Sydell Group is exploring a sale of its NoMad Hotels brand, according to people with knowledge of the matter.
The closely held company is gauging interest for the boutique asset from potential buyers including Hilton Worldwide Holdings Inc. and other major operators, the people said, asking not to be identified discussing internal matters.
Deliberations are ongoing and there’s no certainty they will result in a transaction, the people said. Representatives for Sydell and Hilton declined to comment.
Lodging companies have bounced back from the brink after the pandemic forced many to shut down. Leisure travel has also rebounded as consumers spend the money they saved during coronavirus lockdowns, while flexible work patterns make extending weekend trips easier.
NoMad operates luxury hotels in Las Vegas and London, according to its website. The company opened its first hotel in the Manhattan neighborhood known as NoMad, just north of Madison Square Park, but the property has since closed.
The group’s second location, which opened at Giannini Place in Los Angeles in 2018, has also since shuttered. The group opened its first European outpost in London in 2021, at the former Bow Street Magistrates’ Court near Covent Garden. The NoMad Las Vegas opened in 2018 on the top four floors of the Park MGM.
(Updates with background.)
