Fairmont Hotels & Resorts and Next Century Associates have signed definitive agreements to revitalise and manage the historic Century Plaza Hotel, located in the heart of Century City in Los Angeles. The crescent shaped hotel has hosted generations of Hollywood celebrities, foreign dignitaries and every United States President since its opening in 1966. The hotel is currently undergoing a meticulous restoration and will re-open as Fairmont Century Plaza, Los Angeles in 2018.
The approximately $2.5 billion redevelopment project includes around 394 guestrooms and 63 branded residences within the original building, along with two new 46-story luxury residential towers with 290 luxury residences and approximately 9,200 square metres of boutique high-street shopping and expanded parking facilities.
Originally designed by Minoru Yamasaki, Fairmont Century Plaza will be transformed by world-renowned architecture firms Pei Cobb Freed, Gensler and Marmol Radzinger and the internationally acclaimed design group Yabu Pushelberg. The team is revisioning the hotel’s renowned lobby, connecting it to a series of public plazas and fountains with two-acres of open space and gardens, surrounded by restaurants and retail boutiques.
The Los Angeles landmark resides on a 2.5-hectare site within one of the most prominent neighbourhoods in the world. Built on the former backlot of 20th Century Fox Studios, the hotel faces the famous fountains at the intersection of Avenue of the Stars and Constellation Boulevard. The property is surrounded by class ‘A’ offices, residences, restaurants, retail, and entertainment venues, and is adjacent to Beverly Hills, one of the highest grossing retail areas in the United States.
Fairmont is expanding its strong partnership with Woodridge Capital Partners, a Los Angeles based multi-disciplined real estate development and investment company. The two companies have enjoyed success together at Fairmont San Francisco and Fairmont Orchid in Hawaii.