Six Senses takes on strategic investor in order to capitalise on growth potential (Mauritius)
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Six Senses takes on strategic investor in order to capitalise on growth potential (Mauritius)
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Category: Africa Indian Ocean - Mauritius - Industry economy
- New brands / Affiliations
This is a press release selected by our editorial committee and published online for free on 2010-01-08
Six Senses Resorts & Spas has entered into a strategic alliance with Miami based Saudi entrepreneur, Mr. Laith Pharaon, who will become a stakeholder in the management arm of Six Senses group - Six Senses Mauritius.
Six Senses currently operate thirteen high-end resorts branded as Soneva, Six Senses and Evason in the Maldives, Thailand, Vietnam, Oman and Jordan, with new developments underway in several additional locations. The Six Senses Spa division is represented by twenty-seven company-operated spas, with new developments underway in several locations. The group recently launched the Six Senses Destination Spa brand.
Following the opening of its first property in 1995, Six Senses has been recognized as the global benchmark for eco-responsibility in the hospitality sector. Its philosophy is developed around the core purpose of creating innovative and enlightening experiences that rejuvenate their guests’ love of SLOW LIFE*
Laith Pharaon serves as principal investor for his Group who are involved in a wide range of industries primarily focused on hospitality and real estate developments worldwide.
The agreement between Six Senses and Laith Pharaon provides for the investor to acquire a 10% stake of Six Senses Mauritius – through a convertible instrument, with an option for an additional 15% stake based on the achievement of certain milestones.
“I am personally excited to have an investor and partner such as Laith Pharaon and his father Dr. Ghaith Pharaon”, said Founder, Chairman and CEO of Six Senses, Sonu Shivdasani. “They have an impeccable background in the high-end hospitality business having been significant shareholders of Hyatt and owners of several Four Season Hotels properties, and other luxury-branded properties in the past. Their track record of great successes will contribute significantly to the future development of Six Senses, adding strength and vibrancy to the group”.
Six Senses Board Member, Wolf Hengst – Former President of Four Seasons Hotels, reiterated the solid relationship and support that the Pharaons had extended to Four Seasons, and his delight in being able to work together again.
Commenting on the acquisition, Mr Laith Pharaon said, “I am very excited to be part of Six Senses. By bringing hotel development experience to the management side of Six Senses, I believe this is a win-win situation for both of us”.
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