Marriott to Bring a Renaissance Hotel to Downtown LA
Monday March 11th, 2013 - 12:38AM H
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LOS ANGELES–Marriott International plans to open a 450-room Renaissance Hotel downtown here with a groundbreaking early next year in anticipation of an early-2016 opening.
The developer is Williams/Dame & Associates, which has acquired the 60,000 sq. ft. development site from AEG. The hotel will be located across the street from AEG's L.A. Live complex that includes a Ritz-Carlton and a J.W. Marriott. Earlier, AEG sold Williams/Dame another nearby development site, where a dual-brand Residence Inn by Marriott and a Courtyard by Marriott are currently under construction. The latest deal, which is estimated to cost $200 million, will give Marriott International five of its hotel brands in close proximity downtown.
Tags: • Hospitality • Ownership •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.