InterContinental Hotels Group has completed its
acquisition of Six Senses Hotels Resorts Spas.
The $300 million
cash acquisition from Pegasus Capital Advisors includes all of Six
Senses’ brands and operating companies, but does not include any
real estate assets. It does include Six Senses’ spa operations,
which are core to the brand’s luxury and wellness positioning. Six
Senses operates 37
spas in total under the Six Senses and LivNordic brand names, and
also provides spa consultancy services.
Six Senses currently manages 16 hotels and
resorts, with 18 management contracts signed into its pipeline,
and more than 50 further deals under active discussion.
properties in locations such as Maldives, Seychelles, Yao Noi in Thailand, Zighy
Bay in Oman, and Portugal’s Douro Valley, the addition of Six
Senses’ estate and high-quality
development pipeline will further round out IHG’s position in the
Six Senses will sit at the top of IHG’s luxury portfolio,
InterContinental Hotels & Resorts; the recently acquired and
repositioned Regent Hotels & Resorts; and Kimpton Hotels &
Restaurants, for which IHG has secured a presence in 14 countries,
since its acquisition of the brand in 2015.
The acquisition of
Six Senses takes IHG’s portfolio of open and pipeline luxury
hotels to 400 hotels (108,000 rooms) globally.
Keith Barr, Chief
Executive Officer, IHG, said, “Six Senses’
attractive development pipeline provides us with a platform for
high quality growth. With the power of the IHG enterprise, we
believe we can expand Six Senses to more than 60 properties
globally over the next decade. This acquisition continues the
progress we’ve made against the strategic initiatives we outlined
a year ago, which included a commitment to adding new brands in
the fast-growing $60 billion luxury segment.”
The target of 60 properties globally over the
next 10 years includes bringing Six Senses to important
urban markets, with a property already under construction in West
Chelsea, Manhattan, New York City.
The Six Senses management
are expected to remain in place.