Business & Finance

sbe in Advanced Discussions with Hakkasan Group for Potential Merger

NEW YORK, N.Y. March 23, 2017 - sbe, the leading lifestyle hospitality company that develops, manages and operates award-winning hospitality venues globally, today announced that it is in advanced discussions to merge Hakkasan Group into the sbe family.

sbe Founder and CEO, Sam Nazarian stated, "sbe is in advanced discussions with Hakkasan Group regarding a potential merger. As currently contemplated, sbe would welcome Hakkasan's global portfolio of prestigious restaurants and best in class nightlife assets into sbe's international platform of lifestyle hospitality and entertainment assets to create the most dynamic hospitality, residential, restaurant and entertainment company in the industry. The merger is expected to close within 60 days."

About sbe

Established in 2002 by Founder and CEO Sam Nazarian, sbe is a privately-held, leading lifestyle hospitality company that develops, manages and operates award-winning hotels, residences, restaurants and nightclubs. Through exclusive partnerships with cultural visionaries, sbe is devoted to creating extraordinary experiences throughout its proprietary brands with a commitment to authenticity, sophistication, mastery and innovation. Following the acquisition of Morgans Hotel Group, the pioneer of boutique lifestyle hotels, sbe has an unparalleled global portfolio featuring 23 world-class lifestyle hotel properties in 9 attractive gateway markets and more than 136 global world-renowned hotel, entertainment and food & beverage outlets. The company is uniquely positioned to offer a complete lifestyle experience - from nightlife, food & beverage and entertainment to hotels and residences, and through its innovative customer loyalty and rewards program, The Code, as well as its award-winning international real estate development subsidiary, Dakota Development - all of which solidify sbe as the preeminent leader across hospitality. sbe will continue its expansion with 13 hotel properties opening in the next two years (some with residences), including the SLS Park Avenue, SLS Seattle, Mondrian Doha and Mondrian Dubai. The company's established and upcoming hotel brands include SLS Hotel & Residences, Delano, Mondrian, Redbury, Hyde Hotel & Residences, Clift, Hudson, Morgans, Royalton, Sanderson and St Martins Lane. In addition, sbe has the following international acclaimed restaurants and lounges: Katsuya, Cleo, The Bazaar by José Andrés, Fi'lia by Michael Schwartz, Umami Burger, Hyde Lounge and Skybar. More information about sbe can be obtained at sbe.com or by downloading the sbe App.

Contact:
Kati Bergou
kbergou@rubensteinpr.com
212 805 3014

Coming Up In The September Online Hotel Business Review




{300x250.media}
Feature Focus
Hotel Group Meetings: Blue Skies Ahead
After a decade of sacrifice and struggle, it seems that hotels and meeting planners have every reason to be optimistic about the group meeting business going forward. By every industry benchmark and measure, 2017 is shaping up to be a record year, which means more meetings in more locations for more attendees. And though no one in the industry is complaining about this rosy outlook, the strong demand is increasing competition among meeting planners across the board – for the most desirable locations, for the best hotels, for the most creative experiences, for the most talented chefs, and for the best technology available. Because of this robust demand, hotels are in the driver’s seat and they are flexing their collective muscles. Even though over 100,000 new rooms were added last year, hotel rates are expected to rise by a minimum of 4.0%, and they are also charging fees on amenities that were often gratis in the past. In addition, hotels are offering shorter lead times on booking commitments, forcing planners to sign contracts earlier than in past years. Planners are having to work more quickly and to commit farther in advance to secure key properties. Planners are also having to meet increased attendee expectations. They no longer are content with a trade show and a few dinners; they want an experience. Planners need to find ways to create a meaningful experience to ensure that attendees walk away with an impactful memory. This kind of experiential learning can generate a deeper emotional connection, which can ultimately result in increased brand recognition, client retention, and incremental sales. The September Hotel Business Review will examine issues relevant to group business and will report on what some hotels are doing to promote this sector of their operations.