Developers Announce Agreement with Marriott International to Build a New 377-Room Hotel Tower Next to L.A. LIVE (MAR)

A seasoned development partnership with a strong record of success in downtown Los Angeles today announced an agreement with Marriott International, Inc. MAR to develop a new 377-room hotel tower adjacent to L.A. LIVE. The 22-story high-rise will house two Marriott International hotel brands: Courtyard by Marriott and Residence Inn by Marriott. It will be built at the Northwest corner of Olympic Boulevard and Francisco Street, on an entitled site the developers have agreed to purchase from AEG. Equity funding will be provided through the EB-5 Investor Green Card Program.