The shuttered Trend Island Resort in Newport Middle will reopen following calendar year as the Pendry Newport Seaside.
Orange County-primarily based Eagle 4 Companions and Montage International have inked a deal with the Irvine Firm, owner of the Newport Seaside assets at 690 Newport Center Dr., to rebrand the 20-story, oceanfront resort, the Orange County Business Journal described.
The 295-place hotel, with 22,000 sq. toes of meeting space, is expected to get a renovation just before reopening in the summer season of 2023.
Newport Beach-primarily based Eagle Four Associates – a personal equity firm whose resort and resort portfolio features the Balboa Bay Resort & Club, Newport Seaside Country Club and the Paséa Resort & Spa in Huntington Seaside – has struck a deal on the Vogue Island Hotel for an undisclosed sum.
Irvine Corporation, also primarily based in Newport Beach and owner of much of Newport Center, claimed previous calendar year that it would “retain ownership of the land and enter into a lengthy-time period lease” with a leading operator as section of the transaction, the newspaper documented.
The Irvine Firm shut the Trend Island Hotel, in addition to its Lodge Irvine around John Wayne Airport, in spring 2020 mainly because of the coronavirus pandemic.
Irvine-primarily based Montage Global, a luxury lodge and management firm launched 20 many years in the past by Alan Fuerstman, will remake the Newport Centre lodge less than its Pendry Hotels & Resorts model. Pendry, launched in 2017, has 9 spots across the U.S., which include hotels in West Hollywood, San Diego and New York.
Pendry aims to change its most recent lodge in Newport Seashore into a key location for meal and beverages – as perfectly as a “staycation” spot for the area community – on top rated of the enterprise and tourism trade of Newport Heart. An interior redesign will be carried out by Studio Munge, with architecture by WATG and landscaping by Burton Studio.
“It’s a terrific piece of architecture with enough scale and mass to make something remarkable. Our task as hoteliers is to shape what the future vision for this up coming residence will be,” claimed Pendry co-founder Michael Fuerstman, Alan’s son.
The Vogue Island Hotel was constructed by the Irvine Co. in 1986. It was run by Four Seasons until eventually the Irvine Co. took about administration in 2005 and renamed it Island Resort Newport Seaside. 4 decades ago, it was rebranded underneath the Manner Island identify.
Montage Global, which manages 7 homes under the Montage identify, past 12 months sold its 130-room Montage Healdsburg to Irvine-primarily based Sunstone Hotel Buyers Inc. for $265 million, amongst the priciest hotel bargains in the state on a for each-space basis.
Eagle 4 Partners is now turning the previous Newport Seashore Marriott Hotel & Spa into a new Marriott-branded hotel called Vea Newport Seashore. In 2020, Eagle 4 and yet another investor purchased the 400-place resort for $216 million, the major hotel offer in the state that calendar year.
[OCBJ] – Dana Bartholomew