Orange County Hotel May Fetch Record Price

The Ritz-Carlton Laguna Niguel is on the market and may fetch a record price for an Orange County hotel, industry observers said.

Its owner, Chicago-based investor Strategic Hotel Capital, is selling off its assets, including the Dana Point property and the Park Hyatt in San Francisco, said hotel consultant Alan Reay of Atlas Hospitality.

The sellers hope to get close to $400 million for the 393-room hotel, according to Commercial Real Estate Direct, a real estate news service.

-- Roger Vincent