SBE, led by Sam Nazarian, has sold the SLS Beverly Hills for $195 million, or around $656,500 per key, to hotel firm Sunrider International. The 297-room luxury hotel opened in 2008. The hotel was reportedly put up for sale a year ago as part of SBE's strategy to reduce real estate holdings while expanding its management contract business.
According to Atlas Hospitality, investors bought 399 California hotels for a total of $5.1 billion in 2014.
Sunrider was founded by an herbalist born in Taiwan, according to Westside Today. It makes nutritional supplements, beauty products, weight loss drinks, household cleaners and other food supplements, beauty supplies and other products distributed in more than 40 countries. It also has a hotel chain called Sunworld Dynasty that owns and operates three hotels in Beijing and Taipei.
The privately owned company also recently purchased the St. Ermin’s Hotel in London.