The Regular lodge on the Sunset Strip in West Hollywood is scheduled to near Friday, 22 several years after opening with the fiscal guidance of such stars as Leonardo DiCaprio, Cameron Diaz and Benicio del Toro.
The spot was the initially that hotelier Andre Balazs opened in the Common chain of boutique lodges. The brand, with its irreverent upside-down symbol, cultivated a informal, awesome, movie star-studded atmosphere. The chain grew to 6 areas in the Los Angeles area, New York, Miami and London, and it operates less than father or mother firm Common Intercontinental. Balazs stepped down as the company’s chairman in 2017.
A Typical Intercontinental representative reported Thursday that the holder of the building’s lease exercised its alternative to elevate the lease selling price in 2019 and that the maximize has “rendered it unsustainable to run the hotel.” She said the lodge tried to renegotiate.
With the COVID-19 pandemic, which has led to limitations on travel and in-human being occasions, the nation’s hotel industry is undergoing its worst disaster in many years.
The Standard’s lease is held by the Ferrado Group, a serious estate investment decision firm dependent in Spain with a spot in Newport Seashore. Organization associates could not be attained for quick remark.
The Standard’s interiors were originally created by movie set designer Shawn Hausman. The location had been a hangout for such celebs as Matt Dillon, Uma Thurman, Jennifer Lopez, Rose McGowan and Gloria Estefan.
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