07/02/2012 05:10 pm ET Updated Jul 02, 2012

AKA Beverly Hills Hotel Will Cost $12,000 To Get A Room (PHOTOS)

One percenters of the U.S., fear not. There will soon be a luxury extended-stay hotel in Los Angeles that you can call your home away from home. And it only costs a minimum of $12,000 to get a room.

AKA, which calls its hotels "serviced residences," expects to open its first West Coast location in Beverly Hills on Oct.1, the company's vice president of marketing, Elana Friedman, told The Huffington Post. Guests will be required to stay for a minimum of 30 days, and rooms will start at $400 a night.

"AKA Beverly Hills will be a study in contemporary living," Larry Korman, co-CEO of the company with brother Brad Korman, said in a press release.

The luxurious residences cater to visitors who will be in Los Angeles for more than just a few days, but not long enough to justify leasing an apartment. For that reason, it's likely to become a go-to destination for affluent film industry folk.

The company will provide "space and anonymity" to celebrities and international business travelers with rooms that are "like very large apartments," Friedman said. With a café, fitness center, same-day valet dry-cleaning and laundry service, en-suite gourmet kitchens and private Juliet balconies, guests will never have to leave the hotel. If guests do want to venture outside the hotel, it is located a few blocks away from Rodeo Drive for "some of the most upscale shopping venues on the West Coast," according to the hotel.

Friedman also said the company expects its Beverly Hills guests to include real estate moguls in between transactions, people new to the area who haven't secured permanent residence, finance consultants, visiting physicians and people renovating their homes as well. "Our clientele, especially entertainment clientele in New York and Philadelpiha, have thanked us for this, saying that luxury long-term-stay residences are so needed in Los Angeles," she added.

The Korman brothers bought the property for $85 million in January, and it is currently undergoing $10 million worth of renovations. The AKA Beverly Hills, which will feature 88 one- and two-bedroom residences, will be the company's ninth location after it opens AKA West End in London this September. There are currently four AKA hotels in New York and one in Philadelphia, Washington D.C., and Arlington, Va.

Click through renderings of the AKA Beverly Hills, followed by photos of AKAs in other locations:
Photos courtesy of AKA: