Tao Group Hospitality has acquired Hakkasan Group, bringing together two leading brands in nightlife, daylife and dining experiences. In total, Tao now owns and operates 60+ dining and nightlife venues in 22 markets across five continents.
This move aims to further the growth of both brands globally, as Omnia, Hakkasan and Jewel come under the same ownership as Tao, Marquee, Lavo and Beauty & Essex. Particularly, this deal furthers Tao’s reach into Las Vegas, Southern California and Miami.
The Hakkasan Group team will continue to oversee daily operations by the direction of Tao Group co-CEOs Noah Tepperberg and Jason Strauss, who shares of the new acquisition:
Despite the challenges caused by the pandemic, we know there’s a real desire by people around the world to gather once again. As indoor dining and other hospitality experiences start to return to regular operations, we believe our newly combined company will be well-positioned to take advantage of this pent-up demand, setting the stage for long-term growth.
Tao Group is part of Madison Square Garden Entertainment Corp., which famously runs Madison Square Garden in New York. There are also ambitious plans in the works for MSG Sphere venues in Las Vegas and London, expected to reach completion in 2023.
No financial details of the Tao Group Hospitality x Hakkasan Group merge have been provided.
Source: Restaurant Business | Photo Credit: Wolf Productions