Montage’s portfolio includes resorts in destinations across the United States from Hawai’i to Montana, along with a resort in Los Cabos, Mexico.įor more, visit Montage. It’s the first major development to launch in Abaco since Hurricane Dorian. It is slated to debut in 2023, according to the company. The project will also offer direct seaplane access. The destination will only be accessible by boat, with a 10-minute trip from Marsh Harbour. It’s the newest project in The Bahamas for Sterling, whose pipeline includes the transformation of the Hurricane Hole Marina on Paradise Island into a mixed-use destination that includes a superyacht marina. I am confident that the combination of Sterling’s development expertise and Montage’s operational expertise will result in an unparalleled private island escape and community that will set a new standard for luxury living,” said David Kosoy, Executive Chairman & Founder of Sterling Global Financial. “We are honored to be partners with Montage International in the development of this spectacular project. We have designed the resort to take full advantage of the island’s natural beauty, setting the stage for one of the finest ultra-luxury resorts in the Caribbean.”Īmenities at the project will include a a dinner-only eatery, two beach bar and grilles lobby and pool bars and a full-service spa. “Surrounded by calm waters, warm breezes and panoramic beauty, Montage Cay will perfectly combine its breathtaking setting with signature Montage amenities and service. Fuerstman, Founder, Chairman and CEO of Montage International. “We are honored to partner with the team at Sterling Global to bring Montage Cay to life and introduce our first Caribbean resort,” said Alan J. Commanding a coveted front row position at the world-famous Montage Laguna Beach Resort with incredible ocean views, this undeniably impressive contemporary. It will also include a 46-slip marina with capacity for vessels up to 110 feet. The project, the first by Montage in the Caribbean, will include 50 all-suite accommodations, along with a collection of residences. The 48-acre private-island, which is owned in partnership with developer Sterling Global Financial, will entail the rebranding and “complete redevelopment” of the Matt Lowe’s Cay private island in Abaco. (Updates with Dajia declining to comment in fourth paragraph.Montage Hotels and Resorts is coming to the Caribbean, with plans for a private-island resort and residential community called Montage Cay in The Bahamas. In May, Dajia halted efforts to refinance a separate hotel portfolio, citing market volatility.ĭajia refinanced the Laguna Beach, Jackson Hole and Scottsdale hotels last year. Across all US hotels, revenue per available room increased 26% last week from the same period in 2019, before the pandemic, according to data from STR cited by Raymond James & Associates.Īt the same time, rising interest rates and uncertainty in capital markets could make it harder for a buyer to line up financing for a transaction. Now, Dajia is exploring a smaller transaction at a moment when lodging demand is surging in the US, especially at lavish resorts like the Laguna Beach, Jackson Hole and Scottsdale properties. That transaction, which included the three properties that Dajia may now sell, fell through in 2020 as the Covid-19 pandemic hobbled the hotel industry. In 2019, Anbang agreed to sell a group of 15 hotels to South Korea’s Mirae Asset Management Co. The properties were transferred to Dajia when the Chinese government restructured Anbang following that company’s collapse. The hotels are well-known in the lodging industry, both for their high-end locations and the recent saga surrounding their ownership. The hotels that could be sold include the Montage Laguna Beach in California and Four Seasons resorts in Jackson Hole, Wyoming, and Scottsdale, Arizona - a trio of properties that could bring in more than $1 billion, one of the people said.Ī representative for Dajia in New York declined to comment. Adventurous travelers may like the aerobics, Pilates, and cycling at this hotel. Located close to Dana Point Harbor and Doheny State Beach, Montage Laguna Beach provides 18 holes of golf, a poolside bar, and a free grocery shopping service. is exploring a sale of some of its luxury hotels, seeking to cash in on surging travel demand even as rising interest rates make financing real estate transactions more expensive.ĭajia, which took over most of the operations of China’s Anbang Insurance Group Co., is tapping advisers for a potential transaction, said people familiar with the process, who asked not to be named because the matter is private. Luxury family-friendly hotel refurbished in 2019 and located near Victoria Beach.
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