The Hollywood Roosevelt Hotel opened in 1927, financed by such Hollywood luminaries as MGM studio head Louis B. Mayer and superstar couple Mary Pickford and Douglas Fairbanks. As soon as the hotel threw open its doors, it was the place to be seen in town. On May 16, 1929, the first Academy Awards ceremony was held in the hotel's fashionable Blossom Room. The winners had been announced to the press three months earlier. It was the only time the awards were held there.