SLS Beverly Hills sells for $195 million

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.

Virtual Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

The privately owned company also recently purchased the St. Ermin’s Hotel in London.

 

Suggested Articles

The Buccini/Pollin Group has a longstanding connection to the Baltimore region, opening its first hotel in the area in 1997.

BentallGreenOak, Flank Management and Geolo Capital have acquired the Hutton Hotel in an all-cash purchase.

Frontline Real Estate Partners: Hospitality Division has leadership from Frontline Real Estate Partners, Four Corners Advisors and Aries Capital.