Accor takes full ownership of SBE hotel brands
Accor is taking full ownership of hotel group sbe Entertainment, after closing a deal to buy the remaining 50% stake from founder Sam Nazarian.
sbe includes the Mondrian, SLS, Hyde and Delano hotel brands.
Accor had planned to purchase the stake in 2022 but has fast-tracked its plans, due a quicker than expected expansion in the past two years.
"The business has grown at a pace much faster than anticipated. We basically doubled the pipeline," Nazarian said.
The deal puts sbe’s value at $650 million, and includes the Cleo, Fili’a and Carna by Dario Ceccini F&B brands.
Accor made an initial investment for a 50% stake in 2018.
sbe currently operates 22 hotels with more than 40 properties in the pipeline.
The sbe portfolio will form part of a new lifestyle hotel business just announced between Accor and London-based hospitality firm Ennismore, which owns the Hoxton Hotels brand.
It will include the sbe brands as well as SO/, Hyde, Mama Shelter, 25h, 21c Museum Hotels, Tribe and Jo&Joe brands.
Written by Ray Montgomery, US Editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Digital Travel Reporter of the Mirror totally seduced by HotelPlanner AI Travel Agent
Strike action set to cause travel chaos at Brussels airports