Japanese Investors Purchase the Riviera County Club
The article by Kenneth Garcia (Metro, May 24) is a comprehensive treatment of the proposed sale of the Riviera Country Club, but it does prompt us as the present owners of the property to offer these comments:
- As we have said many times, Laaco Ltd. never stated that Riviera was for sale, nor did we ever list the property with a broker for that purpose. However, as we also stated in a response to questions that if anyone put a concrete, formal offer on the table, we would have to consider it, in the best interests of all the (300) persons who own Laaco.
- The article makes it sound as though a vast majority of the membership is upset with the announcement. I’m not aware that most of the members are angry. A more extensive poll of the membership would, in my opinion, clearly reveal they are not.
- The statement we released announcing the agreement in principle included a number of comments by the buyers concerning plans for the club, should the transaction be finally completed. These intentions to continue to operate Riviera as a country club, to honor present memberships, and to maintain the club as a top-quality facility were major considerations in Laaco’s decision to sign this agreement.
CHARLES F. HATHAWAY
Managing Partner
Los Angeles Athletic Club
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