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AccorHotels has announced it has completed the acquisition of a 50% stake in the SBE Entertainment Group.
Through this partnership, AccorHotels’ said it 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 also allow SBE to leverage AccorHotels’ 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 management team while retaining its global headquarters in New York.
Sébastien Bazin, chairman & CEO of 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 groundbreaking hotels and F&B concepts. We are delighted to join forces and mutualize our skills for the benefits of our guests.”
Nazarian added: “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’s hotels, culinary and entertainment venues will be distributed on the AccorHotels platform. 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.
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.
