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The iconic Chateau Marmont is planning a post-pandemic return as a members-only hotel, according to the Los Angeles Times. Owner André Balazs said he will convert the 91-year-old building into the private venue for up to three years. The change would happen by the end of 2020.
While only temporary, the change to a members-only venue seems like a strategy by the hotelier to survive the coronavirus financial crisis, selling shares of Chateau Marmont to its constituents who in turn will have full run of the property including dining and staying at the hotel.
“Members will be able to sell their shares back to the management company or other approved members, as they would with any other real estate investment,” according to a statement obtained by the Los Angeles Times.
Chateau Marmont’s nearly century-old castle-like building was first used for apartments circa the 1920s before becoming the 63-room hotel in 1931. The hotel has gained notoriety over the years for its celebrity allure and visibility on the big screen in pictures like “La La Land” and “A Star Is Born” starring Lady Gaga and Bradley Cooper.
Other hotels in Balazs’ portfolio could also get the members-only treatment pending the success of the Chateau Marmont conversion.
Balazs on Wednesday did not immediately respond to a request for comment by What Now Los Angeles.