There will be no ultra-luxury boutique hotel in Beverly Hills, as the world's richest man Bernard Arnault had previously planned.
The residents of Beverly Hills have voted, and the outcome meant a no to the luxury hotel. Arnault has promised to follow the wishes of the Beverly Hills residents.
Arnault owns the luxury company LVMH, which in turn owns a large number of luxury brands such as Louis Vuitton, Dior, Kenzo and Givenchy.
Source: TT-DI.SE
