Luxury resort operator Six Senses agrees buyout

Luxury resort operator Six Senses agrees buyout

Bangkok-based luxury resort operator Six Senses Resort & Spa has agreed to an acquisition by Pegasus Capital Advisors for an undisclosed sum.

The terms of the sale have been agreed by both sides ahead of it being formally completed within the next three months, according to an announcement released today.

Under the terms of the deal, Pegasus will acquire all of the Six Senses and Evason branded resort and spa management contracts plus related intellectual property rights.

It will operate the resorts under a new company managed by Pegasus and its affiliates. Six Senses' Sovena brand is not part of the deal and will be operated separately.

Bernhard Bohnenberger, currently president of Six Senses, will continue in the role as well as heading the Six Senses’ Bangkok office.

Craig Cogut, founder of Pegasus Capital Advisors, said: “Six Senses is known around the world for providing a unique and innovative guest experience.

“The brand has a great heritage, and we believe it is strongly positioned to grow.  Going forward, the new Six Senses will be a debt-free company with committed capital for expansion into new and within existing international markets.

“We are confident that our president Bernhard Bohnenberger and our strong management team will continue to build on its legacy as a recognised leader in luxury hospitality."
 
The Soneva brand and resorts, as well as the company’s real estate assets and holdings, were not included in the transaction, and will continue to be led by Sonu Shivdasani, the former founder and chief executive of Six Senses.

He will serve as chairman and chief executive of The Soneva Group as well as being its principal shareholder.

Shivdasani said: “This transaction will allow me to focus solely on the development of the Soneva portfolio of resorts and real estate assets, and allow the Soneva and Six Senses brands to flourish independently of each other.

“For myself and Eva, my wife, this means we can devote all our energies to our first love – the development of the Sonevas. 

“Soneva will continue to operate its philanthropic arm, The Slow Life Trust, and remain dedicated to achieving environmental goals and a corporate commitment to sustainability.”

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