 On December 30 , 1992 , the hotel closed for a complete restoration , said to be in the region of $ 100 – 125 million . The project lasted two and a half years with the hotel reopening on June 3 , 1995 , with upgrades to furniture and fittings . The hotel is now managed and owned by the Dorchester Collection , organized in 1996 to manage the hotel interests of the Brunei Investment Agency . The west coast regional director for the Dorchester Collection oversees The Beverly Hills Hotel as well as the Hotel Bel @-@ Air . In 2012 , the hotel celebrated its 100 @-@ year anniversary and began to remodel its lobby , with the Polo Lounge , pool cabanas and Cabana Cafe , and guest @-@ rooms and suites to be renovated by 2014 . The hotel was also named the first historic landmark in Beverly Hills in September 2012 . 
