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Posted: 08 Jun 2012 | 10:56 am
The longstanding stalemate between the Laguna Beach Resort and vendors in front of the property has been resolved.
It's understood a compromise solution has been negotiated and at present the beach front area has been vacated.
A sale of the property by Laguna Hotels and Resorts (LRH) and an affiliated company of private equity firm RECAP took place last year.
Currently closed for renovation and it's believed that an international brand will be signed to operate the upgraded property.
Expectations are that the destination resort Laguna will continue to spur new development opportunities within its massive land bank in the near future in order to realize income potential.
A column featuring environmental issues and conservation around the island. Click here for more Green Reports check out the latest story from the leading experts:
A recent Channel News Asia television segment Boomtown Asia checked into the island's environmental, and sustainable tourism sectors.
The innovative Evening Breeze environmental cooling system is gaining global attention in the resort markets and villas.
CENTEL 38.00 + 0.75 %
DTC 59.00 - 0.75 %
ERW 5.30 0.00 %
GRAND 1.60 0.00 %
LRH 43.50 0.00 %
MANRIN 28.00 0.00 %
MINT 28.00 + 1.00 %
ROH 22.90 + 0.90 %
SHANG 60.50 + 2.50 %
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