Malta-based international hotel group Corinthia has expanded its global footprint with the acquisition of two boutique hotels in Beverly Hills, marking the company’s first venture into the Americas. The purchase was made in partnership with Kuwait-based Action Real Estate Co., a closed shareholding company.
The two properties—Maison 140 and Mosaic Hotel—are located just a block apart on Lasky Drive and Spaulding Avenue, respectively. Together, they offer just under 100 rooms.
Maison 140, originally built in 1939 as a residential apartment for silent film icon Lillian Gish, features 44 rooms and blends French and Far East design influences. Mosaic Hotel, constructed in 1959, includes 49 rooms and is currently part of the Preferred Hotels & Resorts collection.
“This is a significant milestone for Corinthia,” said Simon Naudi, CEO of Corinthia. “Beverly Hills is one of the world’s premier hospitality destinations, and we’re committed to enhancing these properties with luxury offerings that benefit both the local community and our global brand.”
The hotels will be managed by Los Angeles-based hospitality group Palisociety, under the guidance of Corinthia’s development division.
Sheikh Mubarak, Chairman of Action Real Estate Co., emphasized the importance of the move: “This acquisition marks an exciting new chapter. With our extensive experience across Europe, the Middle East, and Asia Pacific, entering the U.S. market is a natural next step for our growth and innovation strategy.”
Corinthia currently owns and operates 25 hotels worldwide. Its North American debut came with the recent opening of The Surrey in New York City, a luxury property on Manhattan’s Upper East Side featuring 100 guestrooms and 14 private residences.
The company also recently completed a $162 million restoration of the historic Grand Hotel Astoria in Brussels and announced plans to manage a 102-story hotel and residential tower currently under development in Dubai.
Source: labusinessjournal.com