Terranea Resort in Rancho Palos Verdes reported last week that they had completed their financial restructuring. According to an article in the Peninsula News, that would “generate more than $100 million in new capital commitments.” This is good news for Terranea and for Palos Verdes! It has been reported that Terranea has paid Rancho Palos Verdes millions of dollars in transient occupancy tax.
Terranea Resort is currently advertising online 20% off room rates booked by December 31, 2010, for stays before April 30, 2011. Terranea has also announced a “Must-Sea Real Estate” event on Sunday, October 17 from 10:00 a.m. to 4:00 p.m. showcasing dramatically reduced pricing on their real estate, Villas and Casitas, which now start at $1,295,000, which is a $2,000,000 price reduction from 2009. There is a lot going on at Terranea this month in addition to their reliably delicious food at seven different restaurants and their world class service at the entire resort. It’s time for another visit.
Photo courtesy of Terranea Resort
