Downtown LA’s Standard Hotel to shutter permanently

210-room hotel was early linchpin in area’s renaissance nearly two decades ago

Los Angeles /
Dec.December 20, 2021 10:30 AM
The Standard in downtown Los Angeles (LoopNet, iStock/Illustration by Steven Dilakian for The Real Deal)

Another Standard bites the dust.

A year to the day that the Standard in West Hollywood shuttered, the Standard in Downtown Los Angeles will also close for good, according to Bisnow.

A recorded message on the hotel’s main phone line said that the Flower Street lodge will close “indefinitely” on January 22. West Hollywood’s Standard hotel closed on January 22 of this year.

While that date is a month away, the entrances to the hotel have already been either boarded up or locked and the parking lots have been blocked.

Spain-based Ferrado Group appears to own the Downtown L.A. property through Ferrado LA LLC. The Spanish company acted as a middle-man in the West Hollywood business, leasing the property from owner Rittersbacher Sunset LLC and collecting rent from the hotel’s operator Standard International.

Rittersbacher Sunset LLC in October listed the West Hollywood property. The Oregon-based entity reportedly wanted Ferrado Group to raise the Standards’ rent and Ferrado Group sued the entity last summer to prevent that.

It appears that Ferrado Group owns the Downtown L.A. property through Ferrado LA LLC.

Unlike many of L.A.’s other hotels, the Standard in West Hollywood nor the Standard in Downtown L.A. reopened after the first major wave of the pandemic.

Like hotels across the world, hotels in L.A. struggled in 2020 with forced closures and then dismal bookings.

The Luxe Rodeo Drive was among the other hotels in L.A. forced to close after the pandemic hit. LVMH bought the property earlier this month for $200 million, the priciest deal of the year.

Demand for rooms rebounded to pre-pandemic levels in October and November, a promising sign for those hotels that have reopened, but the future remains uncertain the face of the rapidly spreading Omicron variant of Covid-19.

Hotel investment sales have also rebounded somewhat, but that could be an indication that a high number of hotels have been forced onto the market because of coronavirus-related challenges.

[Bisnow] — Dennis Lynch





    Related Articles

    arrow_forward_ios
     1933 South Broadway (Loopnet, iStock)
    Ara Tavitian scores $150M refi on The Reef in DTLA
    Ara Tavitian scores $150M refi on The Reef in DTLA
    GI Partners' Rick Magnuson and One Wilshire (GI Partners, One Wilshire)
    Here’s how much tenants are paying at One Wilshire in DTLA
    Here’s how much tenants are paying at One Wilshire in DTLA
    Coretrust Capital Partners' Thomas Ricci, Randall Scott and John Sischo; 444 S. Flower Street, Los Angeles (444 South Flower, iStock, Coretrust Capital Partners)
    Coretrust leases 44K sf of offices to law firms in DTLA
    Coretrust leases 44K sf of offices to law firms in DTLA
    Marymount President Brian Marcotte with Marymount University (Marymount University California, Google Maps, iStock)
    What to do with 21 prime acres of Palos Verdes peninsula?
    What to do with 21 prime acres of Palos Verdes peninsula?
    Oaktree, Trinity buy Hyatt Regency Indian Wells for $137.5M
    Oaktree, Trinity buy Hyatt Regency Indian Wells for $137.5M
    Oaktree, Trinity buy Hyatt Regency Indian Wells for $137.5M
    From left: Greg Campbell, founding principal, Laguna Point Properties; David Olney, CEO, Berkshire Residential Investments, in front of 548 South Spring Street and 215 West 6th Street (Google Maps, Berkshire Residential Investments, Laguna Point Properties)
    OC buyer gets more than 1,000 DTLA apartments
    OC buyer gets more than 1,000 DTLA apartments
    L.A. Alliance for Human Rights' Elizabeth Mitchell (Getty, L.A. Alliance for Human Rights)
    L.A. Alliance doubles down on federal lawsuit over homelessness solution
    L.A. Alliance doubles down on federal lawsuit over homelessness solution
    Oceanwide Plaza in Los Angeles and the island of Oahu (iStock, RTKL Architects inc.)
    Oceanwide trims back to lone US project in LA
    Oceanwide trims back to lone US project in LA
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...