Article Title:
Computer Entrepreneur to Acquire Beverly Hilton
Publication:
Los Angeles Times
Author:
Vincent, Roger
Publication Type:
Newspaper
Date:
12/5/2003
Pages:
C1, C11
Illustrations:
port of Merv Griffin
Notes:
Computer entrepreneur Beny Alagem of Beverly Hills, CA, bought the hotel through his real estate development company, Oasis West, from former talk show host and real estate mogul, Merv Griffin, for $130 million, or $223,000 per room; this price made it in 2003,'the most expensive hotel sale on a per-room basis in Los Angeles County in recent years, though less than half the $459,000 per room being paid for the Hotel del Coronado in San Diego...." Griffin bought the hotel in 1987 for $100 million from Baron Hilton, son of Conrad Hilton, founder of the eponymous hotel chain; Alagem co-founded the computer maker, Packard Bell, in 1986; "the hotel and the adjoining Robinsons-May department store have long been eyed by developers as a prime site for development that might include more shops ad perhaps apartments or condos;
Associated With:
PCAD id:
1485