Strategic Hotels & Resorts has sold the Ritz-Carlton, Laguna Niguel to private equity firm KSL Capital Partners for $600 million, marking the largest hotel sale in Orange County history.
The Dana Point hotel traded hands for $1.6 million per room, according to CoStar, which assessed the property’s value at $447.6 million earlier this year. The deed lists the real estate portion of the transaction at $378 million. KSL declined to comment on the deal.
Management firm Peregrine Hospitality, previously known as KSL Resorts and based in Denver, will operate the four-story Ritz-Carlton on behalf of the new owner, CoStar reported. Marriott International will continue to manage the resort.
Peregrine, which rebranded from KSL Resorts in 2025, was involved in Orange County’s previous record sale of the Waldorf Astoria Monarch Beach Resort & Club to Ohana Real Estate Investors. The 400-room resort traded for nearly $500 million at the end of 2019.
The Ritz-Carlton, which opened in 1984, would also be KSL Capital’s first investment in the Orange County market. The private equity firm has invested in high-end leisure properties and travel-related companies in the U.S., Latin America, Europe and Asia-Pacific since 1992.
It currently counts 37 investments, ranging from the Camelback Resort in Pennsylvania’s Pocono Mountains to Hawaii-based Outrigger Hospitality Group.
A Multimillion-Dollar Renovation
KSL Capital’s purchase of the Ritz-Carlton was the firm’s second transaction this year. It also acquired Invited Clubs, a Texas-based owner and operator of more than 150 private golf and country clubs, in June.
The Ritz-Carlton, Laguna Niguel last sold in 2015 as part of China-based Anbang Insurance Group’s $5.5 billion acquisition of the Strategic Hotels & Resorts portfolio.
The Ritz’ $50 million renovation was undertaken at the request of General Manager Kelly Steward, who declined to comment on the sale. Among the most notable additions were 10 two-bedroom suites featuring a dining room, kitchenette and living room, with ocean views through new floor-to-ceiling glass doors.
“This investment has been incredible,” Steward told the Business Journal on a tour in late 2025. “I think that’s given us a lot of vitality and I would say a lot of vim and vigor for, what do we need to do next?”
The 373-key oceanfront property, perched atop a seaside bluff, ranks as Orange County’s 28th-largest hotel by room count.
“The Newport Beach/Dana Point submarket represents Orange County’s premier coastal lodging destination, characterized by a concentration of luxury resorts, high barriers to entry, and one of the most affluent visitor bases in Southern California,” according to CoStar analytics.
The region supports “some of the highest lodging rates in Orange County,” which CoStar said contributes to limited turnover in hotel ownership.
CoStar reported the submarket’s 12-month occupancy rate at 71% as of September, with a 12-month average daily rate of $300 and revenue per available room — both occupied and vacant rooms — of $220 per night.