Calif. resort deals rewrite price tag record book

The recently opened Four Seasons resort in California’s Napa Valley is being sold for $175 million, or $2.1 million per key, a valuation that an analytics firm calls the second highest ever for a hotel. The purchase by Sunstone Hotel Investors Inc. ranks behind Hyatt Hotels’ $2.5-million-per-room acquisition of the state’s Ventana Big Sur resort earlier this year as the luxury sector continues to outpace hospitality recovery overall.