The strict resident owner of the Beverly Hills Hotel from 1954 until his death in 1979 was former Detroit real estate magnate Ben L. Silberstein. In 1986, Marvin Davis bought the hotel from Silberstein's sons-in-law Burt Slatkin and Ivan F. Boesky. On December 30, 1992, the hotel closed for a complete restoration, reopening in 1995. Since 1996, it has been run as part of the Dorchester Collection belonging to the Sultan of Brunei. In 2012, the hotel was named the first historic landmark in Beverly Hills, and two new Presidential Bungalows were added.