Q3

2021

DREAM V

Dream V Property Update

UPDATE ON THE OPERATIONS OF DREAM HOTEL AND THE ADJACENT TAO GROUP F&B VENUES

Dream V 2021 Q3 Report

UPDATE ON THE OPERATIONS OF DREAM HOTEL AND THE ADJACENT TAO GROUP F&B VENUES

LOCATION

6417 Selma Ave

Hollywood, Los Angeles, California

ANNOUNCEMENT

Relevant is pleased to announce that the Dream V project  has successfully fulfilled all job creation requirements for its investors, and that we will now be switching to a  leasing structure with Tao Hospitality. Aside from this, the  venues kicked off 2021 with a bang – welcoming celebrities  like Drake, hosting a filmed feature of award-winning Dos  Hombres, and enjoying indoor dining once again now that  COVID guidelines have eased.

INTRODUCTION

Opened in Q2 2017 and located in the center of  Hollywood’s Vinyl District, Dream Hollywood is the  Dream Hotel Group’s west coast flagship hotel. The 178-  key luxury lifestyle hotel features over 15,000 square  feet of food & beverage space operated by renowned  hospitality and nightlife company Tao Group. Dream’s  10,000 square foot rooftop features a lounge, café, and  pool, all with sweeping unobstructed views of the  Hollywood Hills. The Tao Group venues have rapidly  developed into a must-see culinary and nightlife  experience in Hollywood.

DRAKE, INDOOR DINING , & DOS HOMBRES

In Q3 of 2021, Tao, Dream, and The Highlight Room were excited to welcome guests back indoors, while still  keeping outdoor patios open for those who prefer to dine outside. With visits from top rap star Drake  and birthday parties for celebrities like Belly, Hollywood’s favorite outdoor hospitality destinations  returned in style. Bryan Cranston (a renowned film, TV, and theater actor) and Aaron Paul (the critically-  acclaimed star actor of Breaking Bad) filmed a feature for their Dos Hombres award-winning artesanal  Mezcal on the beautiful Highlight Room rooftop. In line with city guidelines, the venues enjoyed opening  their bars with expanded capacity and seating while ensuring the utmost safety of each guest.

NIGHTLIFE RETURNS, TYGA MIDSUMMER PARTY

In Q3 of 2021, Tao Restaurant was thrilled to announce they are once again offering bar service and  expanding capacity in the indoor dining room and lounge. They also hosted the Tao Swedish Midsummer  party with Compton rapper Tyga – the 64th most listened to artist in the world. At the Highlight Room,  Gunna celebrated his birthday, while the rooftop bar fully reopened with even greater permitted capacity – allowing guests to once again enjoy late night cocktails at the Grill, dance parties under the stars, and  poolside events on the weekend. Starting Memorial Day, the Highlight Room invited guest DJs every  Saturday & Sunday to perform the sounds of summer while guests soak up the sun poolside.

COVID RECOVERY & NEW LEASING STRUCTURE

HIRC’s Dream V properties experienced an active and successful start to 2021. Our property  managers have worked hard to continuously get better at adapting to the circumstances  caused by COVID-19, and they always find creative ways to attract and maintain high levels of  guest activity. HIRC’s partnership with Tao Group Hospitality has also switched from a project  owner structure to a leasing structure with the TAO venues (Tao Restaurant and The Highlight  Room). In 2021, we are now collecting rent from TAO Hospitality for these venues, which allows  for more consistency in our income, less variability, and more streamlined management.

图片7
Hollywood International

HOLLYWOOD INTERNATIONAL REGIONAL CENTER

LOS ANGELES OFFICE

1605 North Cahuenga Blvd  Hollywood, CA, 90028

+1 323 466 1400