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The Standard hotel on the Sunset Strip in West Hollywood is scheduled to close Friday, 22 years after opening with the financial support of such celebrities as Leonardo DiCaprio, Cameron Diaz and Benicio del Toro.

The location was the first that hotelier Andre Balazs opened in the Standard chain of boutique hotels. The chain, which has grown to six locations in the Los Angeles area, New York, Miami and London, operates under parent company Standard International. Balazs stepped down as the company’s chairman in 2017.

A Standard International representative could not be reached for immediate comment Thursday, but the hotel posted a notice on Instagram saying it was “unable to prevent a significant increase to its lease, which makes operating the property impossible.⁣⁣”

Read the full story on LATimes.com.