Dana Point’s ritzy St. Regis Monarch Beach Resort will get a new owner next month if a foreclosure-driven sale moves forward.
An affiliate of New York-based Citigroup Inc. is moving to foreclose on the 400-room hotel, one of Orange County’s highest-profile luxury resorts.
The resort, which sits next to Pacific Coast Highway near the border of Dana Point and Laguna Beach, counts three swimming pools, eight tennis courts, and a number of upscale restaurants, among other amenities.
A sale of the property also would include the Robert Trent Jones Jr.-designed Monarch Beach Golf Links.
Officials reported seeing a 20% drop in business in the months following AIG’s well-publicized corporate outing at St. Regis last fall.
