Makar Properties Looks To Expand In CA

NEWPORT BEACH, CA— Makar Properties, a development company specializing in high-end commercial, residential and now hotel properties with the opening of the 400-room St. Regis Monarch Beach Resort & Spa last year, is looking to expand its one-hotel portfolio in California. According to VP Jens Von Gierke, Makar already has two other hotels in the four- and five-star range under development in La Jolla, CA (a new-build hotel with 320 rooms, geared to the business traveler in an urban setting) and Huntington Beach, CA (a new-build boutique-style resort right on the beach with 360 to 380 rooms), set to open in 2004 and 2005, respectively. The new-build St. Regis property was Makars first hotel property. Von Gierke told HOTEL BUSINESS® that, “Were aggressively looking on the West Coast, from San Francisco to San Diego. It has to be the right location— maybe Santa Barbara or San Diego or up farther north near San Francisco. Were either looking to do new-builds in the four- and five-star range, or develop 100- to 200-room existing hotels that are underperforming and bring them up to between four and five stars.” Currently, the company has “a lot of different proposals” on its desk on which its doing due diligence. Von Gierke said that hopefully between its owner and designer contacts, Makar can find the right property and/or location for more hotels. — Barbara Capella Loehr