ACCORHOTELS has completed its acquisition of a 50% stake in the sbe Entertainment Group, operator of high-end hotel brands including the SLS, Delano and Modrian brands (TD 02 Jul).
sbe founder and CEO Sam Nazarian will retain 50% of the group under the deal, while AccorHotels will gain design-oriented properties in fashion capitals in the US and Europe.
“Sam Nazarian is an innovator with an inborn sense of creating unique experiences and groundbreaking hotels and F&B concepts,” said AccorHotels Chairman & CEO Sebastien Bazin.
“We are delighted to join forces and mutualise our skills for the benefits of our guests.”
sbe has 25 hotels in operation or planned, including the Mondrian Los Angeles, Hudson New York, St Martins Lane London and Delano South Beach in Miami, as well as the Hyde and The Originals brands.
Source: traveldaily