The San Manuel Band of Mission Indians completed the acquisition of a stake in Waldorf Astoria.

The San Manuel Band of Mission Indians, a federally recognized Indian tribe located on the San Manuel Indian Reservation near Highland, California, completed the acquisition of a stake in Waldorf Astoria, a beach resort and club. Financial terms were not disclosed. "Investing in a luxury destination resort such as Waldorf Astoria Monarch Beach represents another milestone for our Tribe, enabling us to continue executing our long-term diversification strategy. The stunning coastal setting, along with its exceptional guest service and amenities, are features that our Yaamava' and Palms guests will enjoy. We are excited to partner with Ohana Real Estate Investors and impressed with Hilton and Waldorf Astoria's strategic repositioning of the property over recent years," Lynn Valbuena, SMBMI Chairwoman.