The Standard hotel on the Sunset Strip in West Hollywood will to close on Friday, 22 years after opening with the star-studded support of celebrities like Leonardo DiCaprio, Cameron Diaz and Benicio del Toro.
The location was Hotelier Andre Balazs first in the Standard chain of boutique hotels. The chain, which has since grown to six locations in the Los Angeles area, New York, Miami and London, operates under parent company Standard International.
Balazs stepped down as chairman in 2017.
The hotel posted a notice on Instagram saying it was:
“unable to prevent a significant increase to its lease, which makes operating the property impossible.”