LOS ANGELES--(BUSINESS WIRE)--sbe, a leading hospitality, real estate development and lifestyle company, today announced that an affiliate of Colony Capital, LLC, a private, international investment firm, has made a strategic investment in its enterprise. The partnership will focus on the national and international expansion of sbe’s award-winning hospitality platform.
Through its investment, Colony Capital will receive a minority ownership interest in sbe and Colony Capital’s Founder, Chairman and CEO, Thomas J. Barrack Jr., and Principal Richard Nanula will sit on sbe’s board of directors in key advisory positions. sbe Founder, Chairman and CEO, Sam Nazarian, will continue his role as Chairman of sbe’s board of directors, and David Nazarian, President of Nazarian Enterprises, has also been named to sbe’s board of directors.
In addition to growing the sbe platform from within, including its popular hotel brand SLS Hotels and restaurant brand Katsuya by Starck, Colony Capital and sbe will also look at expanding the hotel and restaurant management platform through the acquisition of existing assets and brands.
Together, Colony Capital and sbe will look to grow sbe’s collection of hotel, restaurant and nightlife brands into new markets, focusing first on the eastern United States and Europe.
“This is a game changing partnership for sbe and one that has us poised for powerful growth on a global scale,” said Sam Nazarian. “Colony Capital’s expertise in the real estate and hospitality space is second to none. I have the utmost respect for Tom and have long admired his perspective and unrivaled investment savvy. Having his support, and that of Colony Capital, positions us very well for a successful expansion into new markets.”
“Sam has harnessed his vision and uncanny instincts to create the most relevant emerging hospitality management company in the industry today,” added Thomas J. Barrack, Jr. “Having established a thriving platform of hotel and food and beverage assets, now is the optimal time to grow sbe’s reach and portfolio of brands.”
Leveraging their combined expertise, sbe and Colony Capital will continue the expansion of sbe’s hospitality platform, which includes the award-winning Katsuya by Starck, SLS Hotels, Redbury Hotels, The Bazaar by José Andrés, Cleo, The Abbey Food and Bar and Hyde Lounge brands. Additional brands and assets held within the sbe platform include Gladstones Malibu, XIV by Michael Mina, The Colony, Industry, MI-6, the Sahara Las Vegas, Four Points Sheraton LAX and Ciel Spa.
Recently, sbe announced the expansion of SLS Hotels to South Beach, Miami, which will feature The Bazaar by José Andrés, Katsuya by Stark, Hyde Lounge South Beach and Ciel Spa. The SLS Hotel at South Beach is scheduled to open spring 2012.
For more information on sbe please visit www.sbe.com.
ABOUT SBE
Founded in 2002, Los Angeles-based sbe brings exquisite balance to the worlds of hospitality, real estate development and events. As a privately held company founded and helmed by CEO Sam Nazarian, sbe acquires, develops and manages exceptional projects through its divisions – Hotels, Restaurants, Nightlife, Real Estate & Events. With a mission to redefine standards of excellence and innovation, sbe has harnessed the creativity and innovation of the best minds in the business, including design visionary Philippe Starck, with whom the company has an exclusive agreement for the creation of hotels, restaurants and lounges in the U.S., Canada, Caribbean and Mexico. sbe’s Restaurant and Nightlife division constantly stays ahead of the curve, creating and expanding trend-setting restaurant and nightlife concepts, which currently include 4 Katsuya locations (Hollywood, Brentwood, Downtown at LA LIVE, Glendale, Laguna Beach), XIV by Michael Mina, The Bazaar by José Andrés, Cleo, Gladstones, MI-6, 3 Hyde Lounge locations (Hollywood, Staples Center, Mammoth Mountain), The Abbey Food & Bar, INDUSTRY and The Colony. As the cornerstone of its synergistic approach, sbe has also completely rethought and re-imagined the luxury hotel experience. sbe debuted its luxury hotel brand, SLS Hotels, with the Fall 2008 opening of SLS Hotel at Beverly Hills, a Starwood Luxury Collection Hotel which has won international acclaim and numerous awards. Most recently, sbe launched it’s second hotel brand, The Redbury, located in the heart of Hollywood. Also in the sbe Hotel collection are Miami’s Ritz Plaza Hotel, Las Vegas’ Sahara Hotel & Casino and Four Points by Sheraton LAX. More information about sbe can be obtained at www.sbe.com.
ABOUT COLONY CAPITAL, LLC
Founded in 1991 by Chairman and Chief Executive Officer Thomas J. Barrack, Jr., Colony Capital is a private, international investment firm focusing primarily on debt and equity investments in real estate-related assets and operating companies. The firm has invested $45 billion in over 13,000 assets through various corporate, portfolio and complex property transactions. Colony Capital has a team of more than 250 and is headquartered in Los Angeles, with offices in New York, Boston, London, Madrid, Paris, Rome, Hong Kong, Beijing, Tokyo, Seoul and Taipei. For more information, visit www.colonyinc.com.