The James West Hollywood, a hotel that has been under development on Sunset Boulevard in West Hollywood, Calif., is now being branded as the “1.”
The property was expected to open May 1 in a tower owned by urban real estate and infrastructure fund manager CIM Group. The tower is part of a development called Sunset|LaCienga, but in mid-June the James’ website released a statement that it “will not be introducing the James Hotel to Los Angeles at this time.”
Instead, the property, which was set to open in March before being pushed back to May, has been acquired by Barry Sternlicht’s Starwood Capital Group, the owners of the 1 Hotels brand. Starwood Capital reportedly purchased the James from CIM Group for roughly $280 million, or about $975,000 per room.
The 10-story hotel consists of 286 rooms, including 35 suites and penthouses. The LaCienga project began development in 1999, at the time being referred to as the Sunset Millennium project, named after its original owner Sunset Millennium Associates. Due to financing constraints, Sunset Millennium Associates sold the three parcels of Sunset Millennium to CIM Group in 2011.
Paul Arevalo, city manager for West Hollywood, said in a statement that the 1 Hotels brand would be a benefit to the city when compared to the James West Hollywood because it was a higher-caliber brand, and also because it had access to an international reservation system. However, the delayed opening of the project will have a negative impact on the amount of revenue West Hollywood had anticipated would be collected from the property via occupancy taxes.
A new opening date has not been named as of yet.