LOS ANGELES
Fairmont Hotels & Resorts, now part of the AccorHotels Group, and Next Century Associates announced the signing of definitive agreements for the revitalization and management of the Century Plaza Hotel, located within Century City in Los Angeles. The iconic, crescent shaped hotel has hosted generations of Hollywood celebrities, foreign dignitaries and every United States President since its opening in 1966.
The hotel recently closed for a property-wide restoration and refurbishment and will re-open as Fairmont Century Plaza, Los Angeles in 2018. The addition of a landmark hotel in a strategic U.S. market supports AccorHotels' goal of brand growth and expansion, particularly in the luxury space. The signing of this project follows AccorHotels' 2016 acquisition of Fairmont Hotels & Resorts, along with sister brands Raffles and Swissotel, which broadened the company's luxury hotel offerings and footprint.
"Fairmont is honored to become the guardian of the historic Century Plaza, and along with Michael Rosenfeld and the entire team at Next Century Associates, we look forward to the rebirth of this iconic property," said Kevin Frid, COO, North & Central America, AccorHotels. "The Fairmont brand was born in California in 1907 and now, after more than a century of building an international portfolio of award-winning properties, we are thrilled to return to our roots and expand our presence in the SoCal region.”
The approximately $2.5 billion mixed-use redevelopment project is anticipated to include 394 guest rooms and 63 branded residences within the original iconic tower, along with two new 46-story luxury residential towers with 290 luxury residences, plus approximately 100,000 square feet of retail space.
