 In 1941 , Hernando Courtright , the vice president of the Bank of America , purchased the hotel with friends . Irene Dunne , Loretta Young and Harry Warner also became owners of the hotel as a result of their investment with Courtright . Courtright established the Polo Lounge " in honor of a celebrity band of polo players who toasted victories at the restaurant after matches in the bean fields " . In 1942 , Howard Hughes bought up half a dozen of the bungalows and lived there on several occasions throughout the decades . The hotel accommodated his eccentricities , including his request for " roast beef sandwiches delivered to a nook in a tree " . The Beverly Hills Hotel underwent significant renovation in the late forties when the porte cochere was expanded and painted in stripes . In 1947 Courtright opened the Crystal Room and the Lanai Restaurant , later called The <unk> . The building was first painted its famous pink color in 1948 to match the country club style of the period , and it became known as " The Pink Palace " . The following year , architect Paul Williams added the Crescent Wing . The Fountain Coffee Shop also opened at this time . 
