SBE Buys Le Meridien Property in Los Angeles
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Le Meridien Hotel at Beverly Hills was purchased by Los Angeles nightclub owner and hotelier Sam Nazarian’s SBE Hotel Group from Le Meridian Hotels & Resorts, SBE said.
The price was not disclosed, but a real estate source said SBE paid about $90 million for the 297-room property.
Le Meridien bought the hotel for about $80 million in 1999. The property, which opened as Hotel Nikko at Beverly Hills in 1991, will continue to operate as a Le Meridien for the time being, the buyers said.
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