Santa Monica Hotel Ltd

Tokai Bank Plans Foreclosure: Tokai Bank said it will foreclose on the uncompleted Park Hyatt Hotel in Santa Monica. The 198-room hotel has been plagued by construction delays, cost overruns and disputes between owner Santa Monica Hotel Ltd. and the general contractor, Gosnell Builders Inc. Santa Monica Beach Hotel general partner Sam Stein, who had been negotiating with the bank to restructure the hotel's loan, said he was "shocked by Tokai's announcement" that it will foreclose.

Fitness trainer-to-the-stars Jackson Sousa is in a running feud with his landlord, the owners of Loews Santa Monica Hotel, where the health and fitness guru to the likes of Nick Nolte, Melanie Griffith and Charlie Sheen has a studio. Sousa contends that management is trying to elbow him out of the remaining six years of a lease and set up its own salon. Norman M. Goldman, the attorney for the hotel, said: "This guy has violated his lease in several respects and we expect to prove it in court."

Fitness trainer-to-the-stars Jackson Sousa is in a running feud with his landlord, the owners of Loews Santa Monica Hotel, where the health and fitness guru to the likes of Nick Nolte, Melanie Griffith and Charlie Sheen has a studio. Sousa contends that management is trying to elbow him out of the remaining six years of a lease and set up its own salon. Norman M. Goldman, the attorney for the hotel, said: "This guy has violated his lease in several respects and we expect to prove it in court."

Tokai Bank Plans Foreclosure: Tokai Bank said it will foreclose on the uncompleted Park Hyatt Hotel in Santa Monica. The 198-room hotel has been plagued by construction delays, cost overruns and disputes between owner Santa Monica Hotel Ltd. and the general contractor, Gosnell Builders Inc. Santa Monica Beach Hotel general partner Sam Stein, who had been negotiating with the bank to restructure the hotel's loan, said he was "shocked by Tokai's announcement" that it will foreclose.

The 350-room Loews Santa Monica Beach Hotel has opened at 1700 Ocean Ave., two blocks south of the Santa Monica pier. New York-based Loews Hotels will manage the property for the owners, Sidney W. Caplan and George T. Caplan of the limited partnership known as Santa Monica Hotel Associates Ltd. Architect of the eight-story hotel is Archisystems International. Rates range from $155 to $1,500.

Loews Santa Monica Beach Hotel, the first of several hotels planned or under construction in Santa Monica, will welcome its first guests Friday. Two blocks south of the Santa Monica Pier, the 350-room hotel at 1700 Ocean Ave. features a five-story atrium and is decorated in what hotel officials describe as "contemporary Victorian." The luxury hotel has 17,000 square feet of meeting and banquet space, and several small conference groups have already booked the hotel. Earlier this year, the American Film Market, the U.S. version of France's Cannes Film Festival, announced that it would move its event to the Loews Hotel in 1991.

The first major beach front hotel project to be approved by the city of Santa Monica in many decades will break ground in December on 2.6 acres bordered by Ocean Avenue, Arcadia Autoway and Appian Way. The $60-million Santa Monica Beach Hotel, a development of Santa Monica Hotel Associates Ltd., to be operated by the Hyatt Hotels, represents a breakthrough for the hotel industry in that coastline area.