Ennismore, the lifestyle hospitality company and joint venture with Accor (which holds a majority shareholding) has entered into exclusive negotiations to build a long-term partnership with privately held investment firm Cain International to grow the Delano hotel brand.
Through the partnership, Cain will acquire a minority stake in the Delano brand, collaborate with Ennismore to support the brand’s global growth and deliver its current expansion pipeline, including Seoul, South Korea; Istanbul, Turkey; and Cartagena, Colombia, with several other locations under negotiation. As part of the partnership, the Delano South Beach in Miami Beach, Fla., will undergo a substantial renovation and reopen as the brand's flagship location. Ennismore will continue operating all existing and future Delano properties globally.
The Delano brand launched in Miami in 1995 and now includes two concepts: the original Delano and the recently launched Maison Delano, which opened its first location in Paris on April 1.
"The Delano spearheaded a golden era for hospitality in Miami and set the tone for lifestyle and leisure concepts worldwide", Jonathan Goldstein, CEO and co-founder of Cain International, said in a statement. "Today's market presents an opportunity to move the needle again. We are thrilled to bring this iconic brand back to where it was incepted, marking the next chapter for the hospitality industry and look forward to working alongside Ennismore to expand the Delano brand's distinguished offering to new markets."
Ennismore’s lifestyle portfolio of 13 brands represents more than 100 operating hotels more than 140 in the pipeline and 200 restaurants and bars. In 2023, Ennismore is set to open nearly 30 hotels, including Mama Shelter, Rennes, France; SO/ Uptown Dubai, UAE; 21c Museum Hotel St. Louis; The Hoxton Charlottenburg, Germany; and Hyde and Mondrian Ibiza, Spain.
The investment will add to Cain's growing luxury lifestyle and leisure portfolio. Last year, the firm invested $900 million in Aman Group alongside Saudi Arabia's Public Investment Fund. It has partnered with brands including Raffles, Six Senses, Soho House and the Rosewood Hotel Group.