AccorHotels has completed its acquisition of a 50% stake in lifestyle hospitality group SBE. Announced in June, the deal enables SBE to tap into Accor’s loyalty program, which has some 45 million members.
SBE plans to merge with Accor’s loyalty platform by next year. Additionally, SBE hotels, restaurants and nightclubs will be distributed on the AccorHotels platform and featured on Accorhotels.com.
“One of our major longer-term initiatives is integrating SBE’s existing loyalty plan into a comprehensive offering that takes advantage of Accor’s Le Club program,” said Sam Nazarian, SBE founder and CEO. “We are sure this integration will be innovative, value-add and provide future and existing SBE customers with unparalleled perks, access and incredible experiences.”
The move also gives SBE access to Accor’s global network of developers. According to Nazarian, SBE plans to expand aggressively over the next two years, with the goal of reaching 50 hotels by 2020. The group will focus much of its growth efforts on markets outside the U.S., including the Middle East, Asia Pacific, Europe, China and Latin America, while continuing to bolster North American presence.
“The partnership with AccorHotels is only going to accelerate the growth of SBE in the U.S. and international markets,” said Nazarian. “This is further compounded by our tremendous expansion in the residential, culinary and entertainment segments, including over 100 global food and beverage and entertainment venues in the pipeline. AccorHotels will support SBE in its expansion across all verticals.”
SBE’s hotel portfolio includes the Delano, SLS, Mondrian and Redbury brands. By the end of 2018, SBE expects to operate a total of 25 hotels and more than 170 restaurants and nightclubs worldwide.