Corinthia Group has acquired two boutique hotels in Beverly Hills, California. Maison 140 Beverly Hills and the Mosaic Hotel, totaling 100 rooms, were purchased through a joint venture with Action Real Estate Company of Kuwait. The acquisition is part of a strategy to expand the brand’s presence in key global markets.
The hotels will continue operating under their current branding in the immediate term, managed by Los Angeles-based Palisociety. Corinthia’s development arm, Corinthia Real Estate Ventures, led by Marcus Pisani and Alex Chazkel, will oversee asset management and explore potential value enhancements.
“This is an important step forward for Corinthia. Beverly Hills is one of the world’s foremost hospitality destinations, and we are determined to add value and create luxury products and services to the benefit of the local community and our Corinthia brand’s global positioning,” said Simon Naudi, CEO of Corinthia Group.
Action Real Estate Company chairman Sheikh Mubarak A. M. Al Sabah added, “We are thrilled to announce our entry into the prestigious Beverly Hills market, marking a significant milestone in our strategic partnership with Corinthia. As a company with a strong track record in global real estate and hospitality investments, this transaction represents an exciting new chapter for us. With decades of experience in markets around the world, including Europe, the Middle East, and Asia Pacific, we are now expanding into the United States, which remains a key market for future growth and innovation.”
In December, Corinthia partnered with Action Real Estate to explore investment opportunities in luxury hospitality and real estate across the Americas and other regions. More recently, Corinthia entered the North American market as a hotel operator with The Surrey, a Corinthia Hotel in New York.
Beyond its U.S. expansion, Corinthia has also completed projects in other major markets. The company recently finalized the redevelopment of Grand Hotel Astoria in Brussels following a full-scale restoration. In Dubai, Corinthia announced plans to operate a 102-story hotel and residential project currently under development in the city’s central district.
With its latest move into Beverly Hills, Corinthia continues to build its presence in high-profile hospitality markets while pursuing opportunities for future growth. In HOTELS’ March/April issue, we dive into the company’s other future openings and deals in an interview with the company’s CEO, Simmon Casson.