Richbell Capital and Blue Skies Forever LLC have formed the Adelphi Hospitality Group (AHG), a company that aims to develop four- and five-star restaurants and hotels in strategic locations in the U.S. and overseas.
AHG has partnered with globally recognized chef and restaurateur Chef Gray Kunz, to assist in the creation of the food and beverage side of the business. He will oversee the dining experience at all AHG locations.
Michel Ducamp will also join the AHG team as the chief operating officer, bringing over 30 years of corporate, multi-property and property-based experience in luxury hospitality and real estate management, according to the group.
Restaurateur Christophe Chatron-Michaud will run the management of the restaurants and hotels, heading front-of-house alongside Ducamp and Kunz. Chatron-Michaud has conducted the early development phases and operations of famous restaurants including David Bouley, Jean-Georges Vongerichten, Daniel Boulud, Michael Mina, and Charlie Palmer, AHG said.
The first AHG opening was Salt & Char, a modern luxury steakhouse in Saratoga Springs. It opened the first weekend of July with Executive Chef Braden Reardon.
Reardon joins Salt & Char with over a decade of experience at some of America’s finest restaurants and hotels. Reardon comes from Manhattan, where he was executive chef of NYY Steakhouse.
Adjacent to this restaurant, the principals have acquired and are currently refurbishing the Adelphi Hotel, which the company expects will open in spring 2017. Originally built in 1877, the newly renovated Adelphi Hotel will blend old world grace and its Victorian grandeur with today’s expectation of quality, attentive service and contemporary amenities to create the ultimate hospitality experience, AHG officials said.
“As the last surviving hotel of Saratoga’s Golden Age, beauty and appreciation is found everywhere–from the preparation of every culinary dish to the intentional design of the hotel’s spaces–the Adelphi aims to reinvent the style of Saratoga Springs’ bygone era luxury as modern luxury,” the company said.
"The Adelphi Hospitality Group is comprised of leaders in global hospitality and related enterprises, each of us bringing our own specific expertise and decades of experience with some of the world's finest properties and businesses," said Simon Mildé, AHG partner.
Other partners include Simon Mildé, Toby Mildé, Larry Roth, David Roth, James Flood, and Larry Baucom.
Simon Mildé, whose companies include Richbell Capital (RBC) a development, construction and manager of commercial, residential and hospitality assets; the Greenwich Group International (GGI), a real estate investment banking firm focused on dispositions, recapitalizations, and development financing; and Terra Capital Partner (TCP), a New York-based real estate capital management company focused on originating, acquiring and managing bridge loans, mezzanine loans and preferred equity investments.
According to Mildé, collectively, these companies have completed in excess of $35 billion of real estate transactions.
Toby Mildé is president of RBC, where he oversees the day-to-day acquisition, development, construction, and property management activities for the company's real estate operations.
Roth is chairman of Blue Skies Forever LLC, a real estate investment company with substantial national holdings. He was the founder/president of Marchon Eyewear. Along with wife Nancy and daughter Jaime, he launched LNJ Foxwoods, a horse racing stable.
Roth, CEO of Blue Skies Forever, is also the co-founder of Aztech Mountain, a high-end performance men's sportswear company which won the 2016 style award at ISPO BRAND NEW, the world's largest start-up competition in the sporting goods industry. He is also a partner at the Clam, a New York City seafood restaurant.
Flood, COO of RBC, has more than 30 years of experience in real estate development and financial management. Baucom, senior managing director of RBC, is one of the founding partners of GGI and has over 35 years of commercial real estate experience.