Fresh off its U.S. debut late last year, London-based Corinthia Group is making further inroads into the U.S. with its acquisition of two boutique hotels in Beverly Hills, Calif.
The neighboring properties, which together comprise 100 rooms, are currently flagged as the Maison and Mosaic hotels.
The deal is part of a joint venture between Corinthia and Kuwait's Action Real Estate Company, in which Corinthia parent company IHI holds a minority stake. Financial terms of the transaction weren't disclosed.
The hotels initially will be operated by Los Angeles-based Palisociety under the current branding, with oversight from Corinthia's development arm, Corinthia Real Estate Ventures.
Corinthia Real Estate Ventures will "handle asset management and explore opportunities for future value creation," Corinthia said.
The luxury hotel company is targeting a worldwide footprint of around 30 hotels within the next decade. Recent highlights in the group's expansion include a redevelopment of Brussels' historic Grand Hotel Astoria and the announcement of a 102-story hotel and residential project in Dubai.
Corinthia's debut U.S. hotel, The Surrey, opened last October on New York's Upper East Side.