Sydell Group, according to sources with knowledge of the situation, is considering selling its NoMad Hotels franchise.
They asked not to be named because they were discussing internal issues.
The people stated that the negotiations are still ongoing, and it is not certain whether they will lead to a deal. Sydell’s and Hilton’s representatives declined to comment.
After the pandemic, many lodging companies were forced to close. Leisure travel is also on the rise as consumers are spending money saved from coronavirus lockdowns. Flexible work schedules make it easier to extend weekend trips.
According to its website, NoMad operates luxurious hotels in Las Vegas as well as London. The first NoMad hotel was opened in Manhattan’s NoMad neighborhood, north of Madison Square Park. However, the property is now closed.
Since 2018, the group has closed its second location in Los Angeles, Giannini Plaza. In 2021, the group will open its first European outpost near Covent Garden in London at the former Bow Street Magistrates’ Court. NoMad Las Vegas was opened in 2018 at the top of four floors of Park MGM.
Post Disclaimer
The following content has been published by Stockmark.IT. All information utilised in the creation of this communication has been gathered from publicly available sources that we consider reliable. Nevertheless, we cannot guarantee the accuracy or completeness of this communication.
This communication is intended solely for informational purposes and should not be construed as an offer, recommendation, solicitation, inducement, or invitation by or on behalf of the Company or any affiliates to engage in any investment activities. The opinions and views expressed by the authors are their own and do not necessarily reflect those of the Company, its affiliates, or any other third party.
The services and products mentioned in this communication may not be suitable for all recipients, by continuing to read this website and its content you agree to the terms of this disclaimer.