Le Meridien Hotels & Resorts Sells and Continues to Manage Le Meridien at Beverly Hills
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Le Meridien Hotels & Resorts Sells and Continues to Manage Le Meridien at Beverly Hills
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Category: North America & West Indies / Carribean islands
This is a press release selected by our editorial committee and published online for free on 2005-11-10
Global hotel group Le Meridien Hotels & Resorts announced today the completion of the sale of Le Meridien at Beverly Hills to an affiliate of Lodging Capital Partners. Le Meridien will continue to manage the hotel, post completion.
The sale of the hotel represents the next in a series of transactions over the coming weeks that will result in the successful recapitalisation of Le Meridien.
According to Robert Riley, CEO of Le Meridien: "While the sale represents a further step towards the recapitalisation of the Le Meridien Group, it is business as usual for Le Meridien at Beverly Hills. With the continued management of the hotel by Le Meridien, guests will receive the same high levels of service they have come to expect of a Le Meridien hotel."
Le Meridien at Beverly Hills has been managed by Le Meridien since July 1999. Centrally situated on Restaurant Row, the hotel is just minutes from Rodeo Drive, Beverly Hills, the Wilshire Business Corridor, The Grove, Farmer's Market and Santa Monica beach. The hotel, which offers 300 bedrooms, including 55 suites, provides state-of-the-art conference facilities in this elegant district of Los Angeles.
London-based Le Meridien is a global hotel group with a portfolio of more than 130 luxury and upscale hotels in 53 countries worldwide. The majority of its properties are located in the world's top cities and resorts throughout Europe, the Americas, Asia Pacific, Africa and the Middle East. The strategic alliance with JAL-owned Nikko Hotels provides loyal guests with access to an additional 52 properties around the world.
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