The Kor Group announced that it has acquired Custom Hotel in a joint venture with the Merchant Banking Division of Goldman, Sachs & Co. LLC, solidifying their continued partnership. In addition to Custom Hotel, Goldman, Sachs & Co. LLC is also the lead capital partner on The Kor Group's Austin Proper Hotel & Residences and Santa Monica Proper Hotel, both of which are under construction and opening in early 2019.
The 250-room Custom Hotel is the only lifestyle boutique hotel near Playa Vista and Los Angeles International Airport (LAX), and will be managed by Proper Hospitality, the California-based luxury lifestyle hotel operator. Located two miles east of the Pacific Ocean along Lincoln Boulevard in the Westchester neighborhood of West Los Angeles, the property strategically sits within close proximity to Loyola Marymount University, the Otis School of Design, and the beachside community of Playa Del Rey.
Renowned mid-century architect, Welton Beckett, originally designed the 12-story building in 1968. It features modern lines and minimalist design touches, large guest rooms with panoramic city and ocean views, 7,000 square feet of indoor and outdoor meeting space, and a sleek, two-level pool deck, restaurant, and bar. Known for his modernist approach, he also designed many Los Angeles landmarks, including the Capitol Records building in Hollywood and the Pauley Pavilion at UCLA.
The Kor Group, which is well known for successfully investing in and transforming boutique hotels throughout Southern California, will immediately enhance hotel operations with upgraded service and guest experiences while finalizing long-term plans for the property. When completed, the hotel will solidify its position as the only full-service, independently branded lifestyle hotel between Venice and LAX. It is ideally located just minutes from Playa Vista, the center of "Silicon Beach," which is the third-largest tech hub in the world, boasting a concentration of technology, entertainment and digital media industries. The area has become a magnet for leading corporations and entrepreneurial tech startups such as Microsoft, Google, Facebook, Yahoo!, IMAX, Apple, and Sony. The hotel is also only minutes from the LAX making it an ideal destination for business or leisure guests in town for an extended layover.
"There's a huge need for design-driven, budget-conscious hotel options on the Westside of LA, where business travelers are looking for easy access to Playa Vista and Silicon Beach, and leisure travelers want boutique options that serve as a gateway to LA's beach communities," said Brian De Lowe, president and partner at The Kor Group and president and co-founder of Proper Hospitality. "We're extremely excited to continue our partnership with Goldman Sachs, and to bring this shared vision to life with Custom Hotel."
Custom Hotel marks Proper Hospitality's fourth boutique property in Southern California, joining Avalon Beverly Hills, Avalon Palm Springs, and Hollywood Proper Residences. To celebrate its takeover, the hotel is now offering introductory rates starting at $119 per night (subject to availability) through the end of 2017.
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