5 Hotels Change Hands
- Share via
LAGUNA BEACH — Olympus Real Estate Corp., a Dallas-based real estate investment firm, has signed a purchase agreement to gain controlling interest in five luxury California hotels, including the Inn at Laguna Beach.
The properties were previously controlled by Chicago-based Huron Partners Inc. and managed by Coastal Hotel Group Inc. Olympus announced Friday it has formed a partnership to purchase the properties together with Huron and Coastal, which will maintain a minority stake in the hotels. The purchase price was not disclosed.
The new ownership group will be known as the Olympus/Coastal-California Partnership. In addition to the Inn at Laguna Beach, the partnership has agreed to purchase four Monterey hotels: the Hotel Pacific, the Monterey Bay Inn, the Spindrift Inn and the Victorian Inn.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
