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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.

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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Long Beach Air Traffic Down 5%

Long Beach Airport passenger declined 5% year-over-year in September—the first monthly decline this year.

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Marriott Irvine Spectrum Gets New GM

Marriott Irvine Spectrum named Dianne Markis general manager.

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2017 Tourism: $21 Billion

Local tourism last year produced $21.3 billion in economic impact, according to a new report from the Orange County Visitors Association.

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Hospitality Shows Go To OC Operator

Emerald Expositions Events Inc. (NYSE: EEX) bought several hospitality-focused trade shows, publications, and events from ST Media Group International and Hospitality Media Group on undisclosed terms.

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Spectrum Pharma Names CMO

Spectrum Pharmaceuticals Inc. (Nasdaq: SPPI) named Francois Lebel as chief medical officer, overseeing the company’s clinical program including directing clinical trials and development as well as regulatory submissions.

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Angels Opt Out of Lease

The Los Angeles Angels of Anaheim today opted out of their lease at Angel Stadium, where they have played home games since 1966.

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NB Hotel Operator to Add Three

Twenty Four Seven Hotels in Newport Beach will run three inland area hotels for Cerritos-based Soquel Rincon TPS LLC.

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Pacific Chorale Names CEO

Andrew Brown succeeds Elizabeth Pearson as president and chief executive of Pacific Chorale, resident of the Renée and Henry Segerstrom Concert Hall at Segerstrom Center for the Arts.

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Airport Up 6% in August

John Wayne Airport passenger traffic increased 6% year-over-year in August to 991,000 people; year-to-date passenger numbers are up 5.5% to 7.2 million.

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Chargers’ Spanos Dies

Los Angeles Chargers majority owner Alexander Gus Spanos died Tuesday morning. He was 95.

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Vizio Reaches $17M Settlement in TV Spying Lawsuit

Vizio Inc. has reached a $17 million preliminary settlement related to a class action lawsuit filed in Santa Ana in 2016 that alleged the Irvine-based company tracked the viewing habits and demographic information of its smart TV viewers and sold that data.

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Blizzard Cofounder Cedes President Role

Blizzard Entertainment Inc. cofounder and President Mike Morhaime is ceding his executive role to “World of Warcraft” Executive Producer J. Allen Brack.

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