Hotelier André Balazs, whose stylish boutique properties have long attracted film stars, media moguls and fashion models, is looking to get out of the traditional hotel business. Mr. Balazs—who operates the historic Chateau Marmont in Los Angeles, the chic Mercer in lower Manhattan and London’s exclusive Chiltern Firehouse hotel—plans to convert at least the first of those hotels into a private residential club and then expand in new cities by creating more members-only properties with annual membership dues.

Source: Wall Street Journal July 28, 2020 09:34 UTC