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Accor continued its focus on lifestyle brands Tuesday with plans to acquire the half of lifestyle brand SBE the hotel company didn’t already own.
Paris-based Accor intends to take on full ownership of the SBE brand in a $300 million investment. Accor took on half ownership of SBE — owner of brands like SLS, Delano, and Mondrian — in a 2018 deal valued at $319 million. Tuesday’s announcement comes after Accor announced in September plans to launch an independent division for its lifestyle brands.
“There are a lot of outside partners knocking on Accor’s doors trying to partner with their own similar brands,” Accor CEO Sebastien Bazin said of the new lifestyle division in September at Skift Global Forum. “But they would only do so if they’re welcomed into dedicated business unit rather than under the large Accor umbrella.”
Accor did not respond to Skift’s request for comment in time for publication, but company leaders have been vocal on their plans for significant growth in the lifestyle sector going forward.
Accor spearheaded global growth plans for the Mondrian and Delano brands in recent months. Those brands along with the Hyde hotel concept and SBE’s food and beverage brands will be rolled into Accor’s lifestyle division.
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