Ho is best known for owning casinos on Macau Island off the coast of China. "It made better sense for us as a public company with a long-term hold strategy to own this hotel," Alter said. Sunstone, a real estate investment trust, owns more than 50 hotels that are run under several names, including Marriott, Hyatt, Sheraton, Holiday Inn and Embassy Suites. "It's a good move for Sunstone," said Bruce Baltin, senior vice president of the Los Angeles office of PKF Consulting. "It's a good facility in a strong market with good upside potential." Baltin said Fairmont's entry into the OC market changes the area near John Wayne Airport. "It ups the bar in the Newport Beach-airport area," he said. Fairmont Hotels & Resorts operates just one other hotel in Southern California: the Fairmont Miramar in Santa Monica.