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Ambassador Hotel furnishings are being turned to cash by auctioneer.


Ambassador Hotel furnishings are being turned to cash by auctioneer

What's it like to gut one of Los Angeles' landmarks? If you're from Dayton, Ohio, it doesn't mean much. Just ask Glenn Luehmann, the man in charge of auctioning off furnishings of an L.A. hotel industry grand ol' lady, the Ambassador Hotel on Wilshire Boulevard.

To Luehmann, project coordinator for National Content Liquidators
Liquidator
Person appointed by an unsecured creditor in the United Kingdom to oversee the sale of an insolvent firm's assets and the repayment of its debts.
 in Dayton, it's just another job.

"It's a famous place, you hear about it in New York and all over. It's in the papers, like USA Today. It's a fascinating place but we're here selling the room fixtures and that's what it's all about," he said.

Luehmann said he expects about 300,000 pieces of furniture will be sold for some $500,000. The auction began June 20 and will continue until all the furniture is sold, which will probably be around Aug. 1, he said.

National Content Liquidators was hired by (Donald) Trump Wilshire Associates, owner of the property, to conduct the auction and will collect a commission on the the liquidation's gross sales. Luehmann said commissions range between 10 percent and 50 percent of the sales.

He said he didn't know if the auction means Trump has made a decision on the property, rumored to be the future site of such diverse structures as an office tower or high school.

The hotel, which opened in 1921, was at one time the site of many Hollywood parties and other high-society functions. It's also known as the site where Sen. Robert Kennedy was shot and killed during his presidential bid in 1968.

Currently, production companies use the hotel as a setting for movies, television shows and commercials.

PHOTO : Luehmann: 300,000 pieces for sale
COPYRIGHT 1991 CBJ, L.P.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Article Details
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Title Annotation:liquidation of hotel assets
Author:Deady, Tim
Publication:Los Angeles Business Journal
Date:Jul 8, 1991
Words:288
Previous Article:Hotel life was nearly the death of him. (Michael Ribero almost died by overworking as Hilton Hotel Corp.'s marketing chief)
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