The Standard hotel in West Hollywood, California.Photo: Axelle/Bauer-Griffin/GC Images

A view of The Standard, Hollywood Hotel in West Hollywood

“Despite 22 years of unconditional love for our hotel, our guests, our team and our community, the hotel was unable to prevent a significant increase to its lease, which makes operating the property impossible,” acaption on the Instagram postreads.

Stars likeCameron Diaz,Benicio del ToroandLeonardo DiCapriohelped fund the location to open, theTimesreports, and has been a popular spot over the years for celebrities likeUma Thurman,Jennifer LopezandMatt Dillon.

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The post continues on to say “Hollywood was the birthplace of The Standard’s culture,” in that the property “came to life through its timeless design, live music performances at Desert Nights, blue Astroturf pool scene, living art in ‘The Box,’ and the many late, hazy nights at our nightclub incarnations: Purple Lounge, Mmhmmm and Giorgio’s.”

The hotel chain has locations in Downtown Los Angeles, Miami Beach, London, New York City and eventhe Maldives.

The Standard hotel in West Hollywood, California.AaronP/Bauer-Griffin/GC Images

A view of The Standard, Hollywood Hotel in West Hollywood

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“We’ll compile everything into a digital scrapbook to enjoy whenever you could use a little California sunshine,” they concluded. “Thank you for everything. We are eternally grateful.”

source: people.com