sbe, the global hospitality and entertainment company, announced today that it has completed a $109 million financing with Fortress Investment Group for SLS New York, the 190-room luxury lifestyle hotel at 444 Park Avenue South.

SLS New York, slated to open in summer 2016, also confirmed that James Beard Award-winning chef José Andrés will open his renowned concept, The Bazaar by José Andrés, his first New York City restaurant, in the hotel.

"We've always had exciting plans for this one of a kind property and we're delighted to have Fortress, José Andrés and Philippe Starck aboard as partners,'' said Sam Nazarian, Chairman and CEO of sbe. "With solid foundational partners like these, we fully expect to deliver an unparalleled experience for our guests when we open next summer.''

SLS New York will have 190 guest rooms and suites, with the return of sbe's iconic lounge concept, SBar, in the basement and an additional rooftop lounge and event space. The team behind the project includes equity partner Manhattan-based Moin Development, visionary designer and longtime sbe collaborator Philippe Starck and sbe's development arm, Dakota Development.

Commented Andrés, "I'm incredibly excited to bring our Bazaar concept to New York, where I started the U.S. chapter of my career 24 years ago and a city I've long wanted to return to. The power and energy of New York are unlike anywhere else."

SLS New York is one of 11 sbe projects in various stages of development, construction and negotiation. Those projects, which range from Seattle to Florida, include nearly 1,900 hotel rooms and 2,230 residences.

About sbe

Established in 2002 by Founder and CEO Sam Nazarian, sbe is a privately held, leading lifestyle hospitality company that develops, manages and operates world-class hotels, restaurants, lounges 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. Over the last decade, sbe has mastered the art of creating desirable destinations; the lifestyle platform includes over 100 hotels and 150 restaurants and lounges. In 2020, Sam Nazarian shifted his focus to the culinary and nightlife world by launching Disruptive Restaurant Group (DRG.) DRG incubates and operates globally renowned culinary brands, including critically acclaimed restaurants, lounges and nightclubs. By partnering with an impressive roster of internationally renowned culinary talent, DRG concepts are committed to innovation and setting new industry standards. Restaurants and lounges include Casa Dani, by three Michelin-starred Chef Dani Garcia; Citizens; Katsuya, by Chef Katsuya Uechi; Kumi; MXO by Wes Avila; Doheny Room; HYDE; LiFE; and S Bar. Sam Nazarian has consistently demonstrated his ability to anticipate and shape the future of hospitality and gastronomy. With his unwavering passion, entrepreneurial prowess, and a portfolio of iconic brands, Sam has cemented his position as a trailblazer in both the hospitality and culinary world for generations to come. To learn more, visit sbe.com.