San Manuel Band acquires interest in Waldorf Astoria Monarch Beach Resort
The Southern California luxury resort is the San Manuel Band’s latest addition to its portfolio.
US.- The San Manuel Band of Mission Indians has announced that its Manuel Investment Authority (SMIA), through affiliated entities, has acquired an interest in the newly renovated Waldorf Astoria Monarch Beach Resort & Club in Dana Point, Southern California. It has acquired approximately a 40 per cent interest in the property with the option to increase its ownership through one or more future transactions.
SMBMI chairwoman Lynn Valbuena said: “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.
“The stunning 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, added: “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 world-class offerings while providing an unparalleled experience to our discerning guests.”
The San Manuel Band of Mission Indians recently named Peter Arceo as chief gaming officer. Arceo assumed strategic leadership responsibilities for innovation and growth of the Tribe’s gaming portfolio, including its flagship Yaamava’ Resort & Casino at San Manuel in Southern California.
Arceo brings more than 28 years’ experience to the role. Before serving as general manager of Yaamava’ Resort & Casino, he was chief marketing officer, and later chief operating officer for San Manuel Casino.
California’s Jamul Casino announces new hotel expansion
The Jamul Indian Village Development Corporation (JIVDC), a subsidiary of the Jamul Indian Village (JIV) Tribe, has announced the expansion of Jamul Casino with a new luxury hotel. The 16-story boutique hotel will offer 200 rooms, including 52 suites.
It will be accompanied by a six-story parking structure with 350 parking spaces. Casino guests will directly access the hotel through a climate-controlled, enclosed pedestrian sky bridge. The hotel lobby will be home to an approximately 4,800-square-foot restaurant with views of the surrounding area.
