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Chateau Marmont in Hollywood to become members-only hotel

July 30, 2020

 

The Chateau Marmont, a Hollywood hotspot and hangout for nearly a century, will be converted into a members-only hotel over the next year.

The owner, André Balazs, confirmed his plans to turn the 91-year-old building into a hotel at which a select group of members could buy into “a piece of a portfolio of the best real estate in the world”, the Los Angeles Times reported.

Members will own shares in the property and pay regular fees to cover management costs. In exchange, they will be given use of a private dining area, a personal butler and the freedom to leave their belongings and come and go during extended stays, according to a statement obtained by the Times.

“Members will be able to sell their shares back to the management company or other approved members, as they would with any other real estate investment,” the statement said.

The hotel in West Hollywood had nearly operated as a members-only property, it added, given that before the coronavirus pandemic 70% of guests were repeat customers.

 

Read the full article with The Guardian 

 

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