Tao Hospitality has acquired Hakkasan Group
The announcement has come this week that Tao Hospitality has acquired Hakkasan Group.
Two of the biggest names in Las Vegas nightlife, Tao Hospitality and Hakkasan Group have just merged which means the club scene will become quite the experience. As stated in a press release, the acquisition is aimed to “create a premium hospitality powerhouse that includes a global portfolio of brands and properties that will create a huge opportunity for growth”. The release also states that the monster company merger now dominates nightlife venues with 61 total venues spanning across five continents including world-famous venues such as Marquee, Lavo, Beauty & Essex, Avenue, Cathédrale, and Koma brands, as well as Hakkasan Group’s Hakkasan, Yauatcha, Omnia, Ling Ling, Jewel, and Casa Calavera brands, just to name a few.
This news has been in the pipeline for a few months, as speculations arose during the COVID-19 pandemic, which has put many nightclub venues at risk for bankruptcy, layoffs, and ultimately closure. We still aren’t sure whether or not there will be a new name to the newly acquired clubs, but we are positive that both companies are still fully committed to bringing a top-tier experience within all of the locations.
Noah Tepperberg, CEO of Hakkasan stated:
“This partnership provides a tremendous platform to use our combined scale to create new opportunities that drive value.” Along with this comment from Jason Strauss‘, CEO of Tao’s comment, “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.”
Read the full press release here.
Image credit: Hakkasan (via Facebook)