OWNERS OF LOS ANGELES' FORMER ACE HOTEL PARTNER WITH KASA TO LAUNCH A NEW BRAND DELIVERING MODERN HOSPITALITY AT THE DOWNTOWN LANDMARK

AJU CONTINUUM Selects Kasa to Operate Former Ace Hotel, Driving Reimagined Guest Experience and Profitability Under "STILE" Brand

LOS ANGELES, June 11, 2024 /PRNewswire/ -- AJU CONTINUUM, a global investment company specializing in real estate, branding, and technology, today announced its partnership with Kasa Living, Inc. (www.kasa.com) to manage and operate the historic property at 929 South Broadway in the heart of downtown Los Angeles. Formerly the Ace Hotel Downtown Los Angeles, the reimagined property has been relaunched as STILE Downtown Los Angeles by Kasa.

Since assuming management in February, Kasa has driven significant improvements across key metrics, including guest review scores, revenue generation, and profit margins. By implementing its proprietary technology stack and centralized operations, Kasa has lowered operating expenses while maintaining high-quality guest experiences and honoring the property's storied legacy.

"Partnering with Kasa has introduced us to a modern, efficient approach to hotel management, seamlessly integrating with our lifestyle accommodations brand, STILE," said Jaisun Ihm, Chief Executive Officer at AJU CONTINUUM US. "Kasa's proven expertise in implementing modern hospitality practices has resulted in measurable improvements to our operations and profitability. Kasa has refined traditional hotel management, enhancing profitability while delivering the perfect balance of efficiency, guest experience, and brand DNA."

"The neighborhood is continually evolving with a thriving art scene and cutting-edge business developments. We are eager to contribute to the continued revitalization of Downtown LA, bringing innovative solutions and renewed energy back into our neighborhood to foster growth and transformation," said Jane Jeong, Director of Asset Management at AJU CONTINUUM.

STILE is a lifestyle accommodations brand crafted for the Modern Nomad. The offerings are designed to merge a sense of community, inspirational aesthetics, and authentic local experiences with all the domestic comforts one expects from a home. STILE is characterized by modern yet timeless design and innovative amenities, promoting a profound sense of 'home pride.'

In addition to the 182 guest rooms, STILE DTLA by Kasa features 5,000 square feet of meeting and event space, a rooftop splash pool and lounge, and an intimate 1,600-seat independent theater for live entertainment. As part of the transition, AJU CONTINUUM has invested significantly in technological and aesthetic upgrades, including new high-speed wifi, curated works by South Korean artist Jibin Im, and a new wine bar concept for the rooftop bar from Brooklyn-based SAUCED (www.saucedbklyn.com). Exclusively crafted for STILE, in-room bathroom amenities and face masks are designed with meticulous attention to detail. Made in Korea, the renowned cosmetic capital of the world, these products are tailored to elevate the guest experience at STILE DTLA by Kasa, embodying the essence of quality and relaxation.

"We are thrilled to bring our vision of modern hospitality to downtown L.A. in partnership with AJU CONTINUUM," said Roman Pedan, Founder and CEO of Kasa. "By combining cutting-edge technology, including centralized support systems for our on-site staff, with a relentless focus on the guest experience, we deliver the style and character of a boutique hotel with the consistency and efficiency of a world-class operator. We look forward to being an engaged, long-term member of this vibrant neighborhood."

The United Theater on Broadway (www.theunitedtheater.com), directly connected to the hotel, will continue to operate as an open venue hosting concerts, performances, and special events under the management of AJU CONTINUUM. The Theater originally opened in 1927 as the flagship movie theater for United Artists. Restored to its former glory and featuring a Spanish Gothic design, the theater blends historic charm with modern amenities, encapsulating the spirit of the golden age of cinema and the vibrant, contemporary art scene of Los Angeles. For more information or to book a stay at STILE DTLA by Kasa, visit https://s.kasa.com/stiledtla.

About AJU CONTINUUM

AJU CONTINUUM is a global investment company specializing in real estate, branding, and technology. With more than 30 years of experience, the company provides services such as property investment and development, branding and operations, and technology industry investment. Headquartered in Seoul, South Korea, with an office in New York City, AJU CONTINUUM is dedicated to making investments that improve customers' lives. Previously known as AJU Hotel and Resort, the company entered the hospitality industry in 1987 with the acquisition of Hotel Seokyo and has since diversified across hotel investment, development, and management across South Korea, the United States, and England. For more information, visit ajucontinuum.com.

About Kasa

Kasa represents the next generation of hotel management, combining proprietary technology, streamlined operations, and a compelling hospitality brand to deliver exceptional guest experiences and maximize property owner profitability. Our team of industry veterans from Airbnb, Highgate, KKR, and Apollo has created a unique model that offers the consistency of a major hotel chain with the convenience and character of a modern short-term rental.

With over 75 properties across the US and partnerships with leading institutions like Starwood Capital, Berkshire, Brookfield, and TPG, Kasa is rapidly becoming the accommodations brand of choice for guests, property owners, and communities alike. Discover the Kasa advantage at kasa.com.

Media Contact: Daniel Chang, [email protected]

SOURCE AJU CONTINUUM