The hotel AKA Beverly Hills, which will re-open this October after $10 million in renovations, will require guests to pay at least a $12,000 minimum tab just to stay there, according to the Los Angeles Times.
The hotel, which sits on North Crescent Drive, will cater to patrons who are planning extended stays in the area.
Prices for rooms will start at $400 a night, and require at least a one-month stay. During the renovations, a lounge, café, fitness center and outdoor space for guests will be added.
Originally, the developer intended the property to be an 88-unit apartment complex, but the housing crash crushed that plan.
AKA plans to appeal to international travelers who are in the area for business or pleasure, and upscale consumers.