LaSalle acquires fourth hotel in West Hollywood
7-Dec-10 A hotel near the epicenter of the entertainment industrys thirty mile zone has joined the family of properties that includes Marina Citys Hotel Sax.
LaSalle Hotel Properties announced on Monday it has purchased the Chamberlain West Hollywood, a 113-suite hotel in southern California, for $38.5 million in cash.
(Above) The lobby of the Chamberlain West Hollywood, recently purchased by LaSalle Hotel Properties, from the hotels website.
LaSalle now owns 35 upscale hotels, including four in West Hollywood, a city in Los Angeles county in which 41 percent of the population is gay.
We are very familiar with the West Hollywood market and are pleased to expand our presence there, said LaSalle CEO Michael Barnello in a news release. West Hollywood has been one of our strongest markets this year with occupancy at our hotels above 80 percent year-to-date through the third quarter.
Built in 1970 originally as an apartment building, the Chamberlain West Hollywood was converted to an all-suite hotel in 2005 and for eight months ending in July underwent extensive renovation.
Outrigger Lodging Services will manage the hotel.
By Steven Dahlman | Loop North News | Published 7-Dec-10 3:25 AM