Date: 5th April 2002
Movie star Will Smith has splashed out $7 million (£5 million) on the ultimate Hollywood status symbol - his own hotel. The Ali (2001) star has bought Los Angeles' 38-bedroom Beverly Crescent Hotel, and plans to spend another $7 million (£5 million) turning it into Hollywood's hottest property.
A pal says of the 76-year-old building, "Will is going to convert it into one of Los Angeles' trendiest hotels. With his name attached to it, the place is sure to become a favourite with the rich and famous. He and his wife Jada are very excited about their new project. Jada loves interior design and will have a big say in the hotel's new look when work begins this summer (2002)."
And fans of the Oscar-nominated star will be queuing up to stay at the luxury establishment after the actor told friends he plans to help the hotel's staff by entertaining guests. The pal adds, "Will joked that he will be a 'hands-on' boss and that he will entertain the guests by helping to serve breakfast."