Welcome to L.A.'s luxury hotel boom, featuring $20,000 suites and James Bond exotic cars

At the newest five-star hotel around Los Angeles, a massive bronze chandelier hangs from its nearly three-story Art Deco lobby, suffused with the scent of fresh-cut roses.

Upstairs, each room is fitted with floor-to-ceiling windows that open to balconies with views of Santa Monica Bay on one side...