NEW YORK, November 24, 2020– Proskauer, a leading international law firm, announced that it represented longtime client Accor in taking full ownership of the sbe hotel brands.
Accor is taking full ownership of sbe’s hotel business, including the Delano, Mondrian, SLS, and Hyde hotel brands along with most of sbe’s Food & Beverage brands including Cleo, Fili’a or Carna by Dario Cecchini. Eldridge is acquiring sbe’s ownership interest in the Hudson Hotel in New York and the Delano in Miami. In parallel, entities controlled by sbe’s founder Sam Nazarian took control of sbe’s Disruptive Restaurant Group platform and its interest in C3, a digital kitchen and lifestyle food hall business.
Proskauer has represented Accor for more than 23 years in numerous transactions and other matters in North and South America, Europe, Asia and Australia with aggregate deal value of more than $9 billion. Proskauer previously advised Accor on its initial investment in sbe in 2018.
The Proskauer deal team was led by partner Jeff Horwitz, who co-heads our Private Equity Real Estate and Hospitality, Gaming & Leisure Groups, and included partners Steven Lichtenfeld and Yuval Tal and associates Michael Saliba, Robert Chiu and Carolyn Killea (Corporate); partner David Weinberger and associate Michael Abramson; partner Stuart Rosow and associate Amy Zelcer; partner Michael Lebowich (Labor & Employment); partner Steven Weinstein and associate and Susan McAleavey (Employee Benefits & Executive Compensation); and associate Kelly Landers Hawthorne (Litigation).