James Hotel brand backs out of Sunset Strip deal in WeHo

Barry Sternlicht’s Starwood Capital is in talks to buy the 10-story property

TRD LOS ANGELES /
Jun.June 16, 2017 09:30 AM
West Hollywood hotel development Sunset La Cienega James Hotel
Renderings of CIM Group’s Sunset | La Cienega project

It’s official: The James Hotel, which had been slated to open at CIM Group’s Sunset | LaCienega project last month, is not opening after all.

In a message on the James Hotel’s website, officials said that they would no longer be launching a hotel in L.A. 

“While all of us at The James continue to maintain our commitment to community, personal wellness, art and design, we will not be introducing the James Hotel to Los Angeles at this time,” said the message, which has since been deleted. The message was first spotted by Curbed.

While there’s no word so far on the reason for the change of plan, The Real Deal reported in April that Barry Sternlicht’s Starwood Capital was in negotiations to buy the 286-key hotel for about $280 million, or $975,000 per key. The property at 8490 Sunset Boulevard spans 235,000 square feet.

Sources with knowledge of the deal told TRD that Sternlicht might convert the property into a 1 Hotel, rather than sticking with the James brand. [Curbed]Cathaleen Chen


Related Articles

arrow_forward_ios
The top sales of last week were all on the Westside

Here are the 5 priciest resi sales in LA County last week

Barings Head of Alternative Investments Anthony Sciacca, and DWS Head of Americas Bob Kendall (Credit: Google Maps)

DWS Group pays $100M for WeHo resi complex

Richard Bloom and a rendering of Lowell Farms Cannabis Cafe (Credit: Lowell Farms, iStock)

Cannabis lounges bloom in WeHo, and not everyone is happy

Jason Illouian and the property (Credit: Faring Capital and Google Maps)

Faring advances plan for 271K sf cancer center where it had eyed boutique hotel

The 2017 LA Pride march in West Hollywood and West Palm Springs (Credit: United Food and Commercial Workers)

The “gayborhood premium:” A look at home prices in LGBTQ-centric areas

Sterling Organization CEO Brian Kosoy and the two Melrose Avenue properties

Sterling Organization buys retail portfolio along booming Melrose Avenue

From left: Saeed Nourmand, Michael Nourmand, Grant King and Richard Heyman

Relevant Group sues Nourmand & Associates’ founder, alleging extortion over hotel projects

Centennial founder and CEO Steven Levin with a rendering of the project

Centennial Real Estate approved for sprawling $300M mixed-use village

arrow_forward_ios