Sixty Collective secures $35M investment, intros new brand

Founded in 2014, Sixty Collective currently encompasses four hotels, including Sixty SoHo in New York City. Photo credit: Sixty Collective

The Silverstone Cos., a vertically integrated hospitality and lifestyle investment firm, acquired a stake in Sixty Collective, including exclusive rights to development in Asia. With the initial $35 million investment, Sixty Collective plans to expand its core brand, Sixty Hotels, throughout North America into key primary and secondary markets, including Miami; Washington D.C.; Dallas; San Francisco; Nashville; Wilmington, N.C.; and Charleston, S.C.

“Leveraging the Sixty brand’s marketing, design, operational and technological expertise, the global expansion will position Sixty Hotels at the forefront of the boutique-hotel industry,” Sam Bakhshandehpour, CEO and managing partner of The Silverstone Companies, said in a statement.

Additionally, Sixty Collective has launched a spinoff brand Civilian Hotels, which will “marry form and function and employ cutting-edge technology, flexible floor plans, exquisite design, and boutique practices for the experience-desired consumer.” The brand is expected to debut this year.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

“Building on what we do best, SIXTY is on the course of rapid development and expansion,” Jason Pomeranc, founder/CEO of Sixty Collective, said in a statement. “With the launch of Civilian, this investment will also provide Sixty with the opportunity to create a democratic response to an a-la-carte revolution that has placed a new generation of value-oriented, experience-hungry consumers in the driver’s seat.

Sixty Collective is the latest hospitality company from Pomeranc, the co-founder and creative director of Thompson Hotels. Founded in 2014, it currently encompasses four hotels, three in New York City and one in Beverly Hills, Calif. They total 444 guestrooms.

Suggested Articles

The two associations said they plan on working with political leaders on further legislation to ease loan restrictions.

WE ARE EXPERIENCING A “BLACK SWAN”

This is a metaphor used by Nassim Nicholas Taleb to describe events such as Coronavirus, which happen…

Hotel One Sixty-Six Magnificent Mile chose the software company’s rGuest Stay and RGuest Pay solutions.