LAS VEGAS--sbe, an
industry-leading creative hospitality company that develops, manages
and operates award-winning hotels, restaurants and nightlife, announced
that they will officially break ground on SLS Las Vegas.
Slated to open in fall 2014, the redevelopment of SLS Las Vegas is
expected to infuse $400 million into the local economy, as well as
create a projected 8,600 direct and indirect jobs. Stockbridge Capital
Group of San Francisco is an equity partner in the project.
“It’s a proud day for sbe, our partners at Stockbridge and the Vegas
community as we embark on a historic chapter for SLS Las Vegas,” said
sbe Founder, Chairman and CEO Sam Nazarian. “We’re very excited to
deliver a new idea to Vegas in terms of brands, approachability,
operations and infrastructure, and to achieve our goal of helping to
revitalize the North End of the Strip.”
sbe has owned and operated the property for seven years, four as the
Sahara, and during that time has grown into a national and
international hospitality company. Having built a reputation for
successfully re-imagining historic structures and helping to rebuild
iconic neighborhoods, sbe will employ its philosophy of adaptive reuse
in redeveloping the property, an approach the company pioneered in Los
Angeles and Miami.
“sbe and SLS Hotels properties will be operational in every core urban
market in America by the time SLS Las Vegas opens, which is an
advantage no other hotel-casino owner on the Strip has,” added sbe
President Sam Bakhshandehpour. “Through our strategic expansion into
markets like Miami, Philadelphia, Seattle, Boston, Houston and New
York, we’re able to build considerable consumer awareness for the SLS
Las Vegas product on a national scale.”
Destined to become one of the most energetic hotels on the Las Vegas
Strip, SLS is a high-style collaboration between Nazarian, renowned
design icon Philippe Starck, James Beard award-winning chef and SLS
Hotels’ Culinary Director José Andrés and globally
acclaimed Gensler Architects. Once complete, SLS will be a
fully-integrated, entertainment-driven resort and casino with more than
1,600 guest rooms and suites.
“Last year, more visitors traveled to Las Vegas than ever before and
SLS Las Vegas will appeal to the millions of global travelers that come
to our city for its undisputed accommodations,” said Nevada Senator
Harry Reid. “This investment will create thousands of jobs, infuse
millions into the local economy, and help bring new energy to the north
end of the Strip. I have supported this project from the outset and am
so pleased that SLS Las Vegas is officially breaking ground.”
“We’re creating a mix of approachable offerings with established brands
under one roof that are managed and owned by one company,” said
Nazarian. “As a result we’re able to align operations and program a
seamless guest experience throughout every square foot of the property.”
Among key elements of SLS Las Vegas will be a collection of restaurant
concepts including The Bazaar by José Andrés, Katsuya by
Starck and Umami Burger. Also joining the restaurant collection is The
Griddle Café, which has taken on a cult-like status in LA for
its acclaimed breakfast, lunch, dessert and cocktail menus.
SLS Las Vegas will offer four nightlife experiences, including a
reinvention of sbe’s original nightlife concept, Shelter, and The
Sayers Club, regarded as Los Angeles’ most exclusive live music venue.
The property also will offer a 10,000-square foot Fred Segal retail
experience, featuring seven Fred Segal-branded boutiques, with a wide
range of stylish merchandise across various categories. Fred Segal will
be the exclusive retailer for SLS Las Vegas.
“With our proximity to a resurgent downtown community and the
convention center, and our mix of nationally relevant brands, SLS is
ideally positioned to appeal to locals, destination tourists and
conventioneers,” added President of SLS Las Vegas, Rob Oseland. “Today
is a day we’ve all been waiting for, and we’re thrilled to be a part of
reinvigorating a legendary section of the Strip.”
SLS Las Vegas will join sbe’s family of existing hotel properties
including SLS
Hotel Beverly Hills and The Redbury in Los Angeles, and The Raleigh and SLS Hotel
South Beach (touted as one of the top hotel openings of 2012)
in Miami. sbe has forthcoming hotel and restaurant projects currently
in development in New York, Chicago, Washington D.C., Seattle,
Philadelphia, Austin, the Middle East and Asia.
To learn more about sbe, please visit sbe.com or download the sbe App here. To
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ABOUT SBE:
sbe is a creative hospitality company that develops, manages and
operates award-winning hotels, restaurants and nightlife. Through
exclusive partnerships with cultural visionaries, sbe is dedicated to
delivering the best in design, culinary and entertainment. Already a
proven leader in the hospitality and real estate industries, sbe has
over 70 properties currently operating or in development, and has
expanded several of its flagship brands including SLS Hotels, Katsuya
by Starck, The Bazaar by José Andrés and Hyde Lounge
nationally and internationally. Founded in 2002 by Chairman and CEO Sam
Nazarian, sbe is a privately held company. More information about sbe
can be obtained at www.sbe.com,
or by downloading the sbe App here.
ABOUT STOCKBRIDGE CAPITAL GROUP
Stockbridge Capital Group, LLC (together with its affiliates,
"Stockbridge") is a real estate investment management firm, which had
approximately $5.2 billion in real estate and real estate-related
assets under management as of September 30, 2012. Stockbridge's
investment portfolio comprises more than 30 million square feet of
existing office, industrial, retail, hospitality and residential
properties throughout the United States. In addition to real estate
ownership, Stockbridge also specializes in large-scale development and
redevelopment projects.
Stockbridge is headquartered in San Francisco with offices and
personnel in Chicago, New York, Los Angeles and Atlanta. For more
information, please visit www.stockbridgerealestate.com.