Ennismore Signs With Activumsg to Open Sls Barcelona, The First Sls Hotel in Europe

USA, New York City, New York. May 11, 2022

Ennismore and ActivumSG Capital Management have signed a long-term management agreement that will bring Ennismore's lifestyle brand SLS to Europe for the first time, opening a 490-room hotel on the seafront of Barcelona in the second half of 2024.

The 31,326 sqm development is next to the beach and fronts the marina on the northeast side of Barcelona's [email protected] district - the former industrial area revitalized under a major regeneration program. It is the last seafront plot in metropolitan Barcelona available for hotel development, with the main structural work scheduled to be completed in the coming months.

Chadi Farhat, SLS Brand Chief Operating Officer, Ennismore, said "Opening in Barcelona is a massive statement of our ambitions to grow the SLS brand in Europe. SLS Barcelona is in a great location that offers so much to guests. We're excited at creating the ultimate luxury destination that guests will be torn to leave if they choose to explore the other delights of this great city."

Saul Goldstein, Founder and Chief Executive Officer of ActivumSG, said "SLS Barcelona will be a distinctive glamorous lifestyle destination, supported by the powerful reach of the Ennismore and Accor's distribution network. We couldn't be happier to have SLS as our operating partner since it's completely aligned with our vision to fill the gap in the lifestyle hotel market in this major European travel destination. It's a fantastic result for our hotel strategy of creating great hotels in the best locations as the industry recovers from the pandemic."

Operated by a modern, lifestyle brand with a playful edge, SLS Barcelona will provide roof-top dining and bars as part of a distinctive food and beverage offer. The hotel will feature three swimming pools, a 772 square-meter ballroom, a spa and beauty salon, and a well-being and fitness center. Each guest room will have a balcony.

The location boasts easy access to the historic center of Barcelona by car or public transport. Under the regeneration program initiated in the 1990s, the [email protected] district has transformed itself into a hub for innovation, technology and start-ups. It has also become a fashionable place to live, resulting in a vibrant mix of shops, restaurants, and bars. Adjacent to the future SLS Barcelona, is the city's major venue for outdoor music festivals and events, while the university's engineering faculty, the CCIB convention center and the Museu Blau natural science museum are all a short walking distance away.

SLS is the home of an extraordinary experience coupled with a playful ambience. Culinary artistry, theatrical interiors, subversive design touches and unexpected indulgences are at the heart of every SLS property. Collaborations with leading developers, architects, designers and chefs allow SLS to continue anticipating, innovating and shaping the future of luxury lifestyle living. With seven properties in Beverly Hills, Miami, Bahamas, Cancun, and Dubai, SLS is set to open two additional properties in Puerto Madero, Argentina, by May of 2022 and Scottsdale by 2023.

Lifestyle is one of the fastest-growing segments of the hospitality industry and lifestyle brands are recovering faster from the impacts of the pandemic, helped by strong local and domestic demand, in particular for restaurants and bars. Ennismore is leading the way in lifestyle, with its collective of 14 brands representing 92 operating properties across 26 countries, over 150 in the pipeline and over 150 restaurants and bars.

The project is an investment by ActivumSG's fifth real estate fund as part of a pan-European hotel strategy that ActivumSG began in Spain in 2015, initially targeting under-supplied segments of the market in major travel destinations. This strategy has evolved during the Covid-19 pandemic to focus on those segments of Europe's hospitality market that is best placed to recover as leisure and business travel recovers.

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