Luxury hospitality chain sbe expects to grow despite coronavirus pandemic
sbe Corporation announced it plans to expand its hotel portfolio
While parts of the hotel industry are struggling as the world nears a yearlong pandemic, the sbe Corporation aims to grow its portfolio to 50 hotels by 2023.
The luxury hospitality company announced its ambitious goal in a press release on Thursday, which was related to its upcoming SLS Dubai Hotel & Residence that’s set to open in the second quarter of 2021.
COVID-19 VACCINE MARKS 'MAJOR MILESTONE' FOR REELING HOTEL INDUSTRY
The earlier press release stated sbe "aims to grow 50 hotels nationally and internationally by the year 2021," but a media representative for the company has since clarified to FOX Business that it will have 50 hotels in total open by 2023 despite the coronavirus pandemic.
Outside of Dubai, a few other destinations sbe is expanding its reach into are Cancun, London and Australia.
HOTELS APPROACH 1B UNSOLD ROOM NIGHTS DURING PANDEMIC: REPORT
The New York-based hospitality company has provided a glimpse of its future plans on the “Grow With Us” section on the sbe website.
The sbe Corporation and Accor shared a photo of its upcoming Mondrian Shoreditch London hotel, which is set to open in spring 2021. (sbe Corporation/Accor)
"In just over a decade, sbe has brought the concept of culturally transcendent properties to life through partnerships with industry-leading experts and cutting edge design visionaries," the section reads. "We continue to redefine contemporary hospitality and real estate development, and are constantly in search of those that share our vision to create extraordinary experiences in new communities, in new markets, in new — literally groundbreaking — ways."
ATARI HOTELS' CONCEPT ART AND DETAILS RELEASED, LAS VEGAS AND PHOENIX LOCATIONS ANNOUNCED
The sbe Corporation is the hospitality company that is behind upscale hotel chains, including SLS (“service, luxury style”), Mondrian, Delano, The House of Originals and Hyde. Additionally, sbe is responsible for dozens of restaurants and lounges throughout the country.
At the time of publication, sbe operates 22 hotels, 81 restaurants and 50 lounges. If successful in its hotel opening plans, that would be a 77.8% increase in sbe’s portfolio.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
An interios shot of sbe's Katsuya Brentwood restaurant in Los Angeles. (sbe Corporation)
The growth plan comes two months after full ownership of sbe’s hotel brands and select restaurants were signed over to Accor, a French multinational hospitality company that owns, manages and franchises hotels, resorts and vacation properties.
CLICK HERE TO READ MORE ON FOX BUSINESS
Accor’s portfolio includes economy, midscale, premium and luxury properties such as Jo&Joe, Mercure, The Sebel and Banyan Tree.