Rodeo Drive is a step closer to getting another LVMH brand — but it’s not a luxury store this time.
The Beverly Hills Planning Commission unanimously approved the French conglomerate’s plans to build a 115-key Cheval Blanc hotel on the corner of Rodeo Drive and South Santa Monica Boulevard, according to a commission meeting on Monday night.
The city council will now vote on the project, a formal tally that’s typically seen as a matter of procedure after an approval from planners.
LVMH bought the building at 468 Rodeo Drive––formerly occupied by Brooks Brothers––for $245 million in 2018, public property records show. Two years later, the luxury retailer filed plans with the city to develop the hotel.
Under current plans, the nine-story hotel will also include a wellness center, spa, conference room, restaurants and about 25,000 square feet of street-level retail space.
The city’s approval came two months after a number of other luxury retailers voiced objections to the plans, prompting LVMH to ask the planning commission to halt its review of the project.
Hermès, Giorgio Armani and Chanel were among the retailers with concerns that the hotel would block a shared alley used by their stores to serve VIP clients. The high-end retailers also argued construction of the project would disrupt their own operations and asked for assurances they would be compensated for any interruptions or damage, according to planning documents.
Most of the retailers’ grievances were addressed by the end of May.
The Cheval Blanc isn’t LVMH’s only property on the famed luxury street. In December, the company bought the former 86-room Luxe hotel on Rodeo Drive for $200 million, though it’s unclear what the retailer plans to do with that property.