Sunstone Sells Orange County Hotel for $125MBy
Newport Beach, Calif.—Sunstone Hotel Investors Inc. announced the sale of the Fairmont Newport Beach hotel to Marriott for $125 million. Eastdil Secured acted as exclusive advisor to Sunstone on the sale.
Renamed The Duke Hotel Newport Beach, the 444-key asset comprises 10 floors, 411 rooms and 33 suites. Amenities include 17 meeting rooms at 23,498 square feet, a fitness center, tennis court, outdoor pool, spa, a business center, two ballrooms, two restaurants, an airport shuttle and the Bamboo Garden, a 10,000-square-foot outdoor function space that is adjacent to the ballrooms and includes a water feature, fireplace and fire pit. The property is 1.2 miles from John Wayne Airport and 4.2 miles from the Fashion Island shopping center…
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