Fairmont Hotels & Resorts and Next Century Associates will take over management of the Century Plaza Hotel in Los Angeles’ Century City. The crescent-shaped hotel, which opened in 1966, is undergoing a renovation and will reopen in 2018 as the Fairmont Century Plaza, Los Angeles.
The signing of this project follows AccorHotels’ 2016 acquisition of Fairmont Hotels & Resorts, along with Raffles and Swissôtel, which broadened the company’s luxury hotel offerings and footprint in North America.
“Fairmont is honored to become the manager of the historic Century Plaza, and along with Michael Rosenfeld and the entire team at Next Century Associates, we look forward to the rebirth of this iconic property,” said Kevin Frid, chief operating officer, North and Central America, AccorHotels. “The Fairmont brand was born in California in 1907 and now, after more than a century of building an international portfolio of award-winning properties, we are thrilled to return to our roots and expand our presence in the Southern California region.”
Next Century Associates was formed by Michael Rosenfeld, founder and CEO of Los Angeles-based Woodridge Capital Partners.
The approximately US$2.5 billion mixed-use redevelopment project includes approximately 394 guestrooms and 63 branded residences within the original building, along with two new 46-story luxury residential towers with 290 residences and approximately 100,000 square feet of retail and parking facilities.
The original building, designed by Minoru Yamasaki, will be updated by architecture firms Pei Cobb Freed, Gensler and Marmol Radzinger and design group Yabu Pushelberg.