Dubai-based Sunset Hospitality Group (SHG) has secured US$35 million in funding from Goldman Sachs Asset Management to help support its global expansion plans.
The projects that the funding will be used for include the opening in summer 2023 of the flagship property Mett Hotel and Beach Resort in Marbella. SHG is also reportedly actively exploring additional opportunities within the Mediterranean, UK, USA and Asia.
“We are very proud to receive the support of Goldman Sachs,” said Antonio Gonzalez, CEO of Sunset Hospitality Group. “The investment is a sign of confidence in Dubai and the UAE as a hub of entrepreneurship and a growing centre for hospitality.”
SHG was founded in Dubai ten years ago and is currently present across nine countries worldwide.
It owns and operates a portfolio of hospitality lifestyle brands, including Mett Hotels and Resorts, Aura, Azure Beach, Sushisamba, Isola, Black Tap, Ammos and Drift Beach, among others.
Earlier this year, it opened dining and entertainment concept Dream at the Address Jumeirah Resort and Spa (JBR) in Dubai. It was followed by the opening of L’Amo Bistro del Mare at Dubai Harbour. In June, by way of a partnership with MJS Holding in Saudi Arabia, it opened the first Black Tap in Riyadh’s King Abdullah Financial District (KAFD).
Upcoming openings this year include Mott 32, a Chinese restaurant founded in Hong Kong; lounge concept, Attiko, in the rooftop of W Mina Seyahi, and Signor Sassi, the Italian restaurant from London which will open in The St. Regis Dubai, The Palm. Beyond Dubai, SHG aims to open 15 additional international venues, and expand to 14 countries by the end of 2023.
“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,” said Gonzalez.