The Silverstone Companies has acquired a stake in New York and California-based SIXTY Collective, a hospitality company. The investment was for $35 million.
NEW YORK, Jan. 28, 2020 /PRNewswire/ — SIXTY Collective, the innovative hospitality company whose primary mission is to develop brands that reimagine the boutique hotel experience comprised of four successful properties across New York City and Los Angeles, announced today that The Silverstone Companies, LLC., the vertically integrated hospitality and lifestyle investment firm has acquired a stake in the company, including the exclusive rights to development in Asia.
With an initial $35 million investment, SIXTY Collective will expand its core brand, SIXTY Hotels, throughout North America into key primary and secondary markets, including Miami, Washington D.C., Dallas, San Francisco, Nashville, Wilmington, and Charleston, among others.
“Silverstone is thrilled to partner with SIXTY Collective. It is an honor for us to help lead the brand’s expansion along with the company’s visionary and arbiter of the ultrahip hotel, Jason Pomeranc, for an art-driven, boutique experience that will better serve the needs of consumers. Leveraging the SIXTY brand’s marketing, design, operational and technological expertise, the global expansion will position SIXTY Hotels at the forefront of the boutique-hotel industry,” said Sam Bakhshandehpour, CEO and Managing Partner of The Silverstone Companies.
In addition to the management growth of the primary brands, SIXTY Collective also announced the launch of a spinoff brand, CIVILIAN Hotels, a bold, new hospitality venture that will marry form and function, and employ cutting-edge technology, flexible floor plans, exquisite design, and boutique practices for the experience-desired consumer. Debuting in 2020, this modern boutique concept will not only be geared towards the next-generation traveler but will also be made accessible and affordable for every human.
“This is an exciting time for SIXTY Collective. We are on a mission to break new ground with aggressive expansion plans scheduled for 2020. Our companies share a future focus approach to developing properties that blend authenticity and diversity with bespoke, culturally-driven experiences, transformative travel, and dedication to reducing our carbon footprint,” said Jason Pomeranc, Founder and CEO of SIXTY Collective. “Building on what we do best, SIXTY is on the course of rapid development and expansion. With the launch of Civilian, this investment will also provide SIXTY with the opportunity to create a democratic response to an a-la-carte revolution that has placed a new generation of value-oriented, experience-hungry consumers in the driver’s seat. Together we will usher in a new era of hospitality that prioritizes the guest experience over everything.”
“We are excited to bring the collection of creative brands that Jason Pomeranc has created over the years to our partners across Asia,” said John Wang, Chairman and Managing Partner of The Silverstone Companies.
With combined experience in food & beverage, Cultivate Hospitality Group, Silverstone’s full-service food & beverage platform will collaborate with SIXTY to broaden existing offerings and develop new dining concepts to add to the current portfolio.
ABOUT SIXTY Collective
SIXTY Collective, an international hospitality company for which the primary purpose is to develop, brand and operate unique properties that will re-imagine the boutique hotel experience is unified by a common thread of provocative design and compelling programming. SIXTY Collective’s mission is to create and execute an unforgettable lifestyle experience that goes above and beyond simply offering luxurious accommodations. Each property is designed to be a fully immersive extension of the city it calls home. Founded in 2014, hotelier, Jason Pomeranc along with his brothers, Michael, and Lawrence came together to create a next brand, SIXTY Collective, following the sale of the group’s interests in Commune Hotels & Resorts and Thompson Hotels.
In the fall of 2001, the Pomeranc’s debuted their first 100-room boutique property, 60 Thompson, which was a pioneer in SoHo’s luxury lifestyle hotel sector. The opening of 60 Thompson inspired the creation of Thompson Hotels, an award-winning brand that garnered international recognition and acclaim. For more than 12 years, Jason served as Co-Founder and Creative Director of Thompson Hotels developing, rebranding, and renovating over 14 hotels throughout North America and the UK before merging with Joie de Vivre and Geolo Capital in 2011 to form Commune Hotels and Resorts. He served as co-chair of Commune for two years, where he grew the portfolio to over 55 hotels, before selling the Thompson brand to Commune in August 2013. One year later, the Pomeranc brothers create a fresh concept, SIXTY Hotels, with a portfolio of luxury lodgings throughout New York City and Los Angeles. SIXTY Hotels remains an unrivaled immersive experience that reflects the unique DNA of its locale.
ABOUT The Silverstone Companies
Founded in 2015, Silverstone is a vertically integrated hospitality and lifestyle investment firm. We focus on hotel, restaurant, entertainment, co-working, health & wellness and specialty retail companies. Silverstone invests in a collection of forward-thinking operating businesses, that deliver distinctive experiences to consumers. Fully controlling the customer experience activates real estate, drives traffic, and ultimately allows real estate owners to increase cash flow. Given the founders’ combined 50+ years of investment, operations and advisory experience, Silverstone delivers an innovative and diverse perspective to the hospitality industry.