Are you planning a luxurious getaway to Terranea Resort but wondering who owns this magnificent property? Well, let’s dive into the details of the ownership of this resort.
Introduction
Terranea Resort is a world-class luxury resort located in Rancho Palos Verdes, California. It is spread over 102 acres of stunning coastline and offers breathtaking views of the Pacific Ocean. The resort boasts 582 rooms and suites, eight restaurants and bars, four swimming pools, a golf course, a spa, and many other amenities.
The Ownership of Terranea Resort
Terranea Resort is owned by Lowe Enterprises Investors. This company is a subsidiary of Lowe Enterprises Inc., which is a Los Angeles-based real estate developer and investor founded in 1972 by Robert J. Lowe.
History of Lowe Enterprises Inc.
Lowe Enterprises Inc. has been involved in various real estate projects over the years. Initially, it focused on developing commercial properties such as office buildings and shopping centers. Later on, it expanded its operations to include residential properties, resorts, hotels, and golf courses.
The Role of Lowe Enterprises Investors
Lowe Enterprises Investors was established in 1995 as an investment management firm that specializes in real estate investments. Its primary focus is on acquiring income-producing properties such as hotels and resorts.
Terranea Resort’s Management
Despite the ownership being with Lowe Enterprises Investors, Terranea Resort is managed by Destination Hotels & Resorts. This company manages various luxury hotels and resorts across North America.
The History of Destination Hotels & Resorts
Destination Hotels & Resorts was established in 1972 as Destination Resorts Hawaii Management Inc., which initially focused on managing luxury vacation rental properties in Hawaii. Later on, it expanded its operations to include other luxury hotels and resorts across the United States.
The Role of Destination Hotels & Resorts
Destination Hotels & Resorts is responsible for managing all aspects of Terranea Resort, from operations and maintenance to marketing and sales. It ensures that the resort offers the highest level of service and hospitality to its guests.
The Future of Terranea Resort
Terranea Resort has been a popular destination for tourists and locals alike since its opening in 2009. The resort has received numerous awards for its exceptional service, sustainability practices, and luxurious amenities.
In 2020, Lowe Enterprises announced plans for a $100 million expansion of Terranea Resort. The expansion will include the addition of 150 rooms and suites, a new restaurant, a new spa facility, and many other enhancements to the existing amenities.
Conclusion
In summary, Terranea Resort is owned by Lowe Enterprises Investors, a subsidiary of Lowe Enterprises Inc., while it is managed by Destination Hotels & Resorts. With plans for expansion in the near future, Terranea Resort will continue to be an exceptional luxury destination that attracts visitors from around the world.