Celebrity Hangout will allow the decided organization to hold stakes in “the best genuine property in the world”
Chateau Marmont, a Hollywood mecca and assembly position for nearly a century, will be moved to a member-only hotel for the next year.
The owner, André Balazs, showed his goal of turning the 91-year-old construction into a hotel where a small member organization can simply buy “a part of a genuine property portfolio in the world,” the Los Angeles Times. Reported.
Members will keep stocks on the assets and pay a normal payment for canopy control costs. In return, they will have access to their own dining room, a non-public butler and the freedom to leave their belongings and enter and spend during extended stays, according to one received through the Times.
“Members will be able to resell their shares to the control corporation or other approved members, as they would any genuine real estate investment,” he said.
The West Hollywood hotel had almost functioned as a member-only property, he added, as before the coronavirus pandemic, 70% of visitors were normal visitors.
Like other hotels, Chateau Marmont hit hard through the pandemic, leading control to dismiss its staff to the fullest in March without severance pay and with only a brief extension of fitness benefits, the newspaper said.
Castle-like assets were originally built as an apartment complex in the 1920s before being transformed into a hotel in 1931. He has been a favorite of actors and celebrities, adding Greta Garbo, Hunter S Thompson, Howard Hughes, James Dean, John Belushi and Lindsay Lohan.