San Manuel Tribe acquires ownership interest in Waldorf Astoria Resort
The San Manuel Band of Mission Indians becomes co-owner, alongside Ohana Real Estate Investors, of the Monarch Beach Resort & Club in California.
The San Manuel Investment Authority (SMIA), run by the San Manuel Band of Mission Indians (SMBMI) has acquired an ownership interest in a new property by teaming up with Ohana Real Estate Investors. The Waldorf Astoria Monarch Beach Resort & Club has undergone recent renovations and has received a AAA Five-Diamond rating.
SMBMI Chairwoman, Lynn Valbuena, said, “Investing in a luxury destination resort such as Waldorf Astoria Monarch Beach represents another milestone for our Tribe, enabling us to continue executing our long-term diversification strategy.
“The stunning coastal setting, along with its exceptional guest service and amenities, are features that our Yaamava’ and Palms guests will enjoy.”
The Tribe owns and operates Yaamava’ Resort & Casino, just over an hour away, at San Manuel on the Tribe’s Reservation in Highland, California. In April 2022, Palms Casino reopened under the Tribe’s direction as the first Native-American-owned casino resort in Las Vegas.
SMBMI’s investment accounts for nearly 40% interest in the Waldorf Astoria property, though it has the potential to increase that ownership percentage via transactions in the future.
G. Christopher Smith, Founder and CEO of Ohana Real Estate Investors, said, “We are proud to join forces with San Manuel to advance the growth of this wonderful asset.
“San Manuel and Ohana share a common vision for Waldorf Astoria Monarch Beach’s future, one where we will continue to elevate its offerings while providing an unparalleled experience to our discerning guests.”
The resort’s amenities include: 400 refurbished guest rooms and suites, seven dining options, an 18-hole golf course, event space, three pools and a private beach club.
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