Hyde Paradiso was the first sbe brand to land in Australia, opening on the Gold Coast in 2019.

Accor’s journey with sbe has reached its crescendo, with the French multi-national hospitality group moving to acquire the remaining 50% of the luxury lifestyle and entertainment group’s hotel brands.

The transaction, which will see Accor bring the Delano, Mondrian, SLS and Hyde hotel brands under its wing as part of a major restructure of its lifestyle sector as part of its merger with Ennismore. Nazarian will remain closely linked to the former sbe hotel brands, acting as a special advisor on the brands to Accor Chairman and CEO, Sebastien Bazin.

Accor’s investment in sbe has seen the Mondrian brand expand to Australia’s Gold Coast.

In a USD$650 million cash and asset swap investment funded largely through the redemption of sbe debt facilities, the deal will also see Accor acquire several of sbe’s food and beverage brands including Cleo, Fila’s and Carna by Dario Cecchini.

Two specific hotels – the Hudson Hotel in New York and Delano in Miami – will be acquired by US holding company, Eldridge.

Accor Chaiman and CEO, Sebastien Bazin, said he was amazed at the journey Accor has been on with sbe in its three years together so far.

“Today marks a milestone crystallising these last years’ successes and international development,” Bazin said.

Sbe’s Hyde brand also arrived in Australia with three locations in Surfers Paradise, Perth and Sydney in 2019.

“This redesigned ownership structure will accelerate growth and a leaner management structure. Sam is a visionary leader and a relentless and talented entrepreneur. I am thankful he will continue the journey as my special advisor.”

Nazarian will spend US$200 million expanding his portfolio of food, beverage and entertainment brands, taking full ownership of sbe’s Disruptive Restaurant Group Platform (DRG) and its 15 owned restaurant and nightlife venues. He will also expand his stake in digital kitchen and lifestyle food hall business, C3, to a majority ownership role.

Accor Chaiman and CEO, Sebastien Bazin.

Following Accor’s 50% investment in sbe back in 2018, the company has significantly expanded the global presence of many of its hotel brands, with the portfolio of 22 properties growing to see 40 more added to the pipeline. The tie-up saw Mondrian expand into the Asia-Pacific region, with major recent openings including the Mondrian Seoul Itaewon in South Korea and the brand’s recently announced forthcoming debut in Australia in the form of Mondrian Gold Coast.