SBE Entertainment Group closes its $805 million acquisition of the Morgans Hotel Group, which includes the landmark Delano Hotel in South Beach.
December 01, 2016 at 05:00 AM
1 minute read
The Delano Hotel in South Beach has a new owner following a portfolio takeover by SBE Entertainment Group, a Los Angeles-based hospitality company.
The trade came as SBE completed the $805 million acquisition of New York-based Morgans Hotel Group, which operated iconic brands like the Delano and Mondrian, SBE founder and CEO Sam Nazarian announced Thursday. The combined company will operate 22 hotels with SBE taking direct ownership of the 194-key Delano in Miami Beach.
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