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InterContinental Hotels Group has acquired Six Senses Hotels Resorts Spas from Pegasus Capital Advisors for $300 million, giving IHG another luxury brand.
The company has increased its luxury market presence in recent years, acquiring Kimpton Hotels & Restaurants in 2015 and Regent Hotels & Resorts last year. With the addition of wellness-focused Six Senses, IHG will have four luxury brands, led by the eponymous InterContinental Hotels & Resorts.
The Six Senses deal includes hotel and spa operations and their associated brands. The company manages 16 hotels and resorts under the luxury Six Senses and the upscale Evason brands. Most of those properties are in the Asia-Pacific region. It also runs 37 spas under the Six Senses and LivNordic brand names, and provides spa consultancy services. IHG said Six Senses’ management would be retained.
IHG’s acquisition includes no real estate assets.
IHG’s goal is to grow the Six Senses brand to some 60 hotels over the next 10 years. The brand’s first U.S. hotel is being built in New York, adjacent to the High Line on the west side of Manhattan. Its first Caribbean resort will be constructed on the site of a former sugarcane plantation on St. Kitts.
Six Senses has a total of 18 hotel management contracts in its pipeline, IHG said.
“Six Senses’ attractive development pipeline provides us with a platform for high-quality growth,” IHG CEO Keith Barr said in a statement.
Source: travelweekly.com
