OTHER NEWS - Nov. 26, 1991
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Korean Firms Buys Hyatt Wilshire: Seoul-based Koreana Hotel Co. has purchased the Hyatt Wilshire Hotel in Los Angeles for about $25 million in cash, according to sources close to the deal. The purchase of the 396-room hotel from Hyatt Corp. came after Korean-born investor Charles Lee paid $18.1 million at an auction Thursday for the 150-room Doubletree Resort in Cathedral City near Palm Springs. The latest deal raises the number of Korean-owned hotels in Southern California to three, including the Hilton Hotel in downtown Los Angeles. From Times
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