The beautiful St. Regis has a temporary new owner...The bank! Citibank.  Keeping with the foreclosure theme across the country the St. Regis is now owned by Citibank after the bank foreclosed on it's owners in July.  Yes, the hotel that hosted the AIG executive bash after the FED bailed out AIG is now owned by the Citibank that the FED helped bail out too!  CRAZY STUFF!

The good news is Starwood resorts will continue to manage the resort and keep everything running at a 5 star level. If you haven't been to the St. Regis it is trully a beautiful resort and golf course.  It will only be a matter of time until a new owner takes over.  Below are some quotes from Citibank and Starwood regarding the 5 star resort.  The biggest bonus I see is the bank is committed to keeping the hotel operating at a 5 star level, which benefits the guest and the community.  

  • Says Citi …

“Citi has acquired ownership of the St. Regis Monarch Beach through foreclosure against the previous owner. The acquisition will have no impact on the hotel, golf club or beach club, which will continue to operate at the highest standards of service seamlessly and without interruption for guests and employees. Starwood’s St. Regis brand will continue to be responsible for the day-to-day management of the properties.”

  • Says Starwood …

The St. Regis Monarch Beach opened in 2001 and quickly established itself as the state’s premier luxury hotel host to high profile events, tastemakers and global travelers.  Citi and St. Regis are communicating to the community, associates, guests and meeting planners that the change in ownership will not impact hotel operations.

“The St. Regis won’t skip a beat in providing the bespoke signature services that have made the property one of the most exclusive resorts in North America,” said Johnny So, General Manager of the St. Regis Monarch Beach Resort.  “We remain committed to providing our guests with a flawless experience at every turn, and we are proud, that despite the challenging economic times, the St. Regis Monarch Beach continues to gain market share and is outperforming its competitive set.” 

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