Downtown's Ace Hotel Up For Sale Though Food and Beverage Will Stick Around

As they say, buy low and sell high. First reported by the LA Business Journal, the Ace Hotel, which instantly transformed the corner of 9th and Broadway into one of the hottest blocks in Los Angeles, is now up for sale at the cool price of $100 million dollars, which clocks in at $550,000 per room.

For now, the food & beverage options, such as L.A. Chapter and the rooftop, are slated to remain the same, though the new owner could opt to change the entire concept of the hotel and attached theater venue for a hefty termination fee. That seems unlikely, as most of the value attributed to the building comes from the Ace Hotel banner and its related assets, though the Business Journal does say that a prospective buyer could potentially add more food and beverage enhancements.