London’s Maybourne Hotel Group has acquired from Ohana Real Estate Investors the Montage Beverly Hills for about a reported US$400 million, according to a Bloomberg report.
The deal marks the first expansion for the Qatari-back business beyond London, where it owns Claridge’s, the Connaught and the Berkeley. Other global expansion plans are expected to be announced soon, according to Maybourne leader Paddy McKillen.
Constellation Hotels, linked to former Qatari prime minister Sheikh Hamad bin Jassim Al Thani’s family office, bought a 64% stake in Maybourne in 2015 from the billionaire Barclay brothers, and now plans to renovate and reposition the Montage.
The Montage, located in Beverly Hills’s Golden Triangle neighborhood, has a 20,000-square-foot spa and a rooftop pool overlooking Rodeo Drive. Weekend rates at the hotel range from US$595 a night for a king room to US$10,000 for the most expensive suites.