Hilton Taking Over NoMad Brand
Photo Credit: Interior of a room at the NoMad London. NoMad Hotels
Skift Take
Hilton acquires a majority stake in Sydell Group to globally expand the NoMad Hotels brand, with plans for up to 100 properties and integration into Hilton's commercial platforms, while NoMad Las Vegas will rebrand, addressing Hilton's gap in the luxury market.
The DJIA was down 43 points but Nasdaq was up 37, the S&P 500 rose 6 points and the 10 year treasury yield was down .01 to under 4.36%. Lodging stocks were mixed. The only mover of note was SLNA, trading down to another all-time low, under a dime a share, down another -11% today.
Hilton has acquired 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 globe. Sydell will be responsible for design, branding, and management of the NoMad brand while Hilton will lead all development. The NoMad brand will be fully integrated into Hilton’s commercial platforms, including Hilton Honors. All NoMad properties will remain independently owned. 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
