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US – AccorHotels to acquire 50 per cent of sbe

By - 3 July 2018

Europe’s largest hotels group, AccorHotels, is to acquire a 50 per cent stake in Sam Nazarian’s sbe Entertainment Group in a deal that will see Accor invest a total of US$319m in the fashion-conscious business. The French group also recently acquired Chile’s Atton Hoteles and is seeking a minority stake in Air France KLM.

AccorHotels said the sbe stake would raise its profile in cities such as Los Angeles, Miami, Las Vegas and New York, and give it access to sbe’s fashionable millennial clientele.

Mr. Nazarian will continue to run SBE and own the remaining 50 per cent in the group. sbe’s brands include well-known brands such as the Delano, Mondrian and the Hyde Bellagio in Las Vegas. Mr. Nazarian gave up control of his Las Vegas Hotel, SLS Las Vegas, in 2014 and SBE Entertainment relinquished its management role in the property in 2015.

Sam Nazarian, Founder and CEO of sbe: “This partnership with AccorHotels marks a new milestone in sbe’s history. This long-term investment by AccorHotels provides sbe, its customers and hotel owners with greater depth and breadth around the world and supports our collective ambition to be the best lifestyle hospitality company in the market. Building on our acquisition of Morgans Hotel Group in 2016, this investment will further accelerate our growth both domestically in the United States and in new markets internationally, particularly in Europe.  Myself and the over 7,000 associates at sbe are thrilled and honoured to partner with AccorHotels and be part of the amazing, innovative and pioneering culture that my dear friend, Chairman and CEO Sébastien Bazin and his team have implemented. Moving forward, sbe and AccorHotels together are committed to bringing our unique lifestyle experiential offering to more destinations and serving our discerning guests with unforgettable memories.”

Sébastien Bazin, Chairman & CEO, AccorHotels: “I am delighted to announce this strategic partnership with one of the most innovative Groups in the luxury lifestyle space worldwide. It marks a new step in expanding AccorHotels’ footprint in this fast growing segment in key US cities such as Miami, Los Angeles or Las Vegas, and in other international  destinations. “The new luxury” is all about exclusive experiences and incredible lifestyle concepts and sbe brands have the perfect know-how that will complete perfectly the AccorHotels portfolio. We remain committed to providing all our guests with unparalleled service and always renewed experiences around the world”.

The acquisition of sbe is seen as future-proofing AccorHotels’ existing premium brand, Fairmont, with SBE brands being more millennial and leisure/resort focused.

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