Sam Nazarian's hospitality group SBE has acquired its largest Los Angeles nightlife competitor, David Judaken's Syndicate Hospitality—which means Nazarian now has the biggest portfolio of nightclubs on the West Coast. Added to a roster of clubs that already includes Industry and the Abbey are Hollywood's MyStudio, MyHouse, Eden, and Crimson and Opera. SBE now has 25 venues in all, with a plan for 35 by the end of next year, according toThe Los Angeles Times.
In an in-depth interview, Nazarian told The Times that he expects to reopen the soon-to-be shuttered Sahara Hotel in Vegas, acquired in 2007 for an estimated $300 million. He'll reopen it in 2014 as an SLS Las Vegas, with six restaurants and two nightclubs. "We've spent $30 million in design development drives; we're shovel-ready. If we were admitting defeat, we would have admitted it," he toldThe Times, referring to much speculation over financial trouble.
Nazarian told The Times that his plan is to transfer Los Angeles-grown brands like SLS, Redbury, Cleo, Hyde, and the Bazaar to other markets, including international markets.
—Alesandra Dubin
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