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Troubled California hotel in US$185m luxury makeover

Developer turning former Miramar site into beach resort and bungalows

[LOS ANGELES] Rick Caruso, a Los Angeles shopping-mall developer, plans to spend about US$185 million to rebuild a Southern California seaside hotel with a troubled past into a luxury getaway.

The 170-room Miramar Beach Resort and Bungalows in Montecito, near Santa Barbara, will have such...

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