The 500-acre crown jewel of Irvine Company holdings will be managed by Marriott.
Donald Bren’s The Resort at Pelican Hill in Newport Beach will become a St. Regis.
The sprawling resort, including the Pelican Hill Golf Club, will be managed by Marriott International under its luxury group starting on July 1. The 504-acre resort will later join the St. Regis brand, according to sources. Marriott owns the luxury hotel chain St. Regis. Bren’s Irvine Company will continue as the long-term owner of the property. Marriott plans to retain most of the resort’s employees.
The Irvine Company said the decision followed a “strategic review” of its operations to improve the 5-star experience in order to enhance the resort as a sought-after destination for guests, according to communication obtained by The Real Deal.
Bren is the wealthiest real estate developer in the U.S. and among the wealthiest people in the country, according to Forbes. The publication pegs his net worth at $17.4 billion. His firm owns 129 million square feet, including 590 office buildings, 125 apartment complexes with 65,000 units, 40 shopping centers, and five marinas. Bren is the majority owner of the MetLife building in Manhattan.
The Resort at Pelican Hill is one of The Irvine Company’s crown jewels. Located at 22701 Pelican Hill Road South, the resort sits along the coast of Newport Beach overlooking the Pacific Ocean and has 204 bungalows, 128 villas, and two 18-hole golf courses on the property. It’s noted for its “Coliseum Pool ” with a blue bottom created by 1.1 million hand-cut glass mosaic tiles.
Rates range from $1,095 to more than $5,000 per night, according to the resort’s website. A special extended stay program offers two-bedroom villas for $28,500 to $75,000 per month, or a three-bedroom for as much as $90,000 per month.
