The Ace hotel brand reportedly will expand to Los Angeles at the existing downtown United Artists building.
The Hollywood Reporter, a leading entertainment publication, has reported that Ace reached an agreement with Greenfield Partners, of Norwalk, Conn., which acquired the property this year for $11 million.
Sources told the Hollywood Reporter that Ace intends to renovate the huge, 2,214-seat theater—which opened in 1927 and hosted many world premieres—and make it the focal point of the hotel. It is not yet clear how many guest rooms will be on tap at the hotel.
