AccorHotels completes its acquisition of a 50% stake in sbe Entertainment Group Founder & CEO Sam Nazarian will control the remaining 50%
AccorHotels and sbe Entertainment Group (“sbe”) announced today the completion of AccorHotels’ acquisition of a 50% stake in sbe. |
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AccorHotels completes its acquisition of a 50% stake in sbe Entertainment Group Founder & CEO Sam Nazarian will control the remaining 50%
AccorHotels and sbe Entertainment Group (“sbe”) announced today the completion of AccorHotels’ acquisition of a 50% stake in sbe. |
Category: Worldwide - Industry economy
- Group or hotel buyout
This is a press release selected by our editorial committee and published online for free on 2018-10-10
Through this partnership, AccorHotels’ will pursue its strategy to expand its offering in the luxury lifestyle hospitality segment and its footprint in gateway cities across North America.
This long-term investment will allow sbe to leverage AccorHotels’ leading global hospitality platform while remaining an independent luxury lifestyle operator. sbe will continue to be led by its Founder and CEO Sam Nazarian as well as its expert management team while retaining its global headquarters in New York.
Sébastien Bazin, Chairman & CEO, AccorHotels: Sébastien Bazin, Chairman & CEO, AccorHotels: “I am very proud of this unique partnership. It combines the best of both groups by offering all our guests lifestyle concepts in the luxury segment. With sbe’s brand portfolio, AccorHotels is also taking a significant step forward in its group’s expansion in key gateway cities in the US. Sam Nazarian is an innovator with an inborn sense of creating unique experiences and groundbreaking hotels and F&B concepts. We are delighted to join forces and mutualize our skills for the benefits of our guests”.
Sam Nazarian, Founder and CEO of sbe: “This partnership with AccorHotels marks the beginning of a new chapter in sbe’s history and I’m thrilled that this strategic partnership has now been completed. sbe has grown rapidly since the acquisition of Morgans Hotel Group in 2016. The sbe portfolio will grow to over 50 hotels by 2020, paired with tremendous expansion in the residential, culinary and entertainment segment of the 360 lifestyle experience, including over 50 global venues in the pipeline. The partnership with AccorHotels is only going to accelerate this growth both in the US and in international markets. Sébastien Bazin has built an incredibly successful global platform in an ecosystem and digital market. Everyone at sbe is hugely excited to combine the unique offerings of both groups to provide our guests with unparalleled lifestyle experiences.”
sbe hotels, culinary and entertainment venues will be distributed on the AccorHotels platform, be featured on Accorhotels.com and will be part of the AccorHotels loyalty program. With its global hotel development platform and its presence in 100 countries, AccorHotels will play a key role in developing sbe’s iconic luxury lifestyle hotel, restaurant and entertainment brands globally including SLS, Delano, Mondrian, Hyde and The Originals (Sanderson, St. Martin Lane, 10 Karakoy, Shore Club and Redbury).
Renowned for its unique 360-degree approach to lifestyle hospitality sbe develops, manages and operates award-winning global properties and brands that includes luxury residences, serviced apartments, wellness and spa platforms and dining & entertainment experiences.
Through this investment, sbe will accelerate its international growth with expansion into new markets outside of the US, including priority growth markets in the Middle East and Latin America. sbe’s pipeline includes projects in some of the most important global gateway cities such as Atlanta, Chicago, Washington D.C., Dubai, Rio de Janeiro, Mexico City, Cancun, Tokyo and Los Cabos.
sbe’s leading hospitality and residential brands include SLS, Delano, Mondrian, Hyde, The Originals (Sanderson, St. Martin Lane, Hudson, 10 Karakoy, Shore Club and Redbury Hotels). Through its Disruptive Restaurant Group platform, sbe has created global award-winning culinary brands Katsuya, Umami Burger, Cleo, Leynia, Diez & Siez and Fili’a and innovative entertainment brands including Hyde nightclub and dayclub, Nightingale, Privilege dayclub Black Orchid, S Bar, Skybar and the Doheny Room. Landmark destinations in its portfolio include, Delano South Beach in Miami, SLS Baha Mar in the Bahamas, Mondrian Doha in Qatar, Hyde Bellagio in Las Vegas, Mondrian Park Avenue in New York City and the newly-opened 57 story SLS LUX Brickell and Hyde midtown both in Miami. Upcoming openings include Delano Dubai at the Palm and Hyde Beach House in Hollywood Florida.
By the end of 2018 sbe will operate 25 hotels, comprising 7,498 keys with a majority in North America, 170 award winning restaurants and entertainment venues in global destinations as well as new properties in the Middle East, Asia and Latin America. It currently has a further 20 hotels and residences around the world in its pipeline, as well as 59 standalone restaurants and nightlife venues. In addition, sbe has sold 1,300 branded residential units valued at $2 billion with over 2,500 units valued at $2.5 billion in its pipeline.
Dakota Development is a division of sbe that is responsible for the design and development of sbe properties around the world. Dakota Development will remain at the forefront of the design and development process as our pipeline continues to grow with the support of AccorHotels.ABOUT ACCORHOTELSAccorHotels is a world-leading travel & lifestyle group and digital innovator offering unique experiences in more than 4,500 hotels, resorts and residences across 100 different countries.
With an unrivaled portfolio of internationally renowned hotel brands encompassing the entire range from luxury to economy, from upscale to lifestyle and midscale brands, AccorHotels has been providing savoir-faire and expertise for more than 50 years.
In addition to its core hospitality business, AccorHotels has successfully expanded its range of services, becoming the world leader in luxury private residence rental with more than 10,000 stunning properties around the world. The Group is also active in the fields of concierge services, co-working, dining, events management and digital solutions.
Relying on its global team of more than 250,000 dedicated staff, AccorHotels is committed to fulfilling its primary mission: to make every guest Feel Welcome. Guests have access to one of the world’s most attractive hotel loyalty programs - Le Club AccorHotels.
AccorHotels plays an active role in its local communities and is committed to promoting sustainable development and solidarity through PLANET 21 Acting Here, a comprehensive program that brings together employees, guests and partners to drive sustainable growth.
From 2008, the AccorHotels Solidarity Endowment Fund has acted as a natural extension of the Group’s activities and values, helping to combat the social and financial exclusion experienced by the most disadvantaged members of society.
Accor SA is publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACRFY) in the United States.ABOUT sbeEstablished in 2002 by Founder and CEO Sam Nazarian, sbe is a privately-held, leading lifestyle hospitality company that develops, manages and operates award-winning hotels, residences, restaurants and nightclubs. Through exclusive partnerships with cultural visionaries, sbe is devoted to creating extraordinary experiences throughout its proprietary brands with a commitment to authenticity, sophistication, mastery and innovation. Following the acquisition of Morgans Hotel Group, the pioneer of boutique lifestyle hotels, sbe has an unparalleled global portfolio which will see 25 hotels and over 170 global world-renowned culinary, nightlife and entertainment venues by the end of 2018. The company is uniquely positioned to offer a complete lifestyle experience - from nightlife, food & beverage and entertainment to hotels and residences, and through its innovative customer loyalty and rewards program, The Code, as well as its award-winning international real estate development subsidiary, Dakota Development - all of which solidify sbe as the preeminent leader across hospitality. The company’s established and upcoming hotel brands include SLS Hotel & Residences, Delano, Mondrian, The Redbury, Hyde Hotel & Residences, and The Originals. In addition, sbe has the following internationally acclaimed restaurants and lounges under subsidiary Disruptive Restaurant Group: Katsuya by Chef Katsuya Uechi, Umami Burger, Cleo by Chef Danny Elmaleh, Fi’lia by Michael Schwartz, Leynia and Diez & Seiz by Chef José Icardi, Hyde Lounge, S Bar, Doheny Room Skybar, Bond, and Privilege.
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