Cain International sells stake in sbe Entertainment Group to AccorHotels

Cain International has closed on the sale of its stake in sbe Entertainment Group to AccorHotels providing a successful exit to its investors.

Jonathan Goldstein, Cain International’s chief executive and cofounder said, “In just over a year and a half, Cain International helped sbe Entertainment Group finance and institutionalize their business and acquire Morgans Hotel Group. The acquisition by AccorHotels will allow sbe to write its next chapter.”

Cain International first took a stake in sbe Entertainment Group in December 2016, providing capital to institutionalize and dramatically scale the business through acquisition, development and repositioning of more than $1 billion in assets worldwide.

This investment enabled the acquisition of Morgans Hotel Group, which more than doubled the number of hotels in sbe’s portfolio, including the SLS Hotel & Residences, Delano, Mondrian, Redbury, Hyde Hotel & Residences, Hudson, Sanderson and St Martin