Richbell Capital and Blue Skies Forever on Wednesday announced the formation of The Adelphi Hospitality Group (AHG), Saratoga Springs, New York, which plans to develop 4- and 5-star restaurants and hotels in strategic global locations.
The New York City-based principals have acquired and are currently refurbishing The Adelphi Hotel in Saratoga, New York, which will open in Spring 2017. At the same time, along side the hotel next month the group will Salt & Char, a modern luxury steakhouse under Executive Chef Braden Reardon, who was most recently executive chef at NYY Steakhouse in Manhattan. AHG has partnered with chef and restaurateur Chef Gray Kunz to assist in the creation of the F&B side of the business.
Luxury resort operator Michel Ducamp will also join the AHG team as the chief operating officer, while restaurateur Christophe Chatron-Michaud, who has worked with numerous celebrity chef-restaurateurs, will run the management of the restaurants and hotels.
“The Adelphi Hospitality Group is comprised of leaders in global hospitality and related enterprises, each of us bringing own specific expertise and decades of experience with some of the world’s finest properties and businesses,” said Simon Mildé, a partner at AHG along with Toby Mildé, Larry Roth, David Roth, James Flood and Larry Baucom.
Simon Mildé’s companies include Richbell Capital (RBC), a development, construction and manager of commercial, residential and hospitality assets; The Greenwich Group International, a real estate investment banking firm focused on dispositions, recapitalizations, and development financing; and Terra Capital Partner, a New York City-based real estate capital management company focused on originating, acquiring and managing bridge loans, mezzanine loans and preferred equity investments. Collectively, these companies have completed in excess of US$35 billion of real estate transactions.