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Why Big Hotel Brands Are Opening Doors to More Luxury Residences Around Los Angeles
Why big hotel brands like the Mandarin Oriental and Ritz-Carlton are opening more luxury residences in Los Angeles
High-end hospitality companies offer luster and perks to real estate seekers, from Rancho Palos Verdes overlooking the Pacific, to West Hollywood’s Sunset Boulevard, to the heart of Beverly Hills or downtown. Views and floor plans designed for entertaining have impressed showbiz buyers at the Pendry Residences, says director of sales Leo Medeiros. Full hospitality services, from valet to in-room dining, are calculated into the homeowners association fees, which average $2.50 per square foot per month, on par with other buildings tied to a hotel, says Medeiros.
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