Sydell Group explores sale of boutique NoMad Hotel Brand

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.