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BREAKING: Fashion Island Hotel purchased, to be rebranded Pendry Newport Beach

By GARY SHERWIN

Local investment firm Eagle Four Partners today announced that they have purchased the former Fashion Island Hotel and will rebrand it as the Pendry Newport Beach, part of the Montage International chain.

It will open in Summer 2023 after a significant renovation.

The acquisition is one of the most remarkable tourism stories to have hit Newport Beach given that Eagle Four, with offices in Newport Center, now owns three of the most exclusive hotel properties in the city as well as the Newport Beach Country Club. The company also has other holdings as well, including the Denver Sheraton, one of that city’s largest hotels.

Earlier this year, the company announced the purchase of the Newport Beach Marriott Hotel & Spa with Lyon Living and launched a significant multi-million luxury repositioning of the property which is now called VEA Newport Beach. It is currently under construction with a completion date scheduled for this Spring.

Pendry is a relatively new brand with six other properties in the country, two of which are in San Diego and West Hollywood. It is a part of the same brand that flags the Montage Laguna Beach, one of the most fashionable luxury properties in Orange County and is well known for their exceptional service standards.

“We have had incredible growth with Pendry this past year, opening hotels from coast to coast in some of America’s most vibrant destinations,” said Alan J. Fuerstman, founder, chairman and CEO of Montage International. “Now we have an irreplaceable location for Pendry Newport Beach and an opportunity to bring the Pendry experience ‘home’ to Orange County where both the Montage and Pendry brands originated.”

The Pendry brand brings the service and luxury standards originated in Montage to a more urban hotel setting. The new Newport Beach property will remain as a hotel retaining its 295 rooms including 82 suites, many with ocean views.

The hotel was sold by the Irvine Company which built the property originally as a Four Seasons before going independent more than a decade ago. It closed in Spring 2020 at the start of the pandemic.

The new Pendry will offer three unique lounge, restaurant and bar experiences including a pool, sundeck and cabanas, in addition to a new exclusive private club focused on creating community, delivering bespoke experiences.

It will also continue to be a major player in the city’s meetings and events industry with 14,000 square feet of meeting space.

But make no mistake, this is a remarkable story of a group of local Newport Beach business leaders who in the midst of the pandemic believed in the future of the city and doubled down on its hospitality investment. One major hotel purchase with the Marriott is significant. Buying a second local luxury property less than a year later is utterly amazing.

Led by Kevin Martin, Todd Pickup, Kory Kramer, Rick Weiner and Joe Moody, Eagle Four Partners are now clearly the major hospitality players in the city with not only two Newport Center hotels, but also the Balboa Bay Resort and Balboa Bay Club and the rebuilt Newport Beach Country Club.

“As local owners, we are thrilled to be the new stewards of the former Fashion Island Hotel at the heart of Newport Beach. We are dedicated to continually investing in Newport Beach and elevating the hospitality experience of our neighbors and guests,” said Martin.

“We are grateful to the Irvine Company for entrusting us with this responsibility and sharing our vision as we collaborate with Montage International to create something extraordinary,” said Kramer.

With the recent investment in VEA, the Balboa Bay Resort and now Pendry, Newport Beach will be an even stronger Southern California destination market leader in luxury hospitality, along with Pelican Hill which remains with the Irvine Company.

Over the last couple of years, Eagle Four has single handedly reinvented the Newport Beach luxury hotel experience and instead of fearing COVID and its impacts, the firm stayed local and made a real substantial commitment in its future. 

It’s a remarkable entrepreneurial story that could only happen in Newport Beach.

Gary Sherwin is President & CEO of Visit Newport Beach and Newport Beach & Company.