The recent Oscars Luncheon Annual Party was a success with all the nominees in attendance for the annual event just before the major ceremony kicks off on Feb. 28. However, it cannot be avoided that the hashtag #OscarsSoWhite will be talked about. The controversy has been circulating ever since the Academy awards have released their list of nominees, who are all white actors and film executives, USA Today reports.

Indeed, the lack of diversity in the film industry have led to a lot of reporters asking questions to the 150 guests who graced the Beverly Hilton Hotel in Beverly Hills. Even the Academy of Motion Picture Arts and Sciences President Cheryl Boone Isaacs addressed the issue first hand during her speech at the annual Luncheon.

"This year, we all know, there is an elephant in the room -- I have asked the elephant to leave," Boone Isaacs said as quoted by the publication. However, she stressed that the event should be centered on the nominees. "Today is all about all of your incredible work," she said.

Meanwhile, the Telegraph reveals that famed "Rocky" star Sylvester Stallone, who has been nominated for supporting actor in his recent work in "Creed," has been very vocal about being hesitant to even attend the luncheon.

This is because Stallone is with "Creed" star Michael B. Jordan, who is a black actor, as well as the film's director Ryan Coogler, who is also black and has not been nominated for anything. "I said, 'if you want me to go, I'll go, if you don't, I won't,'" Stallone said as quoted by the publication. "He said, 'Just go there and try to represent the film.'"

Despite the negativity, Stallone believes that there will be a resolution in the future. "I do believe things will change and it's a matter of time and all talent will rise to the top but it's a matter of getting a new paradigm, a new way of thinking," he continued.

The news comes after the controversial list of nominees were released for the 88th annual Academy Awards containing only white individuals, USA Today reports. Even high-profile actors like Will Smith, wife Jada Pinkett Smith and Spike Lee have all announced their distaste of the lack of diversity and that they are boycotting the awards ceremony.

Despite the controversy, the 88th annual Academy Awards is, however, still happening and is scheduled on Feb. 28.