Hyatt Regency’s Century Plaza Hotel is set to checkout on March 1 for a two-year, $2.5 billion renovation.
When the new 1.5 million sq. ft. development reopens in early 2018, the storied Century City hotel will have two towers behind the crescent-shaped hotel with 290 luxury residences.
The project coincides with a major redevelopment of the area, including the $800 million redesign of Westfield Century City and Interpublic Group’s 10 marketing, advertising, and public relations firms move to The Plaza.
The hotel, with its iconic crescent shape and designed by Minoru Yamasaki, will be restored with 394 guest rooms and suites and 63 residences.
The open air lobby will be transformed by design firm Yabu Pushelberg connecting public plazas and fountains to a central two-acre garden surrounded by restaurants and retail.
In total, there will be 100,000 square feet of retail on the site.
The two 46-story towers designed by Pei Cobb Freed will feature 290 residences.
Woodridge Capital Partners lead the $2.5 billion project, securing $450 million in EB-5 funding and winning Los Angeles City Council approval in 2013.
Hyatt will no longer manage the hotel after it closes in March, but an agreement with the hotel union will allow members to apply for their jobs after the hotel’s reopening. The LA Times reports that the hotel employs 500 workers.
Hyatt Regency released the following statement to Westside Today about the 500 jobs:
“We have sincerely enjoyed flying the Hyatt Regency flag over the esteemed Century Plaza hotel for the past 10 years. Through the transition, we remain focused on the well-being of our hotel associates. We are dedicated to ensuring that our associates are provided with support and guidance and we will work with other Hyatt-branded hotels, the unions and the local community to identify potential employment opportunities for them.”
