M&A Deal Summary

SBE Entertainment Group Acquires Morgans Hotel Group

On May 9, 2016, SBE Entertainment Group acquired leisure company Morgans Hotel Group for 794M USD

Acquisition Highlights

This is SBE Entertainment Group’s 1st transaction in the Leisure sector.
This is SBE Entertainment Group’s largest (disclosed) transaction.
This is SBE Entertainment Group’s 1st transaction in the United States.
This is SBE Entertainment Group’s 1st transaction in New York.

M&A Deal Summary
Date	2016-05-09
Target	Morgans Hotel Group
Sector	Leisure
Buyer(s)	SBE Entertainment Group
Deal Type	Add-on Acquisition
Deal Value	794M USD
Advisor(s)	Morgan Stanley (Financial) Fried Frank Harris Shriver & Jacobson (Legal)

Target

Morgans Hotel Group

New York, New York, United States

Morgans Hotel Group Co. is widely credited as the creator of the first “boutique” hotel and a continuing leader of the hotel industry’s boutique sector. Morgans Hotel Group operates Delano in South Beach, Mondrian in Los Angeles, South Beach and London, Hudson in New York, Morgans and Royalton in New York, Clift in San Francisco, Shore Club in South Beach and Sanderson and St Martins Lane in London. Morgans Hotel Group has ownership interests or owns several of these hotels. Morgans Hotel Group also licenses its brand through Delano in Las Vegas and 10 Karaköy in Istanbul, Turkey. Morgans Hotel Group has other hotels in various stages of development to be operated under management or franchise agreements, including a Mondrian property in Doha, Qatar and a Delano in Dubai.

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