AccorHotels completes 50% acquisition of SBE Entertainment Group

09 October 2018 by
AccorHotels completes 50% acquisition of SBE Entertainment Group

AccorHotels has completed its acquisition of a 50% stake in US-based hospitality company SBE Entertainment Group in a $319m (£244m) deal.

Founder and chief executive of the group Sam Nazarian will retain control of the remaining 50% of the business and continue to run the company comprising 20 hotels including three properties in London: the Sanderson, St Martin's Lane and Mondrian London.

The agreement includes the 13 properties within the Morgans Hotel Group snapped up by SBE in May 2016.

Sébastien Bazin, chairman and chief executive, AccorHotels, said: "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."

Nazarian added that the partnership with AccorHotels will help to facilitate the growth of SBE worldwide. "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."

By the end of 2018, SBE will operate 25 hotels, 170 restaurants and entertainment venues and have further openings planned for Atlanta, Chicago, Washington DC, Dubai, Rio de Janeiro, Mexico City, Cancun, Tokyo and Los Cabos.

The SBE deal marks AccorHotels' latest addition to its portfolio of more than 4,500 hotels worldwide having acquired a plethora of businesses over the past three years including FRHI Holdings, the parent company of Fairmont, Raffles and Swissôtel, and online platforms such as ResDiary and Gekko.

AccorHotels buys 50% stake in SBE Entertainment Group >>

New acquisitions help push AccorHotels' like-for-like sales up 9.5% >>

Morgan Hotel Group to be acquired by SBE >>

Get The Caterer every week on your smartphone, tablet, or even in good old-fashioned hard copy (or all three!).

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking