Sunset Hospitality Group secures USD $35 million funding from Goldman Sachs Asset Management to accelerate global expansion
* Hospitality firm SHG plans rapid expansion, with aims to operate over 60 venues and grow its presence to 14 countries within the next twelve months
Dubai, UAE; October 31, 2022 – Sunset Hospitality Group (“SHG”), the diversified hospitality group, renowned for developing and operating highly popular lifestyle brands, has secured USD $35 million funding from Goldman Sachs Asset Management (“Goldman Sachs”).
SHG was founded in Dubai ten years ago and is currently present across nine countries worldwide. The group owns and operates a large portfolio of hospitality lifestyle brands, including METT Hotels & Resorts, AURA, Azure Beach, SUSHISAMBA, Isola, Black Tap, L’amo, Ammos and Drift Beach, among others.
The funding will support ambitious international expansion plans, including the opening in summer 2023 of flagship property METT Hotel & Beach Resort, in Marbella. SHG is actively exploring additional 0pportunities within the Mediterranean region, UK, USA and Asia.
“We are very proud to receive the support of Goldman Sachs. This is a powerful testament to our performance and potential, and the result of the hard work of our incredibly talented team” said Antonio Gonzalez, CEO of Sunset Hospitality Group. “The investment is a sign of confidence in Dubai and the United Arab Emirates as a hub of entrepreneurship and a growing centre for hospitality. We are very excited for this new chapter, and we look forward to proving our potential and accelerating our growth.”
Patrick Ordynans, Managing Director at Goldman Sachs Asset Management, added: “Sunset has developed a number of strong brands over the last decade, underpinned by strong management team and solid financial profile. We look forward to supporting the company’s ambitious growth plans and being part of the journey ahead.”
As part of SHG’s growing portfolio, earlier this year the team opened DREAM at the Address Jumeirah Resort and Spa (JBR), a dining and entertainment concept on Dubai’s most popular coastline. It was followed by the opening of L’Amo Bistro del Mare, an upscale Italian seafood restaurant at Dubai Harbour. In June, a partnership with MJS Holding in Saudi Arabia led to the opening of the first Black Tap in Riyadh’s King Abdullah Financial District (KAFD).
Upcoming openings this year include Mott 32, a renowned Chinese restaurant founded in Hong Kong; a new high-energy lounge concept, ATTIKO, in the rooftop of W Mina Seyahi, and Signor Sassi, the iconic Italian restaurant from London which will open in St Regis The Palm. Beyond Dubai, SHG aims to open 15 additional international venues, cementing its presence across 14 countries by the end of the 2023.
“We remain committed to growth within the UAE and wider GCC region,” said Gonzalez. “However, we also want to take our team’s talent and ambition further afield and apply all the know-how we have developed over the past decade, and export the Dubai standards of hospitality to a wider stage. We are actively looking at acquisition opportunities to continue our exponential growth around the world and the support of Goldman Sachs is fundamental to this new phase of our company.”
About Sunset Hospitality Group:
Sunset Hospitality Group (SHG) was founded in 2011 with a vision to create unique hospitality experiences around the world, ranging from resorts and beach clubs to restaurants and nightlife venues. Since then, the group has grown to become a leading hospitality investment and management company developing new and pioneering concepts and acclaimed multinational brands. SHG has a presence in nine countries across 26 brands with a proven record in delivering a blend of high-quality services at exceptional locations. SHG’s portfolio includes renowned concepts including METT Hotels & Resorts, Azure Beach, Ammos, Drift Beach Club, AURA, SUSHISAMBA, DREAM, L’Amo Bistro del Mare, Black Tap, Luigia, Lola Taberna Española, Goldfish, Isola, Raise Fitness & Wellness, and many more. Celebrating its first 10 years last year, SHG continues its impressive growth and plans to increase its portfolio to more than 50 operating venues and extend its footprint to 14 countries by 2023. Visit www.sunsethospitality.com
About Goldman Sachs Asset Management:
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of June 30, 2022. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Established in 1996, the Private Credit business within Goldman Sachs Asset Management is one of the world’s largest private credit investors with over $100 billion in assets across direct lending, mezzanine debt, hybrid capital and asset-based lending strategies. Our deep industry and product knowledge, extensive relationships and global footprint position us to deliver scaled outcomes with speed and certainty, supporting companies from the lower middle market to large cap in size. Follow us on LinkedIn.