Industry Update
Press Release27 July 2017

Starwood Capital Group Announces Acquisition of West Hollywood Hotel Property

The Jeremy West Hollywood Hotel Expected to Open in Late Summer 2017 and to be Transformed into a 1 Hotel, an Award-Winning Luxury, Eco-Conscious, Lifestyle Brand

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1 Hotels

MIAMI, Fla. -- Starwood Capital Group, a leading global private investment firm, today announced that it has acquired, through a controlled affiliate, the newly constructed 286-key The Jeremy West Hollywood hotel property in West Hollywood, Ca. Terms of the transaction were not disclosed.

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Designed by Skidmore, Owings & Merrill, the property will open in August as The Jeremy Hotel. Located on the corner of La Cienega and Sunset Boulevard, the hotel presents a very distinctive metal cladding in its exterior with its prominent hilltop location allowing for unobstructed breathtaking views from most rooms, ranging from Santa Monica to Downtown LA. The 286 room hotel features 50 suites, including two Penthouse Suites, a pool, fitness center, two large conference rooms and meetings and event space (totaling approximately 10,000 sq. ft.), a spectacular rooftop bar and lounge with 360 views, a café, restaurant and lobby bar.

Over the course of the next year, The Jeremy will be transformed into the 1 West Hollywood and will become the fourth property in the award-winning eco conscious luxury sustainable brand created by Starwood Capital. When 1 West Hollywood opens it will join sister hotels in Manhattan,Brooklyn and Miami Beach. Other 1 Hotels under development include Cabo San Lucas, Mexico (fall 2019), Sunnyvale, California (late 2019) and Sanya, China (late 2018). As a testament to the brand's strong offerings, 1 Hotel Central Park was voted "Best Urban Hotel" in the world by Wallpaper Magazine earlier this year. Starwood Capital Group is expected to relaunch The Jeremy as the 1 West Hollywood towards the end of 2018.

"We are excited to acquire this amazing asset in the vibrant West Hollywood market and add it to our rapid growing 1 Hotels brand portfolio," said Starwood Capital Group Chairman Barry Sternlicht. "The opportunity to acquire this new extraordinarily located real estate in such an important destination with all of its amenities was extremely compelling to our brand and team. We can't wait to launch The Jeremy and later bring our award-winning luxury sustainability focused brand to a city and state that cares so much about the environment" Sternlicht concluded.

The Jeremy and the 1 West Hollywood will be managed by SH Group, Starwood Capital's in-house hotel management company, which manages the 1 Hotels brand and Baccarat hotel in Midtown Manhattan. The 1 West Hollywood will provide a world-class destination to Los Angeles while welcoming guests to the city's most beloved neighborhood, West Hollywood.

Related Brand

1 Hotels

As a luxury lifestyle hotel brand inspired by nature, 1 Hotels cultivates the best of sustainable design and architecture, together with extraordinary comfort and an unrivaled level of service. 1 Hotels, which launched in 2015 with the opening of exclusive properties in Miami's South beach and Manhattan's Central Park, followed by Brooklyn, located on the East River, in February 2017, and 1 West Hollywood, on Sunset Boulevard, in June 2019, is inspired by a simple idea: those that travel the world should also care about it, it is, after all, 1 world.
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Other Brands by Starwood Capital Group
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Principal
Uptown Suites

About Starwood Capital Group

Starwood Capital Group is a private investment firm with a core focus on global real estate, energy infrastructure and oil & gas. The Firm and its affiliates maintain 13 offices in five countries around the world, and currently have approximately 4,000 employees. Since its inception in 1991, Starwood Capital Group has raised $45 billion of equity capital, and currently has in excess of $60 billion of assets under management. The Firm has invested in virtually every category of real estate on a global basis, opportunistically shifting asset classes, geographies and positions in the capital stack as it perceives risk/reward dynamics to be evolving. Over the past 27 years, Starwood Capital Group and its affiliates have successfully executed an investment strategy that involves building enterprises in both the private and public markets. Additional information can be found at starwoodcapital.com.

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