January 28, 2016
A real estate fund affiliated with Los Angeles-based Ares Management LP is reportedly purchasing up to a 20 percent stake in Montage Hotels & Resorts LLC. The deal injects as much as $200-million into the Irvine-based hospitality manager, for acquisition and development growth.
Montage operates properties in Laguna Beach and Beverly Hills under the Montage brand, as well as urban lifestyle hotels under the Penury brand. The company manages five properties, and is actively building new resorts and hotels for both brands.
The largest investors in Montage are Alan Fuerstman, founder and chief executive, Pierre Omidyar, eBay founder, and Ares.