SBE has sold SLS Beverly Hills, a 297-room property, for approximately $200 million to Sunrider International. The hotel, managed by Starwood Hotels & Suites Worldwide Inc., opened in 2008.
According to Bloomberg Business, the deal is part of SBE’s transition to focusing on management operations, as founder Sam Nazarian plans to build a boutique hotel chain. The buyer, Sunrider International, is a manufacturer of beauty, health, and home products.
For the full story, visit Bloomberg Business.