Broughton Hospitality Acqruires Palos Verdes Inn
HUNTINGTON BEACH, CA, July 12, 2006 Broughton Hospitality Group, Inc. (BHG) announced today their acquisition of the Palos Verdes Inn located in Redondo Beach, CA. BHG has immediately taken over daily operations of the 110-room property as negotiated in the deal. The company plans to take the property through a multi-million dollar renovation expected to begin in the fourth quarter of 2007. The renovation project will update the existing building while also adding facilities and modern amenities for both business and leisure travelers.
The Palos Verdes Inn has been a landmark in the South Bay communities (serving Redondo Beach, Hermosa Beach and Manhattan Beach) since the late 1950's, and stands proud as the oldest hotel in the area. "We are thrilled about this new venture because of its location in such an expanding market and the opportunity to bring our name to the South Bay," said BHG President Larry Broughton. The Inn is conveniently located just steps from the beach at the foot of the Palos Verdes Peninsula, and nearby to the King Harbor Marina and Del Amo Center, one of the world's largest shopping malls. The property is host to Chez M'elange, a four star award-winning restaurant, and also sits among local retail outlets Bristol Farms and Bally's Total Fitness.
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