Bloomberg

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The new hotels "will bring new meeting space and hundreds ofrooms to downtown Los Angeles at a time when the lodging industryhas seen its biggest occupancy declines in decades," saysBloomberg. Its report cites the 1,001-room JW Marriott atL.A. LIVE, which will share space with the Ritz-Carlton, LosAngeles, and the Ritz-Carlton Residences at L.A. LIVE in adistinctive 54-story tower designed by Gensler. As reportedpreviously on GlobeSt.com, the 54-story Marriott,which will be topped by 224 condominiums, will be the centerpieceof new development near the Staples Center.

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The Bloomberg article focuses on hotels due to open soonin Downtown L.A., but there is even some long-term planning forhotels and new office space in the center of town. As GlobeSt.comhas reported, Korean Air hasretained Downtown Los Angeles-based Thomas Properties Group Inc. todevelop a $1 billion mixed-use hotel, office, condominium andretail complex totaling nearly 1.8 million square feet on the2.7-acre Wilshire Grand Hotel and office site on the southwestcorner of Wilshire and Figueroa in the heart of the city'sfinancial district. The project would replace the existing WilshireGrand complex with two high-rise towers, totaling approximately1.75 million square feet: a 40-story tower featuring a luxury hotelof up to 700 rooms topped by several floors of condominiums, and a1.1-million-square-foot, 60-story office tower

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To read the complete Bloomberg article, online, clickhere.

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