L’Auberge Del Mar sold for $76.9 million

from San Diego Daily Transcript (Friday, Dec 7, 2012):

Robert Rauch, a hotel consultant and developer, who acted as a receiver on the property in the 1990s, said there aren’t too many prospective buyers other than other large hotel REITs and some major Asian investors, who would have had the wherewithal to pay the $76.9 million for the property …Rauch said it is hardly surprising that L’Auberge was distressed at the time.  “Don’t forget that the early to mid-1990s were extremely difficult for our industry,” Rauch said.

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