Corinthia Group said on Monday it had acquired two boutique hotel properties in a prime location in Beverly Hills, California together with Action Real Estate Company of Kuwait.

The acquisition of the neighbouring Maison and Mosaic Hotels by the Action Corinthia joint venture, in which IHI plc owns a minority stake, is part of a broader strategy for the Beverly Hills market. Between them, the two properties have roughly 100 rooms.

CEO Simon Naudi said this was an important step forward for the Corinthia Group, which trades as IHI plc.

"Beverly Hills is one of the world’s foremost hospitality destinations and we are determined to add value and create luxury products and services to the benefit of the local community and our Corinthia brand’s global positioning," he added.

Action Real Estate Company Chairman Sheikh Mubarak AM Al Sabah meanwhile noted the venture's entry into the prestigious market marked a significant milestone in their strategic partnership with Corinthia.

Beverly Hills is one of the world’s foremost hospitality destinations.

"As a company with a strong track record in global real estate and hospitality investments, this transaction represents an exciting new chapter for us," he said.

"With decades of experience in markets around the world, including Europe, the Middle East, and Asia Pacific, we are now expanding into the United States, which remains a key market for future growth and innovation.”

The hotels will be operated in the immediate term by a specialist Los Angeles operator Palisociety under current branding arrangements, under the supervision of Corinthia’s development arm Corinthia Real Estate Ventures (C-REV) and its Managing Partners Marcus Pisani and Alex Chazkel.

C-REV will also handle asset management and explore opportunities for future value creation.