On July 28, 2014 the Laurus Corporation purchased the Marriott Warner Center hotel.
“The acquisition of Marriott Warner Center is another step forward executing Laurus’ focused investment strategy – seeking prime value-add opportunities requiring complex structuring, active management, repositioning and significant renovation opportunities,” said Phil Cyburt, Chief Executive Officer of Laurus Corporation. “With the influx of new businesses and expansion of corporate campuses in the area, along with the Valley’s projected 3.5% population growth over the next four years, there is tremendous opportunity to maximize the asset’s ability to generate revenues in both the corporate and leisure segments.”
“The Marriott Warner Center is a prime business hotel in one of the country’s top gateway markets, and Woodland Hills in particular continues to enjoy robust demand from the multitude of corporate headquarters and mission-critical offices located in the area. Coupled with Laurus’ ability to consistently execute on value-add business plans and achieve attractive risk-adjusted returns, this acquisition represented an ideal opportunity to allocate capital from Laurus’ private equity platform, Ethika Investments,” added Douglas Kiel, Chief Financial of Laurus Corporation.
“The hotel’s guests will benefit from a $10 million renovation that will refresh the public areas and guest rooms and enhance the hotel’s abundant amenities. Our firm places substantial importance on maximizing guest satisfaction through improving the physical appeal of the asset, providing exemplary service, enhancing the dining experience and being responsive to guest needs, down to the smallest details,” said Officer Jean Paul Szita, President of Laurus Corporation.
The Marriott Warner Center
21850 Oxnard Street, Woodland Hills