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Makes $289 a Night Seem Reasonable (Almost)

Peeking under the Orange Curtain this morning from the safety and cost-efficiency of our home-made continental breakfast, we wonder if the Southern California luxury resort market is conveniently ignoring this whole bubble thing. First, the three-year comparison chart for Dana Point's Laguna Cliffs Marriott:

2004 :: $84 million :: $242,775 per room 2007 :: $200 million :: $531,915 per room

Gosh, for that amount, some enterprising entrepreneur could snag 376 median-priced homes in Anaheim and build a resort next to Disneyland! Minus those noisy ocean waves! The full story from the Orange County Business Journal:

The 376-room Laguna Cliffs Marriott Resort has been put up for sale for an expected $200 million. Prudential Real Estate Investors, part of New Jersey's Prudential Financial Inc., owns the hotel. It bought the 20-year-old hotel for $84 million in 2004 from Cigna Hotels... Last year, the nearby 393-room Ritz Carlton Laguna Niguel sold for $338.5 million, or $861,323 per room, the highest price per room in Southern California.