One of the biggest shifts in the nightlife industry was announced this week. The names are no stranger to our vocabulary. Tao Hospitality announced that it has acquired Hakkasan Group, shaking up the Las Vegas (and more) nightlife scene for the better. According to the press release, the acquisition will create a premium hospitality powerhouse that includes a global portfolio of brands and properties that will create a huge opportunity for growth between the two. The titans bring decades of industry experience; both with highly skilled executive teams to help seamlessly continue to execute the day-to-day operations.
The release states that the the newly combined company operates 61 entertainment dining and nightlife venues in 22 markets across five continents. The venues include Tao Group Hospitality’s Tao, 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, among many others.
The merger has been a long time coming. They’ve both been in talks for months, even during the pandemic. The groups have been determined to continue to bring unforgettable live experiences all around the world. There’s no word yet on if there will be a name change but it expected to see many new names of venues, restaurants, and more to various cities across the globe.
“Despite the challenges caused by the pandemic, we know there’s a real desire by people around the world to gather once again,” Strauss says in a press statement. “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.”