The American Film Market Assn. has extended its contract with the Loews Santa Monica Beach Hotel to host its annual film market until 2000.
The original agreement was to have expired next year.
While AFMA execs were said to be discussing other options, the Loews proximity to the beach and shopping and dining areas in Santa Monica convinced them to renew the hotel contract.
The new deal will allow the AFM use of the entire hotel including the second floor, which in the past, has been reserved for non-AFM hotel guests. Freeing up the second floor will add an additional 16 rooms to the market’s normally cramped space.
Moreover, if developers resume construction of the long-delayed 175-room hotel project on the adjacent property to the Loews site, the AFM would have even more room for expansion. This could ensure that the AFM remains in Santa Monica well beyond 2000.
The market, which moved from Beverly Hills to Santa Monica in 1991, pumps an estimated $7 million into Santa Monica’s economy each year.
The AFM runs Feb. 27 through March 7.