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Wednesday, May 18, 2022

Palisociety Eyes Growth

Venice-based Palisociety is growing, and has plans to open a handful of hotels this year and next and launch a new brand.
Locally, Palisociety is opening new hotels in Hollywood and West Hollywood. Both are expected to be in business by the end of the year.

Palihouse West Hollywood will have 95 guest rooms, a pool, two dining options and a lobby.
“It’s a property that we actually acquired during Covid with one of our existing ownership groups and were approached in an off-market transaction,” Palisociety Founder Avi Brosh said of the new property.
Palihotel Hollywood, meanwhile, will have 76 rooms, a large pool and courtyard and a restaurant concept.

“We have a hotel in Westwood called Palihotel Westwood and the ownership group there acquired the former Days Inn on Sunset Boulevard, and because we had a preexisting relationship and things were going well, they invited us into the property to come in and reimagine what it could be,” Brosh said. “We had been looking to do something in Hollywood for probably 10 years. Nothing really ever suited us because we wanted to do something a little bit smaller in a somewhat iconic location, and that’s somewhat hard to find.”

Outside of L.A., the company is opening hotels in San Diego in the first quarter of next year; in Tampa in the third quarter of next year; in New Orleans in the third quarter of next year; and in Alburquerque at some point next year.
“Prior to Covid we were expanding our hotel enterprise, our brands, and opening new hotels,” Brosh said. “Prior to Covid, we had opened nine hotels over the prior year or so and had gone through a robust expansion. When Covid hit, once we got our bearings, I thought that that was going to be a period when we were going to be sitting on our hands a little bit … It was a disorienting time.”

To his surprise, Brosh said the company had remained incredibly busy.
“During Covid we transitioned a little bit from being a hotel operator to more of a private equity shop” looking at more opportunities, he said.
“We saw attractive opportunities to buy properties and acquired another hotel company during Covid,” he added. “We were fortunate to not be in a distress situation with respect to our financial health and were able to take advantage of some of these opportunities.”
The company Palisociety acquired is called Arrive Hotels and Restaurants. The New Orleans and Albuquerque hotels Palisociety is opening next year will be under the ARRIVE by Palisociety banner.

“Coming out of Covid, we doubled the size of the company in a two-year period, which has been very exciting,” Brosh said.
In 2023, Palisociety also plans to launch a new brand, dubbed Le Petit Pali. The concept is a high-end bed and breakfast format and will make its debut with three California hotels opening in the summer of 2023, including one in Brentwood.

Exterior of coming Palisociety hotel.
Paola Mendez
Paola Mendez
Paola Mendez graduated from Los Angeles Valley College, then transferred to University of California, and now serves as a Receptionist and Office Assistant to the Los Angeles Business Journal. Paola wears many hats in different departments and is trilingual in English, Spanish and French.

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