News

AccorHotels to Acquire 50 Percent Stake in Sbe

By: Caribbean Journal Staff - July 2, 2018 - 3:24 pm

By the Caribbean Journal staff

Global hotel giant AccorHotels is acquiring a 50 percent stake in sbe, the company behind hotel brands like SLS.

The two sides have signed a letter of intent and entered into exclusive negotiations for AccorHotels to acquire a 50 percent stake in sbe, part of the company’s wider expansion plans.

Sbe, whose global hotel portfolio most notably includes the SLS and Mondrian brands, will continue to be led by founder and CEO Sam Nazarian, based in New York.

“This partnership with AccorHotels marks a new milestone in sbe’s history,” Nazarian said. “The 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.”

Sbe most recently debuted its new SLS Baha Mar in Nassau, part of a continuously expanding regional portfolio.

It is also planning a new SLS-branded property in Cancun, while a new Mondrian is coming to Playa del Carmen.

“I am delighted to announce this strategic partnership with one of the most innovative Groups in the luxury lifestyle space worldwide,” said Sébastien Bazin, Chairman & CEO, AccorHotels . “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.”

— CJ

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