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Sheraton Los Angeles Harbor Hotel

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CALIFORNIA | LOCAL
December 30, 1993 | TED JOHNSON, TIMES STAFF WRITER
Owners of the Sheraton Los Angeles Harbor Hotel, the cornerstone of efforts to revitalize downtown San Pedro, say they are close to an agreement to sell the property to a foreign hotel investment group. Goldrich & Kest Industries of Culver City, which has operated the hotel in the red since it opened three years ago, says it may reach a deal today or Friday. Company officials declined to disclose the name of the potential buyer.
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CALIFORNIA | LOCAL
December 30, 1993 | TED JOHNSON, TIMES STAFF WRITER
Owners of the Sheraton Los Angeles Harbor Hotel, the cornerstone of efforts to revitalize downtown San Pedro, say they are close to an agreement to sell the property to a foreign hotel investment group. Goldrich & Kest Industries of Culver City, which has operated the hotel in the red since it opened three years ago, says it may reach a deal today or Friday. Company officials declined to disclose the name of the potential buyer.
NEWS
January 13, 1994
The Sheraton Los Angeles Harbor Hotel has been sold to a group of Indonesia-based investors who reportedly plan to continue operating the 10-story hotel as a Sheraton franchise. The deal, which was finalized Dec. 31, ends weeks of speculation over the fate of the high rise, owned by the Beacon Street Hotel Assn., a partnership of several Los Angeles area investors. Warren Breslow, a partner in Beacon Street Hotel Assn.
CALIFORNIA | LOCAL
July 9, 1993 | TED JOHNSON, TIMES STAFF WRITER
The Sheraton Los Angeles Harbor Hotel in San Pedro remained on the block Thursday after an auction brought in a disappointing high bid of only $7.5 million, one-fifth the cost of building the project. Owners of the 244-room hotel, which opened less than three years ago as part of efforts to revitalize downtown San Pedro, had hoped to get at least $13.8 million for the site. They rejected the high bid, which came from an unidentified group of Taiwanese investors.
CALIFORNIA | LOCAL
July 8, 1993 | TED JOHNSON, TIMES STAFF WRITER
When it opened almost three years ago, the Sheraton Los Angeles Harbor Hotel was hailed as the cornerstone of San Pedro's effort to revitalize its downtown area. New restaurants and shops would flourish thanks to the hotel's stream of business travelers and tourists. Ports O' Call Village would get a needed boost from visitors to the 10-story hotel, which boasted some of the most scenic guest rooms in the city with views of the port and cruise-ship terminal.
CALIFORNIA | LOCAL
April 25, 1993 | DEBORAH SCHOCH with staff reports
HOT SPOT: The old Buffy's coffee shop in downtown Torrance was considered a landmark among loyal customers who felt at home amid its 1950s-style Formica countertops and pedestal stools. No more. Buffy's moved across the street last month, and its old and hallowed quarters will soon be overrun with a new clientele: recruits from the Torrance Fire Department engaged in training exercises.
CALIFORNIA | LOCAL
December 5, 1993
NOTHING NOW SHOWING: The X-rated Pussycat Theatre just didn't sit well with developers spending $44 million to turn downtown Torrance into something that will rival Pasadena's trendy Old Town or the Gaslamp Quarter of San Diego. So 18 months ago they paid the theater owner $50,000 to stop showing the adult movies and clean up its exterior. Owner Barry Hartsfield soon may reopen the Cravens Avenue theater as a second-run movie house, showing films--not X-rated--at a discount.
CALIFORNIA | LOCAL
July 24, 1992 | GORDON DILLOW, SPECIAL TO THE TIMES
With foreign visitors apparently staying away from post-riot Los Angeles in droves, at least one South Bay community has come up with a novel approach to lure potentially fearful tourists to its hotels and shopping malls. The slogan for the effort could go like this: "Torrance! It's nowhere near L.A.!" That is not, of course, the city of Torrance's actual marketing slogan. (The city's actual slogans are "Destination Torrance," and "Torrance: Halfway to Everywhere!"
BUSINESS
February 11, 1996 | EVELYN IRITANI, TIMES STAFF WRITER
Financial advisor Richard Alter knows there are good real estate deals to be found in modern-day boomtowns such as Las Vegas, Palm Springs or Phoenix. But he hasn't had much success selling them to his Chinese clients, who view those wide-open spaces with disdain. "This looks like Mars," one incredulous Chinese investor told Alter, the managing director of Los Angeles-based Financial Capital Investment Co., after being shown property in Las Vegas.
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