Hilton Grand Resort Owners Seek Investment Partners

The owners of the Hilton Grand Resort in Huntington Beach are looking for a finance partner to help pay construction costs for the 520-room hotel next door to the Hilton Waterfront Beach Resort on Pacific Coast Highway. “There’s no intention of selling the properties,” said Steve Bone, a managing partner at the Robert Mayer Corp. in Newport Beach, which owns both hotels. If another partner is found, Bone said Mayer will retain a dominant interest in the properties. Completing new projects becomes more expensive as interest rates rise, requiring borrowers to put up more equity, said Alan Reay, an analyst at the Atlas Hospitality Group of Costa Mesa.