Unique Partnership Will Finally Give Los Angeles the Hotel Rooms it Needs Adjacent to the Convention Center

HIL ANDERSON, SENIOR EDITOR
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Los Angeles – A $750 million hotel project that will serve the Los Angeles Convention Center was announced today by KB Urban, a subsidiary of home builder KB Homes,  and AEG, a subsidiary of the Anschutz Company, which owns or controls companies such as Staples Center, sports such the Los Angeles Kings (NHL), etc.  The 54-story project, which is scheduled to open for business in 2010, includes an 876-room Marriott Marquis that will serve as the convention center’s headquarters hotel, and a 5-star Ritz-Carlton luxury hotel with 124 rooms. The Los Angeles Marriott Marquis will occupy 18 floors and boast the largest ballroom in the city, with capacity for up to 3,000 seated guests. Above the hotels will be  216 luxury residential condominiums. The 2 million square-foot property will serve the planned L.A. Live commercial development as well as the convention center. Marriott Hotel Services, Inc., will be the exclusive hotel operator of the Los Angeles Marriott Marquis and The Ritz-Carlton Hotel Company, LLC, a wholly owned subsidiary of Marriott International, will manage The Ritz-Carlton Hotel, Los Angeles.

Reach Daniel Weidman at KB Home at (310) 231-4031, or dweidman@kbhome.com; Michael Roth of AEG at (213) 742-7155, or mroth@aeg-la.com; Roger Conner of Marriott International at (301) 380-5605, or roger.conner@marriott.com; Vivian Deuschel of Ritz-Carlton at (701) 941-6225.