NEW YORK CITY-André Balazs Properties, a hotel company, announced Friday it has named Savills Hospitality Group to represent the firm in identifying a partner to support its growth both domestically and overseas.
André Balazs Properties develops and manages luxury hotels such as the Mercer Hotel in Soho, Sunset Beach in Shelter Island, NY and Chateau Marmont in Los Angeles. The company also looks after the trendy boutique brand, the Standard, which has five properties in cities including New York, Miami and Los Angeles.
Balazs has partnered with Savills under an exclusive assignment as part of an aggressive global expansion strategy, according to the announcement. The Savills Hospitality team is mounting a global initiative to attract equity investment that will help grow the company's brands internationally, and also help acquire sites and forge new partnerships in major international markets, adding a new generation to the company's well-known portfolio of properties.
The campaign is targeting the spectrum of investor prospects, including sovereign wealth funds, private equity firms, high-net-worth individuals, family offices and other investment entities in order to see that André Balazs Properties accrues a strong global presence in international gateway cities, the announcement states.
The Savills Hospitality team is mobilizing its international network to support the program, with a particular emphasis on Savills investment team leaders in the United States, the UK and Singapore.
“Our boutique, high-end, international client-based advisory firm is strategically focused on mandates such as this.” says Justin Magazine, a VP with Savills, in the release.
“The André Balazs Properties brand is so well recognized internationally, we expect to generate keen interest from all types of international investors,” says Rob Seabrook, head of hotel transactions for Savills' London, in the announcement.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
