Chicago-based Strategic Hotels & Resorts Inc. bought the Montage Laguna Beach for $360 million, the hotel investor said.
The 250-room, oceanfront resort traded hands for a little more than $1.4 million a room, one of the highest per-room prices ever seen for a California hotel.
Ohana Real Estate Investors LLC, an investment group funded by eBay founder Pierre Omidyar, was the seller.
Strategic also owns the nearby Ritz-Carlton, Laguna Niguel.
The deal is being funded with $100 million of common stock, and Strategic Hotels is assuming a $150 million mortgage as part of the transaction.
Irvine-based Montage Hotels & Resorts will continue to manage the resort.
