Alagem Capital Group has entered a partnership agreement with Hilton Worldwide to open the first Waldorf Astoria hotel in Beverly Hills by 2017.
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Beny Alagem has begun to take the wraps off a project with the Hilton Hotels Corporation, announced initially in January, 2007.
The partnership project between the private investor group led by the Alagem Capital Group and Guggenheim Partners and the Hilton Hotels Corporation is for the first hotel in the Waldorf Astoria chain ever to be constructed on the West Coast of the United States.
The site chosen is adjacent to the Beverly Hilton hotel on the corner of Wilshire and Santa Monica Boulevards in Beverly Hills. When completed the plant 12-story, 170-room luxury hotel will become the 25th hotel in the Waldorf Astoria chain.
According to a recent press release from the partnership group, the Waldorf Astoria Beverly Hills will be consulted on a nine acre property, which will eventually house new Waldorf Astoria Beverly Hills as well as the existing Beverly Hilton as well as proposed luxury private Waldorf Astoria Residences which will follow in the future. The property is owned by the Alagem Capital Group and clients of Guggenheim Partners.
In a statement released by the Alagem Capital Group, Beny Alagem stated that this project marks an important next chapter in the history of this already famous property, which with the arrival of the Waldorf Astoria Beverly Hills, will once again set a standard for others to follow.
“ The Waldorf Astoria Beverly Hills will be one of the most luxurious urban hotels in the country. From the world-class design to the exclusive services, every detail is designed to create an unprecedented hospitality experience that doesn’t exist today.” Mr, Alagem predicted.
According to the plans are being made public to date the new hotel will feature a triple-height lobby designed around a contemporary Art Deco theme, and embellished with the signature Waldorf Astoria clock as well as hand-painted murals of California landscapes and custom chandeliers. One of the major highlights of the hotel is expected to be its rooftop pool deck, will be the largest of its kind in Beverly Hills, as well as a world-class 5, 000 square-foot Waldorf Astoria Spa, with recognized management and products, and a ground-level outdoor dining terrace and flexible open-air space to take advantage of Southern California’s highly desirable year-round climate.
In charge of interior design of the hotel will be Pierre-Yves Rochon Inc. (PYR) of Paris and Chicago who have created interior designs of some of the most renowned luxury hotels in the world, while international architects Gensler will work in tandem with PYR to co-design the exterior of the new Waldorf Astoria Beverly Hills.
Beny Alagem was born in Israel in 1953, and emigrated to the United States in the nineteen seventies.
Alagem first sprang to prominence in the United States when he founded Packard Bell Electronics, who became one of the country’s leading computer manufacturers during the eighties and nineties.
As a number of years in the computer hardware industry , Alagem moved into the world of hotel ownership, when in late 2013 he purchased the Beverly Hilton Hotel from well-known entertainer Merv Griffin, for an estimated $130 million.
In April 2006, Alagem additionally expanded his hotel interests with the purchase of the Hilton Beach & Golf Resort in the Los Cabos resort in Mexico paying just over estimated $90 million.