The bombshell declaration that a nearly complete James hotel would not open on the Sunset Strip now makes a little more sense: WeHoville reports that the hotel will open as a “1,” a brand owned by Starwood Capital’s Barry Sternlicht. The “1” has opened in Miami, Brooklyn, and near Central Park since launching in 2015.
“The replacement of the James by the ‘1’ indicates that Barry Sternlicht’s Starwood Capital has closed on its rumored purchase of the James hotel building from CIM Group for $280 million,” writes WeHoville.
The Real Deal had reported in April that there were rumors that Starwood had put in an offer for the hotel building, but there was no confirmation from Starwood or from CIM Group, which owns the Sunset|La Cienega development in which the hotel will reside.
The 286-room hotel sits at the corner of southeast corner of Sunset and La Cienega, in two 10-story buildings.
West Hollywood’s city manager, Paul Arevalo, confirmed the switch at a City Council meeting Monday night. WeHoville reports that Arevalo told the council that the new hotel would be a boon to the city because the “1” brand is a “higher-caliber” hotel brand.
Arevalo did not mention a new opening date for the hotel, though he did refer to an “inevitable delay” in opening the new establishment, says WeHoville.