Pegasus Capital Completes Purchases of Six Senses Resorts & Spas
By James Shillinglaw
June 26, 2012 11:06 PM
Pegasus Capital Advisors L.P., a U.S.-based private equity fund manager, through one or more of its affiliates, has acquired the Bangkok-based ultra-luxury resort and spa management business of Six Senses Resorts & Spas for an undisclosed sum.
Following the terms of the binding agreement signed in April 2012, Pegasus now holds the rights to the Six Senses and Evason resort and spa management contracts and related intellectual property. Sustainable Luxury Holdings (BVI) Limited, a newly formed company managed by Pegasus and its affiliates, will operate these newly acquired assets. “Six Senses is now a debt-free company, and will continue to pursue opportunities in new and existing international markets with a focus on unique destinations,” said Craig Cogut, founder of Pegasus Capital Advisors. “We are confident that our president, Bernhard Bohnenberger, and our management team will continue the Six Senses legacy.”
This transaction involved the purchase of rights to manage and operate the Six Senses and Evason branded luxury resort properties and spas, and did not include a purchase of interests in any of the physical real estate related to the resorts or spas. Further announcements will be made in the upcoming months.
The new generation of Six Senses will consist of 28 branded spas around the world and the following Six Senses branded resort properties -- Six Senses Laamu (Maldives), Six Senses Zighy Bay (Oman), Six Senses Yao Noi (Thailand), Six Senses Samui (Thailand), Six Senses Hua Hin (Thailand), Six Senses Con Dao (Vietnam), Six Senses Ninh Van Bay (Vietnam), Six Senses Saigon River (Vietnam, under construction), Six Senses Qing Cheng Mountain (China, under construction), Evason Ana Mandara (Vietnam), Evason Hua Hin (Thailand) and Evason Ma’In (Jordan).
The Soneva brand and resorts, as well as the company’s real estate assets and holdings, were not acquired by Pegasus and will continue to be owned by Sonu Shivdasani, the former founder and CEO of Six Senses, who will serve as chairman and CEO and principal shareholder of The Soneva Group.