Ennismore—a lifestyle hospitality company and joint venture with Accor, which holds a majority shareholding—has entered into exclusive negotiations to build a long-term partnership with Cain International (Cain), the privately held investment firm, to drive forward the global expansion of the hotel brand Delano.
The partnership will see Cain acquire a minority stake in the Delano brand, collaborate with Ennismore to support Delano’s global growth ambitions and deliver its current expansion pipeline, including Seoul, Istanbul and Cartagena, with several other locations under negotiation. As part of the partnership, the iconic Delano South Beach will undergo a substantial renovation and reopen as the brand’s flagship location. Ennismore will continue operating all existing and future Delano properties globally.
The Delano brand launched in Miami in 1995, with global lifestyle resort experiences. Today, the Delano brand has evolved to include two concepts: the original Delano and the recently launched Maison Delano, which opened its first location in Paris this April. With a balance between relaxation and sophistication, Maison Delano distills a unique philosophy engaging with a new generation of guests searching for the Delano experience in the heart of the city.
“Delano is one of the most iconic lifestyle brands, which took the hospitality industry by storm when it first launched in 1995,” said Phil Zrihen, head of Americas, Ennismore. “As we look to the future, Delano is constantly evolving, paying respect to the original brand, however, with a fresh new take which will appeal to both existing and new Delano guests. We’re incredibly excited to partner with Cain International, who will help us reach our ambitious growth plans, opening both Delano and Maison Delano properties in new regions and cities.”
“The Delano spearheaded a golden era for hospitality in Miami and set the tone for lifestyle and leisure concepts worldwide,” said Jonathan Goldstein, CEO/cofounder, Cain International. “Today’s market presents an opportunity to move the needle again. We are thrilled to bring this iconic brand back to where it was incepted, marking the next chapter for the hospitality industry and look forward to working alongside Ennismore to expand the Delano brand’s distinguished offering to new markets.”
Lifestyle is one of the fastest-growing segments of the hospitality industry and Ennismore has a lifestyle collective of 13 brands representing more than 100 operating hotels, with a further 140+ in the pipeline and 200 restaurants and bars. In 2023, Ennismore is set to open nearly 30 hotels, including Mama Shelter, Rennes, France; SO/ Uptown Dubai, UAE; 21C Museum Hotel St. Louis; The Hoxton Charlottenburg, Germany and Hyde and Mondrian Ibiza, Spain.
The investment will add to Cain’s growing luxury lifestyle and leisure portfolio. Last year, the firm invested $900 million in Aman Group alongside Saudi Arabia’s Public Investment Fund. It has partnered with brands including Raffles, Six Senses, Soho House and the Rosewood Hotel Group.