hospitality Authority, a Tribal government agency, bought the Palms Casino Resort and reopened it in April 2022, making history by being the first Native Americans to own and run a casino resort in Las Vegas.
