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.
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: "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 The 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, Asiaand 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 billionwith 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.
Established 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, Leynia and Diez & Seis by Chef José Icardi, Hyde Lounge, S Bar, Doheny Room Skybar, Bond, and Privilege. To learn more, visit sbe.com
Accor is a world-leading augmented hospitality group offering unique and meaningful experiences in 4,800 hotels, resorts, and residences across 100 countries. With an unrivalled portfolio of brands from luxury to economy, Accor has been providing hospitality savoir-faire for more than 50 years. Beyond accommodations, Accor enables new ways to live, work, and play with food & beverage, nightlife, wellbeing, and coworking brands. To drive business performance, Accor's portfolio of business accelerators amplify hospitality distribution, operations, and experience. Guests have access to one of the world's most attractive hotel loyalty programs. Accor is deeply committed to sustainable value creation, and plays an active role in giving back to planet and community. Planet 21 - Acting Here endeavors to act for positive hospitality, while Accor Solidarity, the endowment fund, empowers disadvantaged groups through professional training and access to employment. 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. For more information visit accor.com. Or become a fan and follow us on Twitter and Facebook.