Montage, which launched in 2002 with a resort in Laguna Beach, California, currently operates eight hotels and generated $400 million in revenue last year.
Chief Executive Officer Jon Bortz said he remained bullish on the West coast and that the additional asset sales would probably increase Pebblebrook’s concentration in the market, meaning the sales would come from other regions.
Hurricane Florence could cause as much as $60 billion in damage, CNBC reports. A Forbes contributor details lessons learned from his firm’s worst real estate deal. These are among today’s top must reads from around the commercial real estate industry.
