AccorHotels completes its acquisition of a 50% stake in sbe Entertainment Group

AccorHotels and sbe Entertainment Group (“sbe”) announced today the completion of AccorHotels’ acquisition of a 50% stake in sbe.

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 CEO Sam Nazarian as well as its expert management team while retaining its global headquarters in New York.

Sébastien Bazin, Chairman & CEO, AccorHotels: 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”.

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 Redbury).

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.

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. In addition, sbe has sold 1,300 branded residential units valued at $2 billion with over 2,500 units valued at $2.5 billion in its pipeline.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

XSD partners with NEFIN to power up its plant with solar energy in Malaysia

Integrated papermaking specialist, XSD International Paper Sdn Bhd (XSD) has entered into a power purchase agreement (PPA) with NEFIN Group (NEFIN). 

Sunway’s Food for Thought Campaign to aid urban poor in Klang Valley

Sunway has embarked on its Food for Thought campaign, targeting to distribute 4,050 packed meals to the urban poor in the Klang...

Bursa Malaysia records RM272.9 million profit after tax

Bursa Malaysia Berhad has recorded a Profit After Tax and Minority Interest (“PATAMI”) of RM272.9 million for the nine-month financial period ended...

Employment Hero launches in Malaysia to support SMEs during CMCO

Employment Hero, an Australian people management platform, announced its expansion into Malaysia to empower local SMEs during the government-mandated work-from-home directive during...

PropertyGuru: Youth, first-time home seekers priorities in Budget 2021

According to PropertyGuru Malaysia, the Budget 2021 should focus on job creation and economic drivers, particularly for youth and first-time home seekers,...

Must read

Agriculture at a crossroad – making that quantum leap

By Jason Loh, Agriculture in Malaysia is arguably at a pivotal crossroad and whether or not it’ll enjoy sustained...

Revitalise the property market for the benefit of all Malaysians

By Wong Siew Lai, General Manager – Malaysia and General Manager - Marketing & Communications, iProperty.com Malaysia Sdn Bhd

Underemployment anxiety needs to be given serious attention

By Sofea Azahar, It is very unfortunate to witness that the unprecedented twin crisis – health and economic –...

How 5G can help us build the urban future

Sunway Group is leading the way to create smart and sustainable cities with great potential As centres of...