InterContinental Hotels buys Six Senses
InterContinental Hotels Group has bought upmarket rival Six Senses Hotels Resorts Spas for $300 million.
The cash acquisition from Pegasus Capital Advisors includes all of Six Senses’ brands and operating companies and does not include any real estate assets.
The acquisition boosts IHG’s presence in the luxury market and enables it to add new locations. Six Senses will be the flagship brand in IHG’s luxury portfolio, which is already the largest luxury hotel brand in the world.
The acquisition of Six Senses takes IHG’s portfolio of open and pipeline luxury hotels to 400 hotels and 108,000 rooms globally.
Six Senses currently manages 16 hotels and resorts, with 18 management contracts in the pipeline and more than 50 further deals under active discussion.
Locations include Fiji, the Maldives (pictured above), the Seychelles, Yao Noi in Thailand, Zighy Bay in Oman, and the Douro Valley in Portugal.
IHG said it plans to grow the Six Senses portfolio to more than 60 properties globally over the next 10 years, including expanding in urban markets. A property is already under construction in Manhattan.
IHG CEO Keith Barr said: “Six Senses is an outstanding brand in the top-tier of luxury and one we’ve admired for some time.
“You only have to look at its iconic hotels and resorts to see how this acquisition will further round out our luxury offer.
“With a focus on wellness and sustainability, Six Senses has been voted the world’s top hotel brand for the past two years, which is testament to its impressive management team who bring deep experience to IHG’s luxury operations.”
source: Travel Mole