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AccorHotels has completed the acquisition of 50 per cent of sbe Entertainment Group.
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 Sam Nazarian as well as its expert management team while retaining its global headquarters in New York.
Sébastien Bazin, chairman, AccorHotels, said: “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 ground-breaking hotels and food and beverage concepts.
“We are delighted to join forces and mutualize our skills for the benefits of our guests.”
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.
Nazarian said: “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.”
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.
Source: breakingtravelnews.com
