Sbe, a privately-held, lifestyle hospitality company that develops, manages, and operates award-winning hotels, residences, restaurants, and nightclubs, has completed its acquisition of Morgans Hotel Group, a global innovator of the lifestyle hospitality sector. This transaction, valued at $805 million, more than doubles the number of hotels in Sbe's portfolio, which includes more than 100 properties currently operating or in development worldwide. "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 Sam Nazarianm, founder and CEO of Sbe. "Guests can stay, play, eat, and indulge, all within our portfolio of assets."
This acquisition includes Morgans Hotel Group’s iconic Delano and Mondrian brands along with 13 domestic and international hotel management and franchise/licensing agreements, and Sbe will also take direct ownership of the 194-room Delano Hotel in South Beach, the 878-room Hudson Hotel in New York City, and the 372-room Clift Hotel in San Francisco. "The acquisition of Morgans not only further expands our offering, but brings the invaluable partnerships of Ron Burkleand Cain Hoy Enterprises,” says Nazarian. “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."