David Geffen, has just finished a multi-million dollar overhaul at the beloved 47-room Malibu Beach Inn, situated on the exclusive “Billionaire’s Beach”. Geffen who paid $29 million in 2005 for the property, is due to re-open the property as the only Luxury oceanfront hotel in the area this June.

Rooms rates start at $390 and their website is now accepting reservations for June 29, 2007 and beyond. Amenities at the Inn will include Molton Brown products, Private Bar with 8 bull bottles of wine, WiFi, Plasma screens and MP-3 players in each room. A 44-seat restaurant called Carbon Beach Club serving California coastal cuisine with a Pacific Rim emphasis will endure the magnificent view of Malibu’s pier and coastline.