NEWPORT BEACH, CA—Eagle Four Partners, LLC and Lyon Living have acquired the Newport Beach Marriott Hotel & Spa located in Newport Center adjacent to Fashion Island.
The hotel, situated on 10 acres, has views of the Pacific Ocean, Newport Harbor and the adjacent Newport Beach Country Club. It has 532 guestrooms, 32,000 sq. ft. of indoor and outdoor venues.
“As local owners and operators, we are thrilled to be acquiring the Newport Beach Marriott Hotel & Spa and adding it to our portfolio of iconic hospitality and lifestyle residential assets,” said Kory Kramer, partner, Eagle Four Partners. “Being an integral part of the community fabric of Newport Beach, we are dedicated to a transformative renovation in 2021 bringing the hotel to a new level of guest experience and service befitting its location in the heart of Newport Beach.”
Peter D. Zak, president/partner, Lyon Living Development Company, added, “The hotel will complete a comprehensive renovation of both public space and guestrooms including exterior enhancements. The result adds incredible value not only to the hotel, but is accretive to the Newport Center neighborhood and the many businesses in and around Fashion Island.”
Marriott International will continue as the hotel operator led by veteran general manager Debbie Snavely.
“Newport Beach is our home,” said Kevin Martin, partner, Eagle Four Partners. “We are proud owners of the Balboa Bay Resort & Club and Newport Beach Country Club. Partnering with Newport Beach-based Lyon Living, we believe our group will transform the Newport Beach Marriott Hotel & Spa into a preeminent community asset for future generations.”
Bob Webster and Michael DiPrima of CBRE Hotels advised both the seller, Host Hotels and the buyer on the transaction. Pillsbury Winthrop represented as buyer’s counsel and Latham & Watkins represented as seller’s counsel.