"As the movie business grew in the 1920s, shrewd businessman (1880-1981), known later as "the father of Hollywood," developed signature properties, often with leading film stars as investors, to attract tourists and others to the area. In 1927 he opened the 12-story steel and concrete Hollywood Hotel to meet the need for both accommodations and glamour. Named after President Theodore Roosevelt to give it instant status, the hotel hosted the first Academy Awards in the Blossom Room on May 16, 1929. The complex contains over 300,000 , including the original tower with its famous penthouse suite and a two-story poolside 1950s cabana-style buildings nestled among tall palm trees. (1881-1973), who also worked in and , is given credit for the hotel's design."