LOS ANGELES—The SLS Beverly Hills has been sold by sbe to Sunrider International, a family-owned health and beauty company.
The ownership group (which included sbe and the Nazarian family), based here, decided to sell its flagship SLS property in an expanding market while remaining onboard as the brand operator.
“The sale of SLS Beverly Hills represents the successful evolution of sbe,” said Sam Nazarian, chairman and CEO of sbe and its subsidiary, SLS Hotels. “We saw an opportunity that is beneficial to SLS Beverly Hills, as well as the growth of the SLS Hotels brand as a whole.”
The 297-room SLS Beverly Hills opened in November 2008 as part of The Luxury Collection Hotels & Resorts brand, managed by Starwood Hotels & Resorts Worldwide, Inc., with design by Philippe Starck and a culinary program crafted by James Beard Award-winning chef José Andrés.
“Since acquiring SLS Beverly Hills, we have challenged every traditional convention of luxury hospitality,” Nazarian said. “Selling the hotel represents an excellent value for sbe and Sunrider International, which shares our vision for this world-class property.”
According to sbe, it has implemented a strategy to add value to the asset, working closely with Starwood to strengthen its average daily rate and occupancy, as well as emphasizing its food and beverage and special events components.
The sale follows a recent sbe announcement naming five new locations for SLS Hotels, including expansion into Mexico. The company has 11 new projects in various stages of development, construction and negotiation. They include a total of 1,893 hotel rooms and 2,230 residences throughout the world.