(Source: The Wall Street Journal)
Sam Nazarian is accustomed to success and fame. He operates some of Los Angeles’ most popular nightspots, including such paparazzi-besieged watering holes as Area, MI-6 and Hyde Lounge. He has played himself on the cable-TV show “Entourage” and lives next door to actor Leonardo DiCaprio in Hollywood Hills.
But a foray into high-end hotels has turned into a costly slog for the 34-year-old impresario amid the worst hotel market in decades.
Read the full article by Kris Hudson, “Nightclub Owner’s Hotel Venture Slams Into Slump’s Ugly Reality” in the Wall Street Journal (Nov 4, 2009).