Downtown Los Angeles’ Ace Hotel to close in January
The Ace Hotel in downtown Los Angeles will close on Jan. 31, 2024.
The hotel, which opened in 2014 at 929 S. Broadway, announced its closure on Instagram.
“Since 2014, you’ve answered the call with fervor and feeling and so much love,” the hotel wrote. “It’s been an honor to inhabit these hallowed halls and The Theatre for ten golden years, which feels as good a run as any.”
The building, which was built in the 1920s and was once the California Petroleum Building, will be converted “to a limited-service, rooms-only operation, managed via a tech platform,” a representative for Ace Hotel Group told KTLA.
While Ace operates the hotel, the building itself was purchased by Chesapeake Lodging Trust, a Maryland real estate investment trust, for $103 million in 2015. Chesapeake was itself acquired in 2019, and the building was sold again, this time to an unnamed investment firm, according to an Ace Hotel spokesperson.
“The Theater, long a beacon for performance and cultural happenings, will be managed separately,” the Ace spokesperson added.
The Los Angeles Times reports that “The Theatre at Ace Hotel plans to rebrand, and continue hosting live events, according to representatives.”
Alexis Lewis contributed to this report.
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