NEW YORK: Maybourne Hotel Group, a Qatari-backed firm, is closing in on a deal for the Montage Beverly Hills, a five-star hotel in the heart of the California city’s luxury shopping district, people with knowledge of the discussions said.
A purchase could be completed as soon as this week, said the people, who requested anonymity because the matter is private. Bloomberg reported last month that an unnamed Middle Eastern buyer had made a deposit on the 201-room property, currently owned by Ohana Real Estate Investors, in a deal that would value it at more than US$400mil.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
