Hotel Per La to Open at The Former Nomad Hotel Site in Downtown Los Angeles

USA, New York City, New York. August 15, 2022

Hotel Per La Los Angeles, a new lifestyle property at 649 South Olive Street in Downtown Los Angeles, announces its opening at the former site of the NoMad Hotel. Now available for bookings, Per La softly opened July 11, 2022 just in time for the Major League All-Star Weekend in Los Angeles, followed by a grand opening in September. A member of Preferred Hotels & Resorts, the 12-story Hotel Per La will feature 241 signature guest rooms, and a variety of public spaces, including 10,000 square feet of versatile event space, the debut of a new rooftop bar & pool space overlooking the LA skyline this July, and a new ground-floor café and restaurant launching this September.

Existing ownership has partnered with HN Capital Partners to invest in the repositioning and reopening of the hotel. Denver-based Sage Hospitality Group was selected as the operations partner, overseeing management of the hotel and the various food & beverage concepts.

Located in the Giannini Building, the former Bank of Italy home originally built in 1922, the reimagined property will retain the signature features of the previous hotel, while enhancing the guest experience. HN Capital Partners has collaborated with Sage Studio to revamp and expand the property's guest offerings. They are introducing new food & beverage concepts that highlight community-driven dining experiences, and working closely with a number of local Los Angeles based creative partners to bring a new hospitality space to the Downtown neighborhood.

"HNCP is excited to work with the existing ownership group and Sage to rebrand and relaunch this unique property. Since our founding, we have had a focus on creating unique luxury and service experiences in lifestyle hotels we acquire or develop, with a keen eye on changing consumer preferences. This hotel is directly within that strategy," said Vipin Nambiar, Founder & Managing Partner of HN Capital Partners. "This acquisition is also special in that we were able to welcome Jeremy Selman to our team as a partner to help execute this investment with me. Jeremy is a true hotelier and has had a long and successful tenure in hospitality. He also has a deep understanding of this hotel and property given his prior role at Sydell. We look forward to welcoming guests to the hotel very soon."

"We are truly honored to welcome this iconic hotel to the Sage family, as it represents the type of luxury lifestyle property we plan to strategically add to our portfolio in the coming years," said Walter Isenberg, president and CEO of Sage Hospitality Group. "This hotel marks a new evolution for our organization as we work to become the undisputed lifestyle hospitality company in the nation."

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Hotel Revenue Management: Every Square Foot Matters


Traditionally, hotels have employed a room-centric revenue model. The primary focus was on pricing strategies that could generate the most revenue from the sale of rooms. However, the pandemic has forced hoteliers to look beyond room revenue exclusively, and to maximize all available revenue streams. How is this accomplished? By re-imagining the use and function of every square foot of a hotel property, and how revenue is generated from it. For example, some hotels are rethinking their spaces for different uses - offering rooms for private day meetings, or offering suites for private dinners. Other hotels with meeting spaces are moving beyond daytime conferences and events, and figuring out how to book those spaces in the evenings, on holidays and weekends, for such things as exhibitions, workshops, rehearsals and pop-ups. Still other hotels are leasing work spaces or parking spaces to businesses in their local market. The October issue of the Hotel Business Review will report on how some leading hotels are re-inventing their revenue management strategies.