Back in 2008, a group of AIG executives made headlines when they headed to the St. Regis Monarch Beach in Southern California for a weeklong junket just days after the company received an $85 billion bailout from the federal government (via USA Today).
The insurance giant spent $440,000 on the retreat, which was planned before the bailout.
Apparently, the hotel has suffered financial woes ever since, thanks in part to the backlash against extravagant hotel parties, according to the Orange County Register.
It transferred ownership last year, but now the five-star property is reportedly up for sale again, with Host Hotels & Resorts and other luxury brand hotel chains considering buying the 400-room resort, USA Today said.
Initial bids value the 172-acre property at $300 million.
What's included in the price?
In addition to the 10-year-old, Tuscan-style hotel, the St. Regis is home to two restaurants, a spa and an 18-hole oceanfront golf course.
The pool
The 18-hole golf course overlooks the Pacific
Nice view
The grand ballroom foyer
One of the hotel bars
The spa, where AIG execs ran up a $23,000 tab
A standard guest bedroom costs upwards of $300 per night
Inside a suite
Lavish decor
The bathroom in the presidential suite
Ocean views from the Presidential Suite
Now check out another luxurious California hotel
The Sultan Of Brunei's Los Angeles Hotel Is Reopening With A $13,500-A-Night Presidential Suite >
ncG1vNJzZmivp6x7o8HSoqWeq6Oeu7S1w56pZ5ufony0wIyrnKCho2K6sLrAq5qhZZKarqS0jJ%2Bmq2WjlrmmecCinmaomKTBsL%2BMa2dqaV1u