SHG secures $35mn funding from Goldman Sachs to accelerate global expansion

DUBAI, UAE, Nov 1: 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 opportunities 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.”

Brands

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.”