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Montage, Ritz Up For Sale, Again

$1B Valuation, But Distressed Seller May Cut PriceTwo of Orange County’s poshest coastal resorts are back on the block and might be worth nearly $1 billion combined based on a hot hotel market and the properties’ prominence.

Grippo’s New Berth: Bellwether, Dana Point

Bellwether Financial Group in Newport Beach named Ralph Grippo a principal, the company said.

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Hotels Continue Strong

Local hotels, countering some expectations that the hospitality market was cooling, kept up a year of strong performance in October in the county overall and seven OC submarkets.

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Disneyland SVP to Hong Kong

Disneyland Resort Senior Vice President of Operations Stephanie Young will replace Hong Kong Disneyland Managing Director Samuel Lau Wing-kee, reporting to Michael Colglazier, president and managing director of Walt Disney Co.’s parks and resorts in Asia.

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Long Beach Airport's Romo Retires

Long Beach Airport Director Jess Romo will retire effective Jan. 31.

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JWA October Air Traffic Down

John Wayne Airport had 907,000 passengers in October, down 2.5% year-over-year; commercial flights declined 1.4% to about 4,000.

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AC Hotel GM Heads South

AC Hotel Irvine General Manager Paul Maddison was named to the same post at Estancia La Jolla Hotel & Spa, and Irvine-based Pacific Hospitality Group, which runs both properties for investor groups it participates in, will hire a new GM in Irvine.

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Fresh Marketing for El Pollo Loco

Costa Mesa-based El Pollo Loco Holdings Inc. (Nasdaq: LOCO) named Hector Muñoz chief marketing officer ahead of an expected spring 2019 relaunch of the brand.

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New Editorial Leadership At Business Journal

The Orange County Business Journal is making changes to its editorial department.

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JWA Traffic Ticks Up; JetSuiteX Takes Off

September passenger traffic at John Wayne Airport was up 0.4% year-over-year to 857,000 while commercial flights were down 0.7% to about 3,800 for the month.

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Philanthropy Day Honors Zhangs, Ueberroths

OC’s chapter of the Association of Fundraising Professionals honored nine of the county's outstanding givers at the annual National Philanthropy Day luncheon Thursday before a crowd of 700 at City National Grove in Anaheim—part of a day of recognition, nationwide.

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Buena Park Group in Hotel Deal

Harbor Hotels LLC, an Arizona family investment group affiliated with Cornerstone Hotel Group LLC in Buena Park, bought the Courtyard by Marriott near Long Beach Exchange, a shopping and entertainment development, from Delaware-registered Mach II Chartres Long Beach.

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Next Pendry: Utah, Near Montage

Pendry Hotels plans to build a ski resort in the Canyons Village area of Park City, Utah, about five miles from Montage Deer Valley, a resort run by Pendry sister company Montage Hotels & Resorts.

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General Counsels Honored

A crowd of more than 400 members of Orange County’s corporate and legal communities gathered to honor this year’s top in-house lawyers at the Business Journal’s ninth annual General Counsel Awards.

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Disney Resorts Q4 Revenue Up 9%

Walt Disney Co.’s parks and resorts division, which includes Anaheim’s Disneyland Resort, said fourth quarter profit climbed 11% to $829 million as revenue rose 9% to $5.1 billion from the same period a year earlier.

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OC Hotel Occupancy Dips in September

Several Orange County hotel submarkets in September showed lower average daily rates and revenue per available room year-over-year, and five of seven showed lower occupancy, which also fell countywide to 77% from 80% for the same month last year.

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