Business & Finance
Abu Dhabi firm reportedly offered $700 million for luxury venues
The Hollywood Reporter reports that DIAFA sought to buy the Sunset Tower Hotel and San Vicente clubs.
The short version
- DIAFA, an Abu Dhabi hospitality group tied to Sheikh Tahnoon bin Zayed Al Nahyan, reportedly offered $700 million to purchase the Sunset Tower Hotel and San Vicente clubs.[The Hollywood Reporter]
- Owner Jeff Klein turned down the multi-million-dollar acquisition offer.[The Hollywood Reporter]
- DIAFA has previously secured controlling stakes in major hospitality operations including the h.wood Group and Richard Caring's empire.[The Hollywood Reporter]
Key facts
- DIAFA reportedly offered $700 million to acquire the Sunset Tower Hotel and San Vicente clubs from Jeff Klein, who rejected the proposal.[The Hollywood Reporter]
- DIAFA bought a majority stake in John Terzian and Brian Toll's h.wood Group in September.[The Hollywood Reporter]
- DIAFA secured a majority stake in British restaurateur Richard Caring's hospitality holdings in April.[The Hollywood Reporter]
- Investment interests associated with Sheikh Tahnoon bin Zayed Al Nahyan control prominent clubs and dining venues such as Delilah, Sexy Fish, Annabel's, and the Bird Streets Club.[The Hollywood Reporter]
What remains uncertain
- The reported $700 million acquisition proposal from DIAFA has not been publicly confirmed by either DIAFA or Jeff Klein.[The Hollywood Reporter]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.
- Your Favorite Hollywood Hotspot? Guess Who Owns It.The Hollywood Reporter metered