July 19, 2025 Breaking News, Latest News, and Videos

Viceroy Hotel Completes Labor Deal, Sale:

The Santa Monica City Council helped finalize the sale of an iconic local hotel and earned an estimated $500,000 for the City thanks to an $80 million-plus transfer of ownership agreement.

Thanks to the extension of a labor agreement through August 2011, the sale of the Viceroy Hotel from Roscoe Real Estate Limited Partnership to Seaside Hotel Limited Partnership was officially completed on March 16, according to the City’s Economic Development Office.

Originally an issue on the council’s agenda at its March 8 meeting, the sale of the Viceroy Hotel was held to complete a collective bargaining agreement between union officials, the current hotel management, the new ownership group, and the City. Rod Gould, Santa Monica’s city manager, was authorized to negotiate a labor agreement with the affected parties to expedite the transaction.

“The council authorized the city manager to sign whatever documents were necessary so that the current owner of Viceroy Hotel can assign its ground lease to the new entity, and the council’s approval was subject to the seller and the buyer and the union demonstrating they have a collective bargaining agreement,” Miriam Mack, the City’s economic development manager, said before the sale was finalized.

By the afternoon on March 15, a collective bargaining agreement was indeed formalized and Seaside Hotel Limited Partnership officially acquired the Viceroy Hotel; KHM Viceroy Santa Monica, LLC, remains as the hotel’s operator.

Mack added the collective bargaining agreement, which had expired almost eight months ago, was only renewed and extended through the end of July; Seaside Hotel Limited Partnership must determine whether to move forward with a new labor agreement on Aug. 1.

“[The City] own(s) the ground lease, and the ground lease has a provision in it that if the property [or lease] is assigned, then the City gets a percentage of the net proceeds,” Mack said. “We estimate that the seller would be subject to a transfer premium of approximately $500,000.”

When the matter was before the council on the consent calendar, a valid labor agreement between the union and the Roscoe entity was not in place; the council pulled the issue from the consent calendar agenda and determined the transfer of ownership could not be completed before a labor agreement was instituted.

In an 82-year deal signed in 1966, the City entered into a ground lease agreement with Royal Inns of America, Inc., to develop “a first-class hotel,” which is currently the Viceroy, located on the corner of Ocean Avenue and Pico Boulevard, in the heart of the city, with an ocean view and within walking distance of the beach, Main Street, the pier, and the downtown shopping area. In September 2000, the council extended the lease another 17 years to make it a 99-year term ending in September 2065.

KHM Viceroy Santa Monica, LLC, had a collective bargaining agreement with Unite Here Local 11, which, prior to the March 16 extension, expired on July 31, 2010.

in News
<>Related Posts

Man Arrested in Brentwood for Impersonating Firefighter During Palisades Fire

July 18, 2025

July 18, 2025

The suspect faces at least 28 criminal counts—including 23 felonies—spanning incidents from 2023 to May 2025 Federal and local law...

West Coast Premiere of ‘The Opposite of Love’ Opens at Hudson Backstage Theatre

July 18, 2025

July 18, 2025

Produced by Neil Gooding Productions, behind shows like Back to the Future: The Musical, the play runs Thursdays through Saturdays at...

Study Highlights Economic Impact of Cap-and-Trade Extension in Los Angeles

July 18, 2025

July 18, 2025

Governor Gavin Newsom and legislative leaders are pushing to reauthorize the program this year, citing its role in generating 287,000...

Film Review: Superman

July 17, 2025

July 17, 2025

“This movie is packed with storyline, Superman lore, meaningful objects, and action.” writes Kathryn Whitney Boole Rated PG-13129 MinutesReleased July...

Multiple Drug Arrests Reported in Palisades Park in Recent Weeks

July 17, 2025

July 17, 2025

SMPD Reported Several of the Arrests Between June 29 and July 5 The Santa Monica Police Department reported several drug-related...

(Video) Did You Know Emma Chamberlain’s Coffee Shop is in Century City?

July 17, 2025

July 17, 2025

The outpost is a first for the popular influencer Did You Know Emma Chamberlain’s Coffee Shop is in Century City?...

Mayor Bass Hails National Guard Withdrawal as Victory for Unity

July 17, 2025

July 17, 2025

The Pentagon’s decision to reduce the troop presence follows weeks of legal challenges and public demonstrations Mayor Karen Bass celebrated...

DUI Checkpoints to be Conducted Across LA This Weekend

July 16, 2025

July 16, 2025

The LAPD selects checkpoint sites based on data indicating high incidents of impaired driving-related crashes and arrests The Los Angeles...

SMPD to Conduct Bicycle and Pedestrian Safety Operation on Friday

July 16, 2025

July 16, 2025

The focus will be on speeding, illegal turns, failing to yield or provide right of way to cyclists or walkers,...

Dodgers to Host Back to School Bash for Fire-Affected Families

July 16, 2025

July 16, 2025

The free event will offer free groceries, school supplies, outfits, haircuts, medical screenings, and carnival rides The Los Angeles Dodgers...

LA Sees Second Straight Year of Homelessness Decline, Leaders Celebrate Progress

July 16, 2025

July 16, 2025

The survey, designed by the University of Southern California, reported a 17.5% drop—the largest two-year decrease on record The Los...

LAPD Seeks Missing 63-Year-Old Man Known to Frequent Playa Vista

July 15, 2025

July 15, 2025

His family last heard from him via a group text on June 22 The Los Angeles Police Department’s Missing Persons...

Santa Monica Offers City-Owned Properties for Affordable Housing Development

July 15, 2025

July 15, 2025

The move aims to address the city’s Regional Housing Need Assessment of 8,895 units, with a goal of producing at...

California Hits Two-Thirds Clean Energy Milestone

July 15, 2025

July 15, 2025

This year, clean energy has powered the state for an average of seven hours daily, with over 90% of days...

Venice Beach to Host First Medal at 2028 Olympics

July 15, 2025

July 15, 2025

Venice Beach, known for its vibrant boardwalk, will kick off the 844 ticketed events, hosting the triathlon along its coastline...