Hilton (NYSE: HLT) announced its acquisition of a majority controlling interest in Sydell Group to expand the NoMad Hotels brand from its existing London flagship location to high-end markets around the world.
According to a statement issued by Hilton, the “addition of NoMad to Hilton’s brand portfolio marks the global hospitality leader’s entry into the fast-growing luxury lifestyle hotel market with a meticulously designed brand defined by exceptional food and beverage, interior design and service.” The NoMad brand will be fully integrated into Hilton’s commercial platforms, including Hilton Honors, while the NoMad properties will remain independently owned. NoMad’s NoMad London hotel will be available for booking to Hilton guests beginning later this year, while the NoMad Las Vegas is excluded from the transaction and will rebrand to a new flag in the coming months.
Hilton projects that as many as 100 NoMad properties will be developed globally, with approximately 10 already in advanced stages of discussion with Sydell.
The financial terms of the transaction were not disclosed.
“Adding NoMad to our growing brand portfolio will create new offerings for guests seeking unique luxury experiences in some of the world’s most desirable locations,” said Chris Silcock, president of global brands and commercial services at Hilton. “By pairing an already proven brand concept that’s ready for expansion with the power of Hilton’s commercial engine, we are accelerating our ability to drive growth in the luxury lifestyle segment. Coupled with our recently announced exclusive partnership with Small Luxury Hotels of the World and our planned acquisition of the Graduate Hotels brand, Hilton is leading the hotel industry with the addition of innovative new luxury and lifestyle offerings that meet changing guest needs and add new opportunities for owners to join our system.”
