The Beverly Hills Hotel was established in May 1912, before the city's existence. The original owners were Margaret J. Anderson, a wealthy widow, and her son, Stanley S. Anderson, who had been managing the Hollywood Hotel. The original hotel was designed by Pasadena architect Elmer Grey, in the Mediterranean Revival style. From 1928 to 1932, the hotel was owned by the Interstate Company. In 1941, Hernando Courtright, the vice president of the Bank of America, purchased the hotel with friends including Irene Dunne, Loretta Young, and Harry Warner. Courtright established the Polo Lounge, which was for many years the premier dining spot in Los Angeles, hosting entertainers ranging from the Rat Pack to Humphrey Bogart and Marlene Dietrich. Courtright paid for a significant renovation in the late forties, during which the hotel was first painted its famous pink color in 1948, to match that period's country club style. The following year, architect Paul Williams added the Crescent Wing.