LOS ANGELES-Northwood Investors LLC has acquired the London West Hollywood, an award-winning 200-suite resort. The purchase price was not disclosed, but Hotels Magazine sources reported a purchase price of $195 million. Northwood has chosen an affiliate, Northwood Hospitality, to manage the property and has hired 7-year hospitality expert Jeffrey Kulek as the property’s general manager.
“Northwood is pleased to have the opportunity to own and operate such a high quality hotel in a supply-constrained hospitality market like West Hollywood,” says Jonathan Wang, Northwood managing director. “This is our first hotel acquisition on the West Coast and exemplifies our focus on luxury hotels in strong hospitality markets.”
David Collins Studio designed the interior space of the all-suite property, which features a rooftop pool and lounge and a restaurant from celebrity chef Gordon Ramsey. Northwood plans to upgrade and expand the property while continuing the bespoke service that has made the London West Hollywood a Los Angeles staple. The company’s first planned action is a build-out of new luxury hotel suites.
“As we look to the future, it is our goal to expand and elevate this outstanding property, as Northwood has done with its other hotel properties throughout the US,” says David McCaslin, Northwood Hospitality president.
Today, another GlobeSt.com story reported growth in the resort sector, which accounted for 18.4% of hospitality market investment transactions this year, the most since 2007.