We Now Know What Hilton Paid for NoMad Hotels: Just $56 Million
Skift Take
Hilton has revealed it paid $56 million to acquire a controlling stake in NoMad Hotels, a smaller sum than recent comparable acquisitions in the luxury hotel sector. Now it plans to scale the brand to 30 to 50 hotels.
When Hilton announced last April that it had acquired a majority controlling interest in Sydell Group, the owner of NoMad Hotels, it did not disclose deal terms. But Hilton revealed the price in an annual financial filing posted Thursday: Just $56 million.
That's probably one of the cheapest deals for a brand by a major hotel group in recent years.
In the filing, Hilton stated: "In April 2024, we acquired a controlling financial interest in both Sydell Hotels & Resorts, LLC and Sydell Holding Company UK Ltd (collectively, the "Sydell Group"), which owns the NoMad brand."
"We accounted for the transaction as a business combination and recognized the fair value, which included measurement period adjustments made
