Project HQ leverages sbe's decades of
lifestyle expertise, offering a transformative solution for
adapting legacy hotels into exceptional centers for dining,
nightlife, and wellness.
Designed for savvy Millennial and Gen Z
travelers, Project HQ has strategic investment from entertainment
icon and entrepreneur, Marc Anthony;
targeting 50 open hotels by 2030.
Project HQ joins Wyndham's Registry Collection
Hotels brand, tapping into the scale, resources and reach of the
world's largest hotel franchisor.
MIAMI, Jan. 22,
2024 /PRNewswire/ -- sbe, the privately-held leading
international lifestyle hospitality group that develops, manages
and operates world-class hotels, restaurants, lounges and
nightclubs, and Wyndham Hotels & Resorts (NYSE: WH), the
world's largest hotel franchising company with approximately 9,100
hotels spanning over 95 countries, announced today the launch of a
new smart lifestyle brand under the working title, Project
HQ Hotels & Residences.
Project HQ unites the decades of experience of lifestyle
visionary Sam Nazarian with the
global scale, resources and reach of Wyndham. Owned by sbe with
strategic investment by entertainment icon, entrepreneur and sbe
equity partner Marc Anthony and his
company Magnus, Project HQ will be affiliated with Wyndham's
Registry Collection Hotels, which caters to hotel owners in the
luxury and smart lifestyle segments.
This marks sbe's first hotel brand after the 2020 sale of its
hospitality brand and management platform which included over 100
hotels (SLS, Delano, Mondrian and Hyde, among others), more than
150 restaurants and lounges, and over $4
billion of luxury residential sales.
Executive Quotes
Sam Nazarian, Founder &
CEO of sbe states: "At sbe, we believe in the
fundamental value of hotels as places where people make memories
and experience wonder. When we created lifestyle luxury back in
2005 with SLS, we forged a new category. Now, almost 20 years later
we look to reinvent lifestyle again with Project HQ, the first
smart lifestyle hotel brand. We will channel our entrepreneurial
spirit and deep industry expertise into crafting intuitive,
groundbreaking solutions for both hotel owners and guests. As a
global leader for over two decades, we feel uniquely equipped to
solve for the unmet needs of the next generation who are eager to
engage with culinary excellence and vibrant social spaces that
we've curated and cultivated with intention. It is such a privilege
to have the support of an icon and entrepreneur like Marc Anthony as we embark on this next chapter.
We also feel so honored to have established a strategic alliance
with the best-in-class team at Wyndham and look forward to bringing
The Wyndham Advantage to owners of Project HQ hotels around the
globe."
Geoff Ballotti, President
& CEO, Wyndham Hotels & Resorts states:
"Today we are combining Sam
Nazarian's unmatched culinary and lifestyle experience with
the unrivalled scale and resources of the world's largest hotel
franchisor to fuel Project HQ Hotels & Residences. Our owners
drive our success. Hotel owners searching for a differentiated, yet
approachable, lifestyle brand will immediately benefit from the
scale and resources of the world's largest hotel franchisor,
gaining access to best-in-class sales, distribution and technology,
along with the industry's number one hotel loyalty program in
Wyndham Rewards."
Smart Lifestyle: A New Category
With over two decades of experience in lifestyle hospitality,
sbe is setting out to pave the way for a new category, smart
lifestyle, revolutionizing hospitality by building communities
and creating meaningful memories for its savvy Millennial and Gen Z
guests through memorable experiences. Project HQ was concepted to
be a more approachable experience for the consumer that has been
priced out of the lifestyle hotel market and doesn't feel like they
have a brand that speaks to their desires in travel. Project
HQ is the only smart lifestyle brand that provides innovative,
proven solutions for the hospitality space. The brand name "Project
HQ" is born from the concept that Project HQ Hotels will be in the
heart of the cities they launch in, serving as the "headquarters"
for exceptional dining, nightlife and wellness.
Project HQ's 360 Approach to Smart Lifestyle
With brands backed by celebrity chefs like Casa Dani from
3-star Michelin Chef Dani García;
MXO, a Mexican Steakhouse by Chef Wes
Avila; the award-winning Katsuya by Chef Katsuya Uechi; and more brands in incubation
with rising stars in the culinary space, Project HQ provides a
unique food and beverage experience that transforms its hotels into
sought-after destinations for locals and travelers alike. With a
comprehensive approach, Project HQ offers legacy hotel owners an
unparalleled and simplified experience to revitalize their
properties, elevating them into distinguished Project HQ Hotels
& Residences.
With a 360 approach to programming a property, Project HQ can
equip a hotel with a desirable brand and global awareness,
pre-approved FF&E packages, supply chain, technology
integrations, OS&E packages, and unique programming to monetize
otherwise underutilized spaces of the hotel. Project HQ can deliver
this through its collection of partnerships and collaborations.
Project HQ will provide owners with sbe wellness programming,
adding the med spa offering with sbe Wellness Clinics, and
myriad food and beverage offerings ranging from fine dining to the
array of brands from Sam Nazarian's
C3 and Nextbite with influential celebrity partners like
Sofia Vergara, Dario Cecchini, Iron Chef Masharu Morimoto, Dani
García, and Wes Avila; YouTube
influencers like Dude Perfect and Matt Stonie; legendary brands like Umami
Burger and Soom Soom and
additional brands with cult followings. These comprehensive
enhancements will not only help hotels revitalize their real
estate, but deeply enrich the guest experience, making every visit
memorable and unique.
Project HQ Branded Residential
Project HQ will also deliver a uniquely positioned branded
residential offering for underserved markets like integrated
student housing, workforce housing and the like. After launching an
extremely successful branded residential business with brands like
SLS and Mondrian that regularly sold for ~20% above market rates,
this Project HQ product is set to build on that expertise to
deliver a unique smart lifestyle residential program that
will drive licensing revenue for owners and address a need for the
most sought-after Millennial and Gen Z audience.
A Strategic Alliance: Wyndham
Through its strategic alliance with Wyndham, Project HQ join
Wyndham's Registry Collection Hotels brand. Widely recognized for
its OwnerFirstSM approach, Wyndham in recent years has
invested more than $275 million in
technology, helping deliver industry-first sales, marketing and
digital innovations including mobile check-in/check-out, mobile key
and more—all while expanding its on-the-ground operational support
of hotels.
From next-gen property and revenue management systems to opt-in,
revenue-boosting, ancillary services like its Signature
Reservation Services, to loyalty-building team member
incentives like The Rewards Circle—no other major hotel
company is more focused or more committed to the long-term,
collective success of owners and franchisees.
Project HQ will also participate in Wyndham Rewards, connecting
them to a rapidly growing enrolled member base of
approximately 105 million everyday travelers around the globe.
Program members account for nearly one out of every two check-ins
at Wyndham's hotels across the U.S. and on average, stay and spend
nearly twice as much as non-members. Wyndham Rewards is routinely
celebrated for its simple, generous approach to rewards has been
named the number one hotel rewards program by both U.S. News &
World Report and the readers of USA TODAY.
The Future of PROJECT HQ
Project HQ plans to open 50 hotels by 2030, delivering
approximately 7,500 rooms designed uniquely for the savvy
Millennial and Gen Z traveler. PROJECT HQ's business development
team will also benefit from the experience and reach of Wyndham's
large development organization, aiding the brand in seeking out
both ground up developments and conversion Projects. Project HQ's
concept is a solution that legacy hotel owners have a deep and
urgent need for in todays' market. Project HQ plans to open 50% of
its properties stateside with 50% of openings internationally, and
a mix of 80% conversion Projects and 20% ground up new
construction.
Media Contacts:
sbe | Jennifer Hawkins,
jennifer.hawkins@finnpartners.com
Wyndham | Maire Griffin,
maire.griffin@wyndham.com
About sbe
Established in 2002 by Founder and
CEO Sam Nazarian, sbe is a privately-held, leading lifestyle
hospitality company that develops, manages and operates world-class
hotels, restaurants, lounges and nightclubs. Through exclusive
partnerships with cultural visionaries, sbe is devoted to creating
extraordinary experiences throughout its proprietary brands with a
commitment to authenticity, sophistication, mastery and innovation.
Over the last decade, sbe has mastered the art of creating
desirable destinations; the lifestyle platform included over 100
hotels and 150 restaurants and lounges. In 2020, Sam
Nazarian shifted his focus to the culinary and nightlife world
by launching Disruptive Restaurant Group (DRG.) DRG incubates and
operates globally renowned culinary brands including
critically-acclaimed restaurants, lounges and nightclubs. By
partnering with an impressive roster of internationally renowned
culinary talent, DRG concepts are committed to innovation and
setting new industry standards. Restaurants and lounges include:
Casa Dani, by three Michelin-starred Chef Dani Garcia;
Citizens; Katsuya, by Chef Katsuya Uechi; Kumi; MXO by
Wes Avila, Doheny Room; HYDE; LiFE;
and S Bar. In 2023, sbe announced its foray back into hotels
with PROJECT HQ Hotels & Residences, a smart lifestyle concept
launched via a strategic alliance with Wyndham Hotels
& Resorts. Sam Nazarian has consistently demonstrated his
ability to anticipate and shape the future of hospitality and
gastronomy. With his unwavering passion, entrepreneurial prowess,
and a portfolio of iconic brands, Sam has cemented his position as
a trailblazer in both the hospitality and culinary world for
generations to come. To learn more, visit sbe.com.
About Wyndham Hotels & Resorts
Wyndham Hotels
& Resorts (NYSE: WH) is the world's largest hotel franchising
company by the number of properties, with approximately 9,100
hotels spanning over 95 countries and six continents. Through
its network of approximately 858,000 rooms appealing to the
everyday traveler, Wyndham commands a leading presence in the
economy and midscale segments of the lodging industry. The
Company operates a portfolio of 24 hotel brands, including Super
8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®,
AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®.
The Company's award-winning Wyndham Rewards loyalty program offers
approximately 105 million enrolled members the opportunity to
redeem points at thousands of hotels, vacation club resorts and
vacation rentals globally. For more information, visit
www.wyndhamhotels.com.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
related to the development and rooms growth. Wyndham claims the
protection of the Safe Harbor contained in the Private Securities
Litigation Reform Act of 1995 for forward-looking statements.
Forward-looking statements include those that convey management's
expectations as to the future based on plans, estimates and
Projections at the time Wyndham makes the statements and may be
identified by words such as "will," "expect," "believe," "plan,"
"anticipate," "intend," "goal," "future," "outlook," "guidance,"
"target," "objective," "estimate," "Projection" and similar words
or expressions, including the negative version of such words and
expressions. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors, which may cause the
actual results, performance or achievements of Wyndham to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of
hereof. Factors that could cause actual results to differ
materially from those in the forward-looking statements include,
without limitation: general economic conditions, including
inflation, higher interest rates and potential recessionary
pressures; the effects from the coronavirus pandemic, including the
impact on Wyndham's business, as well as the impact on its
franchisees, guests and team members, the hospitality industry and
overall demand for and restrictions on travel; the performance of
the financial and credit markets; the economic environment for the
hospitality industry; operating risks associated with the hotel
franchising business; Wyndham's relationships with franchisees; the
impact of war, terrorist activity, political instability or
political strife, including the ongoing conflicts between
Russia and Ukraine and between Israel and Hamas; Wyndham's ability to satisfy
obligations and agreements under its outstanding indebtedness,
including the payment of principal and interest and compliance with
the covenants thereunder; risks related to Wyndham's ability to
obtain financing and the terms of such financing, including access
to liquidity and capital; and Wyndham's ability to make or pay,
plans for and the timing and amount of any future share repurchases
and/or dividends, as well as the risks described in Wyndham's most
recent Annual Report on Form 10-K filed with the SEC and subsequent
reports filed with the SEC. Wyndham undertakes no obligation to
update or revise any forward-looking statements, whether as a
result of new information, subsequent events or otherwise, except
as required by law.
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SOURCE sbe