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Monday, Jul 15, 2024
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Montage International Gains New Investors

Shareholder Ohana Real Estate exits

Newport Beach-based hospitality operator Montage International reported it has received a new investment made up of support from firms Luxor Capital Group, Goldman Sachs Asset Management and BlackRock Inc.

The transaction marks the departure of Austin-based Ohana Real Estate Investors as a minority shareholder.

Alan Fuerstman, Founder/CEO, Montage International

Montage International, which oversees luxury properties from both Montage and Pendry Hotels & Resorts, said it plans to scale its business to more international markets with the support from its new investors.

“Our partnership will spur the next stage of the company’s growth in the United States and beyond for both the Montage and Pendry brands,” Founder and Chief Executive Alan Fuerstman said in a statement.

The local hospitality group manages 17 properties across the Montage and Pendry brands. Ohana maintains ownership of three Montage hotels and currently owns the Waldorf Astoria Monarch Beach Resort & Club in Dana Point.

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