{"id":1004135992,"date":"2016-02-01T06:05:02","date_gmt":"2016-02-01T14:05:02","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004135992"},"modified":"2020-04-24T06:00:37","modified_gmt":"2020-04-24T14:00:37","slug":"ares-montage-deal-a-sign-of-ultra-luxury-hotel-segment-growth","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ares-montage-deal-a-sign-of-ultra-luxury-hotel-segment-growth\/","title":{"rendered":"Ares-Montage Deal a Sign of Ultra-Luxury Hotel Growth"},"content":{"rendered":"<p>By Scott Baltic, Contributing Editor<\/p>\n<div id=\"attachment_1004135994\" style=\"width: 145px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/02\/Kasia-Russell-HVS.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004135994\" data-attachment-id=\"1004135994\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ares-montage-deal-a-sign-of-ultra-luxury-hotel-segment-growth\/kasia-russell-hvs\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/02\/Kasia-Russell-HVS.jpg\" data-orig-size=\"135,180\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Kasia Russell, HVS\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Kasia Russell, HVS&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/02\/Kasia-Russell-HVS.jpg?w=135\" class=\"size-full wp-image-1004135994\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/02\/Kasia-Russell-HVS.jpg\" alt=\"Kasia Russell, HVS\" width=\"135\" height=\"180\" \/><\/a><p id=\"caption-attachment-1004135994\" class=\"wp-caption-text\">Kasia Russell, HVS<\/p><\/div>\n<p>Last week\u2019s announcement that a real estate fund managed by <a href=\"https:\/\/www.aresmgmt.com\/\" target=\"_blank\" rel=\"nofollow\">Ares Management LP<\/a>\u00a0had made a strategic investment in luxury hospitality management company <a href=\"https:\/\/www.montagehotels.com\/\" target=\"_blank\" rel=\"nofollow\">Montage Hotels &amp; Resorts<\/a> underscores the strength of the ultra-luxury hospitality segment, says a hotel industry expert.<\/p>\n<p>As part of the deal, Ares will purchase a minority stake of up to 20 percent in Montage and will also provide up to $200 million in future growth capital to Montage, focusing on the continued expansion of its portfolio of Montage- and Pendry-branded hotels and resorts.<\/p>\n<p>Montage\u2019s founder, largest shareholder, CEO and chairman, Alan J. Fuerstman, will remain in those capacities, and all original investors in Montage Hotels &amp; Resorts, including Ohana Real Estate Investors, also remain invested. Jay Glaubach, an Ares managing director and co-portfolio manager of Ares\u2019 opportunistic real estate funds, is joining the Montage board.<\/p>\n<p>\u201cMontage continues to achieve superb financial results,\u201d Glaubach said in a prepared statement. \u201cWe see tremendous growth opportunities for the company\u2026.\u201d<\/p>\n<p>This is the second Ares investment with Montage Hotels &amp; Resorts. Funds managed by Ares made an investment in Pendry San Diego, the first property in Montage\u2019s new luxury lifestyle brand, Pendry Hotels. The new hotel <a href=\"https:\/\/www.commercialsearch.com\/news\/financing-in-place-for-gaslamp-quarter-hotel-montages-1st-pendry-branded-property-2\/\" target=\"_blank\">will debut in San Diego\u2019s historic Gaslamp District<\/a> next fall.<\/p>\n<p>Montage\u2019s portfolio includes Montage Laguna Beach, Montage Beverly Hills, Montage Deer Valley, Montage Kapalua Bay, Montage Palmetto Bluff and, opening in late 2017, Montage Los Cabos. The company also operates premiere golf courses, including Spanish Peaks Mountain Club in Big Sky, Mont., and The May River Golf Club in Bluffton, S.C.<\/p>\n<p>Though perhaps not as well known, Montage operates among a stratospheric group of competitors and peers. These include Four Seasons, Aman Resorts, Peninsula Hotels, Ritz-Carlton, Fairmont Hotels &amp; Resorts, Rosewood Hotels &amp; Resorts, Mandarin Oriental, St. Regis, Shangri-La and Park Hyatt, Kasia Russell, MAI, managing director and senior partner in Consulting &amp; Valuation at <a href=\"https:\/\/www.hvs.com\/\" target=\"_blank\" rel=\"nofollow\">HVS<\/a>, told CPE.<\/p>\n<p>\u201cThe ultra-luxury travel segment has continued to do very well into 2015,\u201d she continued, \u201cwith demand growth attributed to two major factors: emerging market travelers from regions including the Middle East and China and a general \u2018return\u2019 to the luxury market after the financial crisis. A resurgence of incentive travel (groups and meetings) has also contributed to the segment\u2019s demand growth.\u201d<\/p>\n<p>However, Russell cautioned that \u201cThere is some floating concern here in the United States for 2016 about what impact the strength of the dollar will have on the luxury segment. Given the large percentage of travelers who originate from markets outside of the U.S., there may be some tempering.\u201d<\/p>\n<p>\u201cAnother important factor to consider for this segment is that the&#8230;barriers to entry for assets like these are quite high, as location and quality are of the utmost importance, and development costs are high.\u201d<\/p>\n<p>Russell remains positive overall about the segment, \u00a0saying, \u201cIn terms of average rate, this segment has been successful at increasing rates consistently since 2010, with the strongest growth patterns noted in 2014 and 2015. Barring any unforeseen events, 2016 and 2017 should continue to experience consistent average rate growth in this segment.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What does Ares Management&#8217;s recent announcement of its minority stake purchase in Montage Hotels &#038; Resorts say about the investment opportunities in the ultra-luxury hotel sector?<\/p>\n","protected":false},"author":882,"featured_media":1004135994,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21751,21783,23891,21742],"tags":[],"class_list":["post-1004135992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-hotel","category-investment","category-national","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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