US: HN Capital Partners and Sage Hospitality have launched the lifestyle property Hotel Per La which occupies the former NoMad Hotel in Downtown Los Angeles.
Hotel Per La is now available for soft bookings. It features 241 rooms, a rooftop bar and pool space, 10,000 square feet of event space, and a ground floor cafe and restaurant launching in September.
The existing owners of the building collaborated HN Capital Partners to invest in the repositioning and reopening of the hotel. Sage Hospitality Group have been selected as the operators.
Vipin Nambiar, founder and managing partner of HN Capital Partners, said: ”HNCP is excited to work with the existing ownership group and Sage to rebrand and relaunch this unique property. Since our founding, we have had a focus on creating unique luxury and service experiences in lifestyle hotels we acquire or develop, with a keen eye on changing consumer preferences. This hotel is directly within that strategy.
“This acquisition is also special in that we were able to welcome Jeremy Selman to our team as a partner to help execute this investment with me. Jeremy is a true hotelier and has had a long and successful tenure in hospitality. He also has a deep understanding of this hotel and property given his prior role at Sydell. We look forward to welcoming guests to the hotel very soon.”
Walter Isenberg, president and CEO of Sage Hospitality Group, said: “We are truly honoured to welcome this iconic hotel to the Sage family, as it represents the type of luxury lifestyle property we plan to strategically add to our portfolio in the coming years. This hotel marks a new evolution for our organisation as we work to become the undisputed lifestyle hospitality company in the nation.”
Sage Hospitality Group, based in Denver, is a hospitality management, investment and development company operating across four divisions: Sage Hotel Management, Sage Restaurant Concepts, Sage Studio and Sage Investments.
HN Capital Partners is an investment manager with a focus on real estate development, hospitality assets and structured investments.