AccorHotels has completed its acquisition of a 50 percent stake in sbe Entertainment. sbe hotels, food offerings, and entertainment venues will all be distributed through AccorHotels’ platform, and with backing from AccorHotels, the company plans to accelerate its international growth.
“I am very proud of this unique partnership. It combines the best of both groups by offering all our guest lifestyle concepts in the luxury segment. 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,” said Sebastien Bazin, chairman and CEO, AccorHotels.
The investment is valued at USD$319 million, and sbe CEO Nazarian will own the other 50 percent stake.
“This partnership with AccorHotels marks the beginning of a new chapter in sbe’s history that this strategic partnership has now been completed. sbe has grown rapidly since the acquisition of Morgans Hotel Group in 2016. The sbe portfolio will to over 50 hotels by 2020, paired with tremendous expansion in the residential culinary and entertainment segment of the 360 lifestyle experience,” said Sam Nazarian, founder and CEO, sbe.