The Standard hotel in West Hollywood is shutting down

The Common lodge on the Sunset Strip in West Hollywood is scheduled to near Friday,…

The Common lodge on the Sunset Strip in West Hollywood is scheduled to near Friday, 22 a long time immediately after opening with the financial support of this kind of stars as Leonardo DiCaprio, Cameron Diaz and Benicio del Toro.

The location was the very first that hotelier Andre Balazs opened in the Typical chain of boutique inns. The model, with its irreverent upside-down logo, cultivated a casual, interesting, superstar-studded atmosphere. The chain grew to 6 spots in the Los Angeles place, New York, Miami and London, and it operates under mother or father business Typical Worldwide. Balazs stepped down as the company’s chairman in 2017.

A Normal Worldwide representative reported Thursday that the holder of the building’s lease exercised its possibility to increase the lease price in 2019 and that the raise has “rendered it unsustainable to function the hotel.” She stated the lodge tried out to renegotiate.

With the COVID-19 pandemic, which has led to restrictions on travel and in-particular person events, the nation’s resort marketplace is undergoing its worst crisis in decades.

The Standard’s lease is held by the Ferrado Team, a actual estate investment decision firm based in Spain with a place in Newport Seashore. Enterprise associates could not be attained for fast remark.

The Standard’s interiors were initially established by film set designer Shawn Hausman. The place experienced been a hangout for these types of celebrities as Matt Dillon, Uma Thurman, Jennifer Lopez, Rose McGowan and Gloria Estefan.