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Beverly Hills Weekly
Beverly Hills, California
October 20, 2016     Beverly Hills Weekly
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October 20, 2016

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t- . ~ _: ~ '.~ ~ ::~ :5=. ............................ ~.,..,.~ ............ Since 1991, only 201 new hotel rooms have been built in Beverly Hills. The new Waldorf-Astoria replaces the same number of rooms being eliminated by the Beverly Hilton. CBRE Hotels, the preferred hospitality consulting company for all BeYerly Hills luxury hotels, analyzed the Beverly Hills hotel market. The 2016 CBRE Hotel Market Analysis concluded: One Beverly Hills "will not impact the Beverly Hills Luxury hotel market" as there is."significant unsatisfied demand."1 The CBRE study also determined that the 134-room boutique luxury hotel at One Beverly Hills will generate at least$8.7 million a year in new revenue to the City at hotel stabilizati3n/ One Beverly Hills will help satisfy this pent-up hotel demand and willgenerate vital new revenue for our City. This new revenue will support our vital city services including Police, -ire and Paramedics. ~Analysis of the Fiscal Impact-of the Proposed One Beverly Hills (Formerly 9900 Wilshire Boulevard Devlopment to the City of Beverly Hills) :- Page 3 and Page 19 2CBRE Hotels Hotel Market Analysis - Beverly Hills, Cali{rnia, pg. 2 One Beverly Hills www.OneBeverlyHiUs com For more inforrnati or to join us for a presentation, please call : :I (310) 746-5515 or email us at info@OneBeverlyHills:com t I i WANDA GROUP The Athens Group Richard Meier & Partners Architects ru, October 2016 * Page 23