Montage Laguna Beach
With an international expansion and a new hotel brand on the horizon, fifteen-year-old Montage Hotel & Resorts has created a new parent company brand: Montage International. The next two years mark some major expansions for the brand, including its first international hotel in Los Cabos, Mexico, slated to open in 2018, as well as the launch of a secondary hotel brand, Pendry Hotels, this year. By creating a parent company, Montage hopes to streamline communications and development activities around their growing families of hotels.
This announcement comes on the heels of the Montage Palmetto Bluffs resort, the brand’s first East Coast hotel, which opened late last summer. Montage Los Cabos will be the first international Montage location and will include 122 guestrooms and 52 villas, expected to open in 2018. Pendry Hotels will bring the Montage’s luxury, clean design and exceptional service to metropolitan locales, starting with San Diego and Baltimore this year and potentially more down the road.
“I had a strong vision for the company when we first started, and through our ability to retain and secure dedicated investors, hard work from our devoted associates, and loyal brand enthusiasts, we’ve been able to grow significantly” Alan J. Fuerstman, the company’s founder, chairman and CEO says in a press release. “Under our new Montage International parent company branding, we look forward to continued momentum. Our future is bright and we are enthusiastic about sharing more developments on the horizon.”
And plenty of development there will be: Annual revenues are expected to exceed $400 million in 2017. With oversight of the $1 billion Montage Residences portfolio, Montage International is positioned for some aggressive growth, with a goal of expanding to 12 to 15 additional properties by 2020.