Kahan, whose company acquired the Beverly Hilton in December from entertainer Merv Griffin, says the cost estimate on the Oasis is only an approximation because the new owner doesn't yet know exactly how much the renovations will cost. What Oasis does know, however, is that the hotel sorely needs extensive renovations to its design as well as its functionality. Kahan, along with representatives from Hilton Hotels Corp. and the Oasis design team, outlined the plans for those renovations in Tuesday's presentation to the press. The Oasis president said his company sees three primary "elements of this opportunity" at the Beverly Hilton. First, the hotel's name enjoys nationwide recognition. Second, its location at the corner of Santa Monica and Wilshire boulevards in Beverly Hills is priceless. Third, Oasis has the potential to quickly "bring the quality of the hotel up to the reputation of its name," Kahan said.

The Oasis plan is to "bring this hotel back to its glory and simultaneously bring it into the 21st Century," Kahan said, adding that the new owner is looking to "elevate the level of business that's coming here." The plan will include renovations of all 582 of the hotel's rooms (to be reduced to 577 rooms after the renovations) as well as renovations to the business meeting areas, public areas, restaurants and other facilities.

Besides upgrading the design and decor of the property, the changes will be aimed at meeting the needs of business travelers by providing a host of services and features for the business traveler, according to Ernie Wooden Jr., SVP of Hilton Hotels Corp., which has been retained by Oasis to manage the hotel. The hotel now relies more on leisure travel and lower-end customers than it potentially could attract, Wooden explained, so the new-look Beverly Hilton will be designed to attract more high end business customers--both individuals and groups. Wooden told the press briefing that Hilton sees the renovation as "a huge opportunity at the upper end of the four-star hotel bracket." The changes will enable the hotel to recapture a segment of the business market where the Beverly Hilton has lost market share over the years because, since it has not sufficiently upgraded and improved its facilities, it has had to fall back on less lucrative segments of the market.

Among the changes coming at the Beverly Hilton will be more emphasis on an "inside-outside" design, according to Andy Cohen, managing principal of Gensler Architects in Santa Monica, part of the hotel's new design team. Cohen explained that the Beverly Hilton already includes a number of facilities that open to the outdoors to capitalize on the Southern California climate. The "inside-outside" emphasis will add to and enhance this theme, Cohen said, describing the overall feel of the new design as "Beverly Hills with a touch of Hollywood." The comment was a reference to the Beverly Hilton's popularity with both the Beverly Hills set and the entertainment industry, which stages the Golden Globes awards and other events at the property.

Besides Oasis, Hilton and Gensler, other members of the renovation team include HBA/Hirsch Bedner Associates for interior design and Anthony Mason & Associates, project manager. Oasis hopes to begin the project in the spring and complete it in a year, but the work could require 15 to 18 months, Kahan said. The Beverly Hilton was constructed in 1955 and had been owned by Griffin for about 16 years before Oasis LLC, which to Oasis West LLC, a company owned by entrepreneur and computer industry pioneer Beny Alagem, bought it in December. Terms of the deal were not disclosed, but industry sources pegged the price tag at about $130 million, or more than $223,000 per room, one of the priciest hotel deals in Los Angeles County in some time.