Business Description
Hotel in Los Angeles Downtown
4-star
Rooms: 350
Union
Management can be removed in 4 years. Current owners are willing to pay penalty for early removal before sale.
The current Flag can stay or be removed.
This sale results in 100% ownership.
Featuring striking murals and floor-to-ceiling windows, streamlined rooms provide free Wi-Fi, satellite TV and desks, plus Keurig coffeemakers and designer toiletries. Upgraded rooms add sweeping city views.
Amenities include a chic all-day eatery, a lobby bar and a sleek rooftop swimming pool, restaurant/bar, as well as fitness and business centers. Banquet Hall, Valet parking is offered.
An offer of $230M will be entertained. (Replacement cost over $300M)
The hotel is doing ok but plenty of upside to increase revenue from F&B and events. A third-party consultant firm pegged the projected cap rate at 6% with NOI of $14M after a re-brand and better management of F&B
