IT’S OFFICIAL. sbe Founder and CEO, Sam Nazarian today announced with partners Ron Burkle and Cain Hoy Enterprises the definitive closing of sbe’s acquisition of Morgans Hotel Group, a move that further expands its international footprint and solidifies its unique position as the preeminent global leader of lifestyle hospitality management, entertainment, food & beverage and development. The transaction more than doubles the number of hotels in sbe’s portfolio that includes more than 100 properties currently operating or in development.
“sbe is the only global hospitality company that offers a complete 360-degree lifestyle experience, from hotels and residences to restaurants, entertainment and nightlife,” says Nazarian. “Guests can stay, play, eat and indulge, all within our portfolio of assets.”
Nazarian adds, “The acquisition of Morgans not only further expands our offering – but brings the invaluable partnerships of Ron Burkle and Cain Hoy Enterprises. sbe will now have a presence from San Francisco to Doha; Los Angeles to London – and brings its impressive history, talented team and culture of service and innovation to the sbe family. We couldn’t be more pleased about the transaction.”
sbe’s growth will accelerate in coming months, further growing its footprint with the recent openings of The Redbury in New York and SLS Brickell in Miami, and four additional hotels expected to open in 2017, Mondrian Doha, Qatar; as well as SLS Park Avenue New York, SLS Seattle and Hyde Hotel and Residences, South Florida. An additional nine hotels will be opening within the next two years, bringing sbe’s portfolio to 35 hotel properties by year-end, 2018.
sbe now features a portfolio of 22 world-class international lifestyle hotels in global markets such as Los Angeles, New York, Las Vegas, Miami, San Francisco, Istanbul and London, in addition to residential properties within North America. sbe currently offers 129 hotel, entertainment, nightlife and restaurant venues globally.