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InterContinental Hotel Group (IHG) acquires Six Senses for $300 million

InterContinental Hotel Group (IHG) acquires Six Senses for $300 million

IHG buys luxury hotel operator Six Senses Hotels Resorts & Spas from Pegasus Capital Advisors for $300 million. Revealing a move which increases IHG’s global presence and adds a hefty number of luxurious properties in some of the world’s most desirable and exotic destinations, the purchase of Six Senses by the hospitality goliath has been announced. Huge acquisitions are always a hot topic in the hospitality industry, and the latest news that industry giant InterContinental Hotel Group has bought luxury hotel group Six Senses from  Pegasus Capital Advisors certainly falls into that category. For the cool price of $300m, IHG now takes control of all of Six Senses’ 16 hotels, 18 management contracts in the pipeline and more than 50 deals currently in negotiation. The move reflects IHG’s ambition to expand further into the luxury market, and Six Senses’ portfolio of idyllic properties in the Maldives, Thailand, Oman and Portugal, to name but a few, fully cements this intention. Six Senses will sit above IHG’s other luxury acquisitions of late, including Regent Hotels and Kimpton Hotels. Keith Barr, Chief Executive Officer of IHG, said, “Six Senses is an outstanding brand in the top-tier of luxury and one we’ve admired for some time. You only have to look at its iconic hotels and resorts to see how this acquisition will further round out our luxury offer. With a focus on wellness and sustainability, Six Senses has been voted the world’s top hotel brand for the past two years, which is a testament to its impressive management team who bring deep experience to IHG’s luxury operations.” The acquisition was conducted for $300m in cash and involves the sale of the Six Senses brand and its management business. While Six Senses has been operating as an asset-light business, IHG intends to grow Six Senses substantially over the next 10 years to reach a total of approximately 60 properties. The purchase does not include any real estate assets, but focuses on incorporating Six Senses spas, which total 37 under the Six Senses and LivNordic brands. The process of acquisition is a complex one, further complicated by the spa element, so no doubt both IHG and Six Senses were grateful that consultancy firm Horwath HTL Health and Wellness were on hand to advise. The company’s experience in wellness undoubtedly proved invaluable, and Ingo Schweder, Managing Director of Horwath HTL Health and Wellness, spoke of the trajectory of the wellness industry, saying, “With IHG’s acquisition of Six Senses, we see yet another major hospitality group making a large, strategic investment in wellness, signalling that wellness is not a fad but, in fact, the new reality and a necessary component of the hospitality business. People are becoming increasingly concerned about their health and wellbeing and investing in themselves to ensure an optimal status of health whether at home or while traveling.”

Create: Apr 9, 2019     Edit: Apr 10, 2019
Radisson RED Miami Brickell Hotel to Open 2021

Radisson RED Miami Brickell Hotel to Open 2021

Hotel News -  Radisson Hotel Group announced the signing of its second Radisson RED in Miami, Fla. The new-build hotel, located at 900 SW 2nd Avenue, will feature 180 guest rooms. Guests can unwind at the rooftop restaurant and bar, OUIBar + KTCHN, boasting panoramic views and a relaxing atmosphere. The lifestyle hotel brand inspired by art, fashion and music provides a bold take on hospitality for the connected traveler. Each Radisson RED hotel embraces its city by incorporating unique local elements to the stay experience. Located in the vibrant Brickell neighborhood, the hotel will be near fantastic restaurants, art galleries and fashionable boutiques. Construction on the hotel is anticipated to begin early-2020 with plans to open mid-2021. "We are thrilled to bring a second Radisson RED into the dynamic city of Miami, a location that perfectly aligns with the brand's DNA," said Ken Greene, president, Americas, Radisson Hotel Group. "This hotel will be a top-notch destination catering to business and leisure guests in South Florida's booming tourism industry. This is an excellent way to start the year as we plan to announce more key signings in the coming months, which exemplifies our growth strategy outlined in our five-year plan." The signing of Radisson RED Miami Brickell marks the brand's sixth hotel in the Americas. This announcement follows the recent signing of a Radisson RED in Plano, Texas and the opening of Radisson RED Portland Downtown and Radisson RED Campinas. Radisson RED Miami Airport is expected to open late 2019. The brand opened its first Americas hotel in Minneapolis, Minn. There are also locations in Brussels, Cape Town and Glasgow. Radisson RED Miami

Create: Mar 18, 2019     Edit: Sep 17, 2019
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