The Standard resort in West Hollywood is shutting down

The Typical hotel on the Sunset Strip in West Hollywood is scheduled to close Friday, 22 several years after opening with the monetary assist of this kind of stars as Leonardo DiCaprio, Cameron Diaz and Benicio del Toro.

The area was the first that hotelier Andre Balazs opened in the Normal chain of boutique hotels. The model, with its irreverent upside-down brand, cultivated a casual, great, celeb-studded ambience. The chain grew to six destinations in the Los Angeles spot, New York, Miami and London, and it operates under mother or father corporation Typical Worldwide. Balazs stepped down as the company’s chairman in 2017.

A Normal Global consultant mentioned Thursday that the holder of the building’s lease exercised its alternative to increase the lease price tag in 2019 and that the enhance has “rendered it unsustainable to operate the hotel.” She claimed the resort tried using to renegotiate.

With the COVID-19 pandemic, which has led to restrictions on journey and in-person activities, the nation’s resort industry is going through its worst disaster in decades.

The Standard’s lease is held by the Ferrado Group, a real estate financial commitment organization based in Spain with a spot in Newport Seaside. Company associates could not be arrived at for fast comment.

The Standard’s interiors have been at first designed by movie established designer Shawn Hausman. The site experienced been a hangout for these kinds of stars as Matt Dillon, Uma Thurman, Jennifer Lopez, Rose McGowan and Gloria Estefan.