Australia Foreign Investments Orange County

Australian entrepreneur Christopher Skase's Qintex Group, which just four months ago agreed to acquire the United Artists movie studio, has purchased two major coastal properties in Orange County for a price believed to be about $245 million. Qintex, whose Mirage resorts division owns two vacation complexes in Australia and one in Hawaii, plans to build a "five-star integrated Mirage resort" on the two sites, including a hotel, spa, retail center and residential villas.

The City Council tonight will consider an appeal from two Australian investors who want to establish a youth hostel in Newport Beach. This month the Planning Commission rejected the plan pitched by Andrew Grace and Philip Boston to open a 50-bed International Backpacker's Inn on 32nd Street. The council cited a lack of parking in rejecting the proposal. Since that vote, Grace and Boston have made arrangements to pave part of an adjacent lot to create nine parking spaces.

A U.S. executive with Qintex Australia Ltd. said Friday that its plans to build a luxurious resort in Dana Point are still on track despite the bankruptcy of a subsidiary. The subsidiary, Qintex Entertainment, filed for protection from creditors this week after missing a $5.9-million payment to MCA Inc., part of a film distribution agreement. The bankruptcy is one more sign of troubles for Qintex Australia Ltd., the parent company, which owns 43% of Qintex Entertainment's stock.

A U.S. executive with Qintex Australia Ltd. said Friday that its plans to build a luxurious resort in Dana Point are still on track despite the bankruptcy of a subsidiary. The subsidiary, Qintex Entertainment, filed for protection from creditors this week after missing a $5.9-million payment to MCA Inc., part of a film distribution agreement. The bankruptcy is one more sign of troubles for Qintex Australia Ltd., the parent company, which owns 43% of Qintex Entertainment's stock.

Two prized coastal properties in Dana Point that are scheduled for resort development have been sold to an Australian entrepreneur for about $245 million. Christopher C. Skase, who burst upon the Southern California scene in March when his Qintex Group agreed to buy the United Artists movie studio, said Friday that he plans to build a "five-star integrated resort" on the two sites, known as Monarch Beach and the Dana Point headlands. The properties are less than a mile apart off Coast Highway.

The City Council tonight will consider an appeal from two Australian investors who want to establish a youth hostel in Newport Beach. This month the Planning Commission rejected the plan pitched by Andrew Grace and Philip Boston to open a 50-bed International Backpacker's Inn on 32nd Street. The council cited a lack of parking in rejecting the proposal. Since that vote, Grace and Boston have made arrangements to pave part of an adjacent lot to create nine parking spaces.

Australian entrepreneur Christopher Skase's Qintex Group, which just four months ago agreed to acquire the United Artists movie studio, has purchased two major coastal properties in Orange County for a price believed to be about $245 million. Qintex, whose Mirage resorts division owns two vacation complexes in Australia and one in Hawaii, plans to build a "five-star integrated Mirage resort" on the two sites, including a hotel, spa, retail center and residential villas.

Two prized coastal properties in Dana Point that are scheduled for resort development have been sold to an Australian entrepreneur for about $245 million. Christopher C. Skase, who burst upon the Southern California scene in March when his Qintex Group agreed to buy the United Artists movie studio, said Friday that he plans to build a "five-star integrated resort" on the two sites, known as Monarch Beach and the Dana Point headlands. The properties are less than a mile apart off Coast Highway.