LOS ANGELES LANDMARK HOTEL CLOSES AFTER 60 YEARS TO REBUILD

Los Angeles – May 25, 2011 – S. Chris Park, Vice President and General Manager of the Wilshire Grand Hotel, announced the hotel’s closure on December 31, 2011 after 60 years of service in downtown Los Angeles at the intersections of Figueroa Street between Wilshire Boulevard and 7th Street. Operated originally as the Los Angeles Statler and known over the last half-century as the Statler Hilton, then the Omni Los Angeles, the behemoth property is currently operating as The Wilshire Grand Hotel. Mr. Park offers, “The Wilshire Grand continues its on-going investment, not only for the future of our business, but also for our guests and for the future of downtown Los Angeles with the addition of two new towers, one of which will be a new hotel, to grace the downtown skyline.”