NEW YORK CITY—sbe founder and CEO Sam Nazarian—with partners Ron Burkle, founder of the Yucaipa Cos. and Cain Hoy Enterprises—have closed on their acquisition of Morgans Hotel Group, a move that further expands the former firm's international footprint. The transaction, which has a value of $805 million, more than doubles the number of hotels in sbe's portfolio that includes more than 100 properties currently operating or in development.
“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 Nazarian. “Guests can stay, play, eat and indulge, all within our portfolio of assets.”
The acquisition brings Morgans' Delano and Mondrian brands—along with 13 domestic and international hotel management and franchise/licensing agreements—together with sbe's existing collection of notable hotel brands, which include such imprints as SLS hotels, The Redbury hotels, and Hyde hotels, as well as sbe's restaurant brands: The Bazaar by José Andrés, Fi'lia by Michael Schwartz, Katsuya, Cleo, Umami Burger and Hyde Lounge.
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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.
