West Hollywood is the leader of the new hotel development boom happening on the West Coast. As hotel sales hit a new record last year in Los Angeles County, U.S. Immigration Fund's West Hollywood Edition emerges in an ideal market. The Edition Hotel developer, Steve Witkoff, states The Edition “is the best located hotel within West Hollywood, a high barrier to entry market and one of the highest RevPAR submarkets in the country". Feb 14, 2018  | [caption id="attachment_25076" align="aligncenter" width="600"] Kimpton La Peer hotel[/caption] There is a hotel boom going on, with West Hollywood a leader in some respects. New hotel development in California in 2017 exceeded the peak set in 2008, according to a report by Atlas Hospitality Group, a hotel sales and investment organization. Atlas reports that 10,793 rooms opened in 66 hotels across the state. The previous record was 10,286 rooms in 2008. Hotel sales in Los Angeles County also hit a new record last year. The $1.7 billion in hotel sales last year is an increase of $344 million over sales in 2016. Atlas reports that the median hotel room purchase price in Los Angeles grew to $127,211, the highest it has been since 2008. That record was achieved in part by the sale of two hotels in West Hollywood, which Atlas reports were the largest acquisitions in L.A. last year Starwood’s purchase of the Jeremy on Sunset Boulevard in June fo $280 million from the C.I.M. Group was the largest sale in L.A. County. The biggest buy in terms of price per room was Jeff Klein’s decision last year to buy out the majority owner of the 81-room Sunset Tower Hotel. Klein paid or $1.13 million per room for a total of $90 million. The Real Deal, a commercial real estate news site, reports that that this year, “the hotel industry is expected to break all previous records for new rooms, including the one set last year when 4,300 opened. To give some perspective, the more than 5,000 rooms now under construction in L.A. County account for 25 percent of all rooms in the works throughout California.” West Hollywood, a geographically small city of only 1.89 square miles, is home to 20 hotels with more on the way. The latest to open is the La Peer on La Peer Drive just north of Melrose. Under construction is the 190-room Edition on Sunset Boulevard and in the planning process is the 240-room Robertson Lane. Several other projects, including ones on Holloway Drive and La Brea Avenue, have been proposed by developers. Steve Witkoff, the developer of The Edition, has called out West Hollywood as an ideal hotel market. The Edition “is the best located hotel within West Hollywood, a high barrier to entry market and one of the highest RevPAR submarkets in the country,” said. (RevPAR is hotel industry speak for revenue per available room.)    

December 1 | Michelle Arean From revamps to new openings, here’s what’s new for 2018 & beyond in the U.S. hotel landscape. East & West Coast Openings Over on...

NEW YORK—Created through a partnership between boutique hotel creator Ian Schrager and Marriott International, the Edition brand is slated to grow exponentially from a collection of four to eleven properties by the end of 2018. Following The Sanya Edition’s opening in December 2016, Edition’s Asian presence is scheduled to expand with two additional properties launching in Shanghai and Bangkok in 2018. In addition, the brand’s second and third European hotels are set for launch in Bodrum, Turkey, and Barcelona, Spain. Edition will launch its first outpost in the Middle East in Abu Dhabi, while the company plans to increase its U.S. presence with two properties located in New York’s Times Square and West Hollywood, CA. The brand’s rapid expansion is expected to continue with the addition of nine additional hotel launches planned across five continents by 2020, reaching a 20-strong property portfolio by the end of the decade with more to come, according to the company. Here are more details on the properties: The Shanghai Edition is a combination of two separate towers with 147 guestrooms. Set to launch in mid-2018, the hotel’s design includes 10 levels of public space, including five meeting studios and two forums, totaling over 2,800 sq. ft. Also launching in mid-2018, the Bodrum Edition will have 99 guest rooms, suites and villas all with views of the Aegean Sea, some with private pools, balconies and gardens. Amenities include an infinity pool, garden lounge, spa facilities with Turkish Hammam and fitness center, kids’ club and an exclusive beach club with jetty that houses private cabanas. The Times Square Edition will offer 457 guestrooms with four levels of public space, including a 5,000-sq.-ft. performance venue, a 1,900-sq.-ft. meeting studio, fitness center and a lobby lounge at check-in level. Set to open in mid-2018, the hotel’s F&B outlets will include a signature restaurant leading out onto a 5,800-sq.-ft. beer garden and event deck overlooking Times Square, and an all-day dining venue. The Barcelona Edition will have 100 guestrooms, a signature restaurant, lobby bar/café, Sky bar, swimming pool and state-of-the-art fitness center and a night club. It is slated to open in mid-2018. Known as Thailand’s tallest building, The Bangkok Edition will be located along Naratiwat Rd., close to North Sathorn Road junction. There will be 155 guestrooms and five levels of public space, offering over 5,500 sq. ft. of combined meeting space including a boardroom, main function room and outdoor banquet terrace. A mid-2018 opening is scheduled. The Abu Dhabi Edition will be situated in the downtown district on the waterfront of Al Bateen in the Abu Dhabi Marina. Accommodations will include 244 guestrooms and 57 exclusive residences. F&B will include two signature restaurants, a gourmet market, lobby bar, tea lounge, pool bar and three-story nightclub. It will open in late 2018. [caption id="attachment_22085" align="aligncenter" width="696"]US-Immigration-Fund-West-Hollywood-Img4 RENDERING: West Hollywood Edition[/caption] The West Hollywood Edition will open in late 2018 with 190 guest rooms, 20 luxury residences and over 5,200 sq. ft. of meeting space. F&B outlets include a signature restaurant, a lobby lounge, rooftop venue and a nightclub/bar.