Crown Investment Holdings Acquires 20% Ownership Interest in Nobu Hospitality and Restaurant Group
October 29, 2015 11:33am
SYDNEY and NEW YORK, Oct. 29, 2015 -- Crown Investment Holdings, a subsidiary of Crown Resorts Limited, ("Crown") and Nobu Hospitality and Restaurant Group ("Nobu") are pleased to announce that Crown Investments has acquired a 20% investment holding in Nobu a US-based, international luxury hospitality, hotel and restaurant business, in a private transaction.
Nobu is ranked among an elite selection of global luxury hospitality brands with the Nobu brand thriving in the world's capitals as the destination lifestyle hotel and restaurant experience. With operations spanning 5 continents with 32-restaurants and 10-hotels within its development portfolio it is one the fastest growing luxury hospitality companies in the world. Nobu is privately owned in the majority by Chef Nobu, Robert DeNiro and Meir Teper and is the recipient of numerous industry awards, honors and accolades.
"For years I have personally enjoyed the hospitality of Crown Resorts which are genuinely some of the world's best five star hospitality destinations," said Chef Nobu. "James has been a passionate partner in establishing Nobu at Crown Resorts and City of Dreams and I look forward to him being our partner as we continue growing with our loyal and dedicated Nobu team."
"James has been a visionary investor, leader and catalyst for many groups within the hospitality, film and a host of other global businesses," said Robert DeNiro. "We are successfully growing our international portfolio and with James we have a mutual affinity and shared ambition to further establish Nobu as the game-changer in the industry."
"We are globally expanding the group at a strong pace whilst ensuring we maintain the specialness of our brand," said Meir Teper. "James has a dynamic international reputation, mindset and determination with extensive global relationships and is the perfect partner to be a part of our global expansion strategy."
"I am humbled that Bob, Meir and Nobu have given Crown the opportunity to invest in the Nobu business at the parent company level. The Nobu business that they have built is now a recognized global premium brand and a testament to their hard work and commitment to excellence. The quality of the food and hospitality offerings that the Nobu brand provides is absolutely world class and has significant growth potential," said James Packer.
"Whilst many Australians may be familiar with Nobu food - which personally is my favorite food - there is also enormous upside in the hotel side of their business. The pipeline of Nobu hotels is extremely exciting and is of the highest luxury standard. Nobu already has a number of iconic and boutique hotels in key destinations, including at the Melco Crown City of Dreams Resort in Manila," said James Packer.
"I am proud that the existing three Nobu partners believe Crown will be a value add partner and I am committed to deepening the relationship between the two companies to add value and brand leverage. I am extremely happy to say that the proposed Crown Sydney Hotel Resort will have an iconic Nobu restaurant in future, just like the restaurants already operating at our resorts in Perth and Melbourne. Crown will also look to evaluate the financial returns on remodeling our Crown Promenade hotels in Melbourne and Perth into Nobu hotels," said James Packer.
"It is worth noting and goes to the strength of the Nobu brand the ADR premiums that the Nobu hotels achieve in Caesars Palace in Las Vegas and also in COD Manila. Nobu is a global premium brand and I am delighted that Crown is becoming a 20 percent shareholder," said James Packer.
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Crown is one of Australia's largest entertainment groups. It has businesses and investments in the integrated resort and entertainment sectors in Australia and Macau and wholly-owns and operates a high-end casino in London.
In Australia, Crown wholly-owns and operates Crown Melbourne in Victoria and Crown Perth in Western Australia. In the United Kingdom, Crown wholly-owns and operates the Crown Aspinalls, a high-end casino in Mayfair, London. In addition to Crown's wholly owned assets, Crown holds a 33.6% equity interest in Melco Crown Entertainment Limited, an operator of integrated resorts in Macau. It also has a portfolio of other gaming investments which are complementary to its other businesses.
Contact: Natasha Stipanov
Recently named one of luxury's 25 Most Innovative Brands by Robb Report, Nobu Hospitality, Hotel and Restaurant Group is ranked among an elite selection of global luxury hospitality brands. The natural growth of the Nobu luxury brand built on service, image and hospitality, offers the complete spectrum of hotel and restaurant management for unique projects around the world. The first Nobu restaurant opened in 1994 in New York with the first international restaurant in 1997 in London. With 33 restaurant operations spanning five continents, the Nobu brand thrives in the world's capitals as the destination lifestyle experience. The Nobu Hotel Caesars Palace Las Vegas was named one of the Hottest New Hotels by CNN Travel, Top North America Hotel Opening by Luxury Travel Advisor and Luxury Travel Advisor's Award of Excellence. The first Nobu Hotel in Asia is at the City of Dreams Manila and will be followed by Nobu Hotels in Miami Beach, Malibu, London, New York, Riyadh, Chicago, Los Cabos, Bahrain in addition to other pipeline projects. Nobu is strategically focused on further expanding its global portfolio of Nobu Hotels through a solid development pipeline.
Contact: Struan McKenzie, Nobu Hospitality
Contact: Dana Sardinha, Nobu Restaurants
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