Jun 30, 2023, 9:42 pm
Last edit by: SanDiego1K
Dinner reservations and activities: email [email protected]
Big Sur Smokehouse is closed at least thru end of July 2023.
Your stay includes all meals, whether in-room 24 hours a day, lunch on the Sur House Terrace from 11:30 a.m. to 5 p.m., or dinner at The Sur House—our award-winning restaurant that is open for dinner from 5-9 p.m. Please see our dining menus here.
Signature experiences:
· Morning Movement (Tai Chi, Yoga, Meditation, Big SurCus Poi Dance)
· Coast Ridge Hike
· Bees and Big Sur
Falconry
· Foragers Hike
· Redwood Hike
· Sur House Social
· S'mores
· Astronomy
July 2023 activity schedule:
https://www.ventanabigsur.com/pdf/JU..._AtAGlance.pdf
Big Sur Smokehouse is closed at least thru end of July 2023.
Your stay includes all meals, whether in-room 24 hours a day, lunch on the Sur House Terrace from 11:30 a.m. to 5 p.m., or dinner at The Sur House—our award-winning restaurant that is open for dinner from 5-9 p.m. Please see our dining menus here.
Signature experiences:
· Morning Movement (Tai Chi, Yoga, Meditation, Big SurCus Poi Dance)
· Coast Ridge Hike
· Bees and Big Sur
Falconry
· Foragers Hike
· Redwood Hike
· Sur House Social
· S'mores
· Astronomy
July 2023 activity schedule:
https://www.ventanabigsur.com/pdf/JU..._AtAGlance.pdf
Ventana Big Sur- Alila - REVIEW MASTER THREAD
Oct 31, 2021, 2:35 am
#1606
Join Date: Aug 2002
Location: WAS/TYO
Programs: UA 1K, AA EXP (3MM), DL PM, BONVOY TITANIUM, HYATT GLOBALIST, HILTON DIAMOND, IHG DIAMOND AMB, et al
Posts: 5,913
We are here right now too. We dined outside the past couple of nights, including tonight, and they had the heaters on and the gas “fireplaces” on. We were both comfortable and are Californians (so get chilly easier than most folks). The outside dining was packed tonight, as it seems a fair amount of people just arrived today.
-FlyerBeek
Nov 4, 2021, 2:00 pm
#1607
Join Date: Dec 2007
Location: SFO
Posts: 4,917
Sold again for record price.
https://www.bizjournals.com/sanfrancisco/news/2021/11/04/ventana-big-sur-sold-again-setting-new.html?
https://www.bizjournals.com/sanfrancisco/news/2021/11/04/ventana-big-sur-sold-again-setting-new.html?
Nov 4, 2021, 3:48 pm
#1608
Join Date: Feb 2013
Location: LA/NY/CHI
Programs: AA EXP, AS 100K, Hyatt Globalist, Marriott Plat
Posts: 1,876
must've snagged the leftovers from what you had!
Nov 4, 2021, 4:04 pm
#1609
Moderator: Southwest Airlines, Capital One
Join Date: Sep 1999
Location: California
Programs: WN Companion Pass, A-list preferred, Hyatt Globalist; United Club Lietime (sic) Member
Posts: 21,625
Sold again for record price.
https://www.bizjournals.com/sanfrancisco/news/2021/11/04/ventana-big-sur-sold-again-setting-new.html?
https://www.bizjournals.com/sanfrancisco/news/2021/11/04/ventana-big-sur-sold-again-setting-new.html?
Just three months after Hyatt Hotels Corp. purchased the 59-room Alila Ventana Big Sur resort for $148 million in June, the company has flipped the hotel to Host Hotels & Resorts Inc. for $150 million, breaking the per key record for resort sales at $2.54 million.
Last edited by nsx; Nov 4, 2021 at 4:45 pm Reason: Article excerpt added
Nov 4, 2021, 5:06 pm
#1610
Join Date: Sep 2011
Location: SNA
Programs: AA EXP, Hilton Diamond, Hyatt Globalist, IHG Plat, Marriott Gold, National EE
Posts: 1,204
Sold again for record price.
https://www.bizjournals.com/sanfrancisco/news/2021/11/04/ventana-big-sur-sold-again-setting-new.html?
https://www.bizjournals.com/sanfrancisco/news/2021/11/04/ventana-big-sur-sold-again-setting-new.html?
Nov 4, 2021, 5:16 pm
#1611
Join Date: Sep 2020
Programs: AA EXP, BA Gold, VS Gold, Hyatt Globalist, Marriott Platinum, Hilton Diamond
Posts: 3,948
They got a lengthy management contract, commitment from the buyer to invest money and they got it off their balance sheet before the ALG deal closer. Hyatt came out a winner on this one IMO.
Nov 4, 2021, 5:18 pm
#1612
Join Date: Sep 2020
Programs: AA EXP, BA Gold, VS Gold, Hyatt Globalist, Marriott Platinum, Hilton Diamond
Posts: 3,948
Nov 5, 2021, 8:37 am
#1613
A FlyerTalk Posting Legend
Join Date: Apr 2013
Location: PHX
Programs: AS 75K; UA 1MM; Hyatt Globalist; Marriott LTP; Hilton Diamond (Aspire)
Posts: 56,478
That was my immediate thought before I even saw the details ("I bet they kept the management contract"). Nice implementation of the asset-lite strategy, purchasing the property then flipping it in order to protect the management contract. It actually serves WoH members better, because the Hyatt owned/leased properties are among the stingiest in the system.
Nov 5, 2021, 8:52 am
#1614
Join Date: Jul 2009
Location: IAH
Programs: UA 2MM, Hyatt Diamond, SPG Gold
Posts: 2,164
Flipping the property was Hyatt's plan. From a news release issued 8 June (emphasis added)...
"On June 3, 2021, a Hyatt affiliate acquired the 59-room Ventana Big Sur, an Alila Resort, located in Big Sur, California for approximately $148 million, securing the Company’s long-term brand presence in a highly sought-after resort destination. The resort, situated on 162 acres in one of the world’s premier leisure destinations, also includes 63 distinctive camping areas and 15 tent cabins and is one of three world-class Alila resorts operating in California. The resort is well-positioned to be considered as part of Hyatt’s capital strategy and Hyatt intends to turn to evaluating the sale of this asset while retaining a long-term management agreement."
"On June 3, 2021, a Hyatt affiliate acquired the 59-room Ventana Big Sur, an Alila Resort, located in Big Sur, California for approximately $148 million, securing the Company’s long-term brand presence in a highly sought-after resort destination. The resort, situated on 162 acres in one of the world’s premier leisure destinations, also includes 63 distinctive camping areas and 15 tent cabins and is one of three world-class Alila resorts operating in California. The resort is well-positioned to be considered as part of Hyatt’s capital strategy and Hyatt intends to turn to evaluating the sale of this asset while retaining a long-term management agreement."
Nov 5, 2021, 10:28 am
#1615
Join Date: Apr 2021
Location: Manhattan, Palm Beach Island, San Francisco, Boston, & Hong Kong
Programs: Lifetime United Global Services, Delta Plat, Hyatt Globalist, Marriott Ambassador, & Hilton Diamond
Posts: 3,165
Hyatt definitely lost money on the deal after all fees and closing costs. I don’t know why people are so celebrating the fact that they sold it with a “long-term” management contract when
a) These long-term contracts are trivial to maneuver out of (for a price obviously)
b) This is standard practice for hospitality companies when dumping important assets
Seems like the original Ventana management contract was under threat and Hyatt decided eating a loss here was worth keeping the property?
a) These long-term contracts are trivial to maneuver out of (for a price obviously)
b) This is standard practice for hospitality companies when dumping important assets
Seems like the original Ventana management contract was under threat and Hyatt decided eating a loss here was worth keeping the property?
Nov 5, 2021, 12:05 pm
#1616
Join Date: Nov 2015
Posts: 358
Hyatt definitely lost money on the deal after all fees and closing costs. I don’t know why people are so celebrating the fact that they sold it with a “long-term” management contract when
a) These long-term contracts are trivial to maneuver out of (for a price obviously)
b) This is standard practice for hospitality companies when dumping important assets
Seems like the original Ventana management contract was under threat and Hyatt decided eating a loss here was worth keeping the property?
a) These long-term contracts are trivial to maneuver out of (for a price obviously)
b) This is standard practice for hospitality companies when dumping important assets
Seems like the original Ventana management contract was under threat and Hyatt decided eating a loss here was worth keeping the property?
Note the first thing Hyatt did when taking it over was change the branding from Ventana, an Alila Resort to Alila Ventana Big Sur.
They also sold it to Host, a REIT whom they've trusted with owning some of their most prominent divestitures - Grand Hyatt San Francisco, Andaz Maui, Coconut Point - and a company that owns 1/3 of all the US Grand Hyatt properties. They aren't going to pull the flag.
At the time I thought maybe Hyatt were upset with the clear gaming of WoH reimbursements by the owners. It now seems more likely the developers of the hotel always intended to flip it when it stabilized (and rumors are the economics were a bit shaky before the all inclusive model/WoH came along). Hyatt was just being defensive.
Last edited by drnilescrane; Nov 5, 2021 at 12:31 pm
Nov 5, 2021, 12:14 pm
#1617
Join Date: Jun 2020
Posts: 446
From Hyatt's Q3 2021 Earnings Release:
They didn't lose (or didn't lose much) money.
Alila Ventana Big Sur— a Hyatt affiliate sold the 59-room Alila Ventana Big Sur, located in Big Sur, California for approximately $150 million (approximately $148 million, net of closing costs and proration adjustments), and entered into a long-term management agreement.
Nov 5, 2021, 12:53 pm
#1618
A FlyerTalk Posting Legend
Join Date: Apr 2013
Location: PHX
Programs: AS 75K; UA 1MM; Hyatt Globalist; Marriott LTP; Hilton Diamond (Aspire)
Posts: 56,478
Nov 5, 2021, 2:45 pm
#1620
Moderator: Southwest Airlines, Capital One
Join Date: Sep 1999
Location: California
Programs: WN Companion Pass, A-list preferred, Hyatt Globalist; United Club Lietime (sic) Member
Posts: 21,625
Peak pricing is looking like the least of our problems.