JLL is set to acquire SAG in the coming months.
JLL and the Strategic Advisory Group (SAG) have entered into an acquisition agreement, which will lead JLL to acquire SAG as part of their commitment to being one of the leading advisors in the hospitality industry.
SAG primarily provides various public entities with a complete slate of development advisory services, which include tourism strategy and marketing, asset management, public-private partnership structuring, and contract negotiations. JLL is reporting that the acquisition reflects their broader strategy of securing high-quality business acquisitions that will work to expand and complement the services that they currently offer.
Arthur Adler, Americas CEO of JLL's Hotels & Hospitality Group said their “leading team of experts collaborates with operators, owners, and investors of hotels around the world to support their investment strategies. Acquiring SAG will allow JLL to expand their platform to better serve public entities and clients across the tourism and travel industry, helping to differentiate them from other advisors.
The public sector is a key player in the hospitality industry since it is able to provide investments that help the private sector thrive. Currently, SAG is advising on the $615 million convention center expansion and renovation in Miami Beach while also helping to develop convention hotels in New Orleans, Houston, Los Angeles, and Salt Lake City. SAG also recently developed 20-year destination plans for both Charlotte, NC and Denver.
Jeff Sachs, the founder of SAG, says that JLL is able of offer the company the opportunity to leverage their team and lend vital research in the hospitality industry. The combination of SAG's expertise and JLL's existing relationships will help to provide the connections and platforms that are needed to reach a greater audience while maintaining a strong level of commitment to the unique needs of all existing and future clients.
For more information on the acquisition and what it could mean for the hospitality industry,
contact Parkwest General Contractors.
