DANA POINT, Calif. (BUSINESS WIRE) -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) announced today that The St. Regis Monarch Beach resort will continue to operate business as usual following a consensual transfer by its owner to Citi, the lender, which now owns the 400-room hotel.
In a statement issued today, Citi affirmed that the St. Regis brand will continue to manage the hotel and said, "The acquisition will have no impact on the hotel, golf club or beach club, which will continue to operate at the highest standards of service seamlessly and without interruption for guests and employees."
California's only five star, five diamond resort, The St. Regis Monarch Beach opened in 2001 and quickly established itself as the state's premier luxury hotel host to high profile events, tastemakers and global travelers. Citi and St. Regis are communicating to the community, associates, guests and meeting planners that the change in ownership will not impact hotel operations.
"The St. Regis won't skip a beat in providing the bespoke signature services that have made the property one of the most exclusive resorts in North America," said Johnny So, General Manager of the St. Regis Monarch Beach Resort. "We remain committed to providing our guests with a flawless experience at every turn, and we are proud, that despite the challenging economic times, the St. Regis Monarch Beach continues to gain market share and is outperforming its competitive set."
St. Regis Monarch Beach and Resort is fully operational, including its popular destination bars as well as award-winning restaurants and Spas - Club 19, Stonehill tavern, Motif Restaurant, and Spa Gaucin.
Combining classic sophistication and modern luxury, the St. Regis brand remains faithful to its commitment to excellence. Founded by John Jacob Astor IV, with the opening of the first St. Regis Hotel in New York City over a century ago, The St. Regis brand of hotels is known for its unique luxury dimension, customized service and refined elegance, in the best destinations worldwide. Plans for this brand to globally continue its legacy include long-awaited St. Regis properties in Bahia Beach, Puerto Rico, Bal Harbour, Deer Crest and Hawaii in the US, and on the exclusive island of Bermuda. In Latin America St. Regis plans to unveil new hotels and resorts in Buenos Aires, Kanai Riviera, and Mexico City. St. Regis has also announced plans to open properties in Bangkok, Chengdu, Kuala Lumpur, Lhasa, Nanjing, Osaka, Sanya Yalong Bay and Tianjin. In Africa and the Middle East, the St. Regis brand will continue to expand in Abu Dhabi, Cairo, Doha and Mauritius. The distinctive trait of the St. Regis experience is customized service and attention, coveted locations and luxurious design.
SOURCE: Starwood Hotels & Resorts Worldwide, Inc.