Sam Nazarian, founder and CEO of the SBE Entertainment Group, said of the deal: “The resort remains a valued member of the expanding collection of SBE branded and managed luxury hotels across the country and the globe.”
Hotelier’s company also giving up management of the money-losing property
Hotelier Sam Nazarian has agreed to sell his minority stake in the SLS Las Vegas hotel and for his company to give up management of the money-losing property on the Las Vegas Strip.
Stockbridge Capital Partners, the San Francisco-based real-estate investor that owns 90% of the hotel, has agreed to buy the remaining 10% owned by Mr. Nazarian and his family, according to people familiar with the matter.
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