Luxury hotelier Fairmont Hotels & Resorts will operate the landmark Century Plaza hotel in Century City when it reopens in 2018 after a major makeover that includes the addition of two condominium towers.
Fairmont will run the hotel and also serve the residents of the condo skyscrapers under construction behind the 50-year-old building on Avenue of the Stars, developer Michael Rosenfeld of Woodridge Capital Partners said at an event there Thursday.
The project is one of the largest underway in the region at a cost of $2.5 billion. The number of hotel rooms will be reduced to 394 from 726 in part to make way for 63 for-sale residences in the old crescent-shaped structure that will be called the Fairmont Century Plaza Hotel and Hotel Residences.
Rosenfeld hopes to secure a five-star rating for the hotel.
The twin 46-story towers behind it will have 227 condos, he said. Prices for the units will be set later.
The complex will have new boutiques, restaurants, fountains and a public plaza with a 23-foot-tall sculptural head by Spanish artist Jaume Plensa.
“The Century Plaza will have the best of everything,” Rosenfeld said.