Chartres Lodging Group has picked up a 179-room Mid-Century hotel next to the newly opened Intuit Dome in Inglewood for $57.2 million, triple what it traded for seven years ago.
The San Francisco-based investor bought the Lüm Hotel at 3900 West Century Boulevard, next to the home of the L.A. Clippers, the Los Angeles Times and Commercial Observer reported.
The seller was Downtown Los Angeles-based Izek Shomof. The deal works out to $319,553 per room.
Broker Rod Apodaca of RJA Hotels held the listing.
Shomof bought the three-story inn then known as the Airport Park View Hotel in 2017 for $18 million, or $100,559 per room.
Shomof renovated the hotel, built in 1961, to include a new pool, gym and a 10,000-square-foot Cork & Batter restaurant, which opened in 2022 across three levels, including a rooftop bar, according to Bisnow.
Chartres last month announced its own grand reopening of the hotel, following more renovations. The makeover included further room updates, a resort-style outdoor swimming pool with an outdoor bar and a rooftop terrace.
The company plans to reposition the hotel into a lodging destination to serve a sports and entertainment district that includes the 26-acre, 18,000-seat Intuit Dome, home of the L.A. Clippers, and the 300-acre, 70,000-seat SoFi Stadium, home of the L.A. Rams and L.A. Chargers.
The 61,400-square-foot hotel could also draw travelers to the South Bay city because of its location near Los Angeles International Airport.
“We’ve created an environment where comfort meets modern design, all while being located by the world’s largest sports and entertainment venues,” Maki Nakamura Bara, president and co-founder of Chartres, said in a statement last month.
Early this year, West L.A.-based Arya Group filed plans to build a 15-story, 174-room boutique hotel, also next to the Intuit Dome. The developer, led by Ardie Tavangarian, is known for building super mansions across Los Angeles.
Chartres Lodging Group, founded in 2002 by Bara and Robert Kline, has acquired $3 billion in hotel properties, while conducting an additional $1 billion in renovations, according to its website.
— Dana Bartholomew
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