James Packer to join board of international restaurant and hotel company.
Crown Resorts Limited has just announced the acquisition of a 20% stake in the company which operates the global network of Nobu restaurants and hotels, for US$100 million.
The other 80% of Nobu will continue to be held by the existing owners, Japanese chef Nobu Matsuhisa, movie star Robert De Niro and Hollywood producer Meir Teper.
“We see the Nobu brand as complementary to Crown Resorts’ global luxury entertainment positioning, and the Nobu business has an attractive near-term growth profile with a number of new restaurant and hotel openings planned,” said Crown chairman Rob Rankin.
Packer established a relationship with the Nobu group some years ago, and there are Nobu restaurants in both Crown Melbourne and Crown Perth, as well as a Nobu Hotel at City of Dreams in Manila.
“This acquisition cements that existing strong relationship,” Rankin said, with the deal including the nomination of Australian billionaire James Packer to join the Nobu board of directors.
More information in today’s issue of Travel Daily.