WEST HOLLYWOOD, CALIFORNIA LaSalle Hotel Properties has acquired the 113-suite Chamberlain West Hollywood for US$38.5 million, or US$341,000 per key, in an all-cash transaction.
“We are excited about the purchase of the Chamberlain West Hollywood,” says Michael D. Barnello, president and CEO of the REIT. “We are very familiar with the West Hollywood market and are pleased to expand our presence there. West Hollywood has been one of our strongest markets this year, with occupancy at our hotels above 80% year to date through the third quarter.”
The hotel will be managed by Outrigger Lodging Services, which manages LaSalle’s LeMontrose Suite Hotel, LeParc Suite Hotel, Grafton on Sunset and Hotel Amarano. Chamberlain is centrally located to the company’s other West Hollywood hotels.
The building was originally constructed in 1970 as an apartment building, subsequently converted to an all-suite hotel and was repositioned as Chamberlain West Hollywood in 2005. The hotel concluded a US$4.5 million renovation in July that included guestrooms, guest bathrooms, corridors, the rooftop pool area and the lobby.
All guestrooms include a private balcony and a gas-log fireplace. The suites, which average more than 500 sq. ft., also include 42-inch HD televisions with DVD players and iHome docking stations. The hotel restaurant, Bistro at Chamberlain, offers seating for 52 and features American and California cuisine.