Accor Buys sbe

Accor has signed binding agreements to take full ownership of sbe’s Hotel asset light business including the Delano, Mondrian, SLS, and Hyde hotel brands along with most of sbe’s Food & Beverage brands including Cleo, Fili’a or Carna by Dario Cecchini.

Sbe currently operates 22 hotels, with more than 40 properties in the pipeline, which has more than doubled since Accor’s initial investment in sbe in 2018, with key upcoming openings such as Mondrian London and SLS Dubai in 2021.

The brands will be at the heart of Accor’s newly created global Lifestyle platform.

Eldridge, a holding company with a network of businesses across finance, technology, real estate, and entertainment, is acquiring sbe’s two remaining assets: the Hudson Hotel in New York and Delano in Miami.

In parallel, Sam Nazarian takes full ownership of sbe’s Disruptive Restaurant Group Platform (DRG) and its 15 owned restaurant and nightlife venues along with an increased majority ownership of C3, a leading player in digital kitchens and lifestyle food halls business.

This cash and asset swap transaction entails a $300 million cash investment from Accor almost entirely through the redemption of sbe’s debt.

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