Tao Group Hospitality
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| Traded as | NYSE: MSGE |
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| Industry |
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| Founded | 2009 |
| Founder |
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| Headquarters | New York City, United States |
Area served |
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| Parent | Madison Square Garden Entertainment |
| Website | taogroup |
Tao Group Hospitality is a prominent global player in the hospitality industry, renowned for its extensive portfolio of restaurants, nightclubs, lounges, and daylife venues.[1] With a remarkable presence in over 20 markets across four continents, the company owns and operates a diverse collection of over 80 branded locations.[2][3]
Tao Group's hospitality brand portfolio includes internationally recognized names such as TAO, Hakkasan, OMNIA, Marquee, LAVO, Beauty & Essex, Yauatcha, Cathédrale, Ling Ling, Wet Republic, Little Sister, The Highlight Room, Sake No Hana, Jewel, and more. With its unwavering commitment to providing extraordinary experiences, the company continues to redefine the boundaries of hospitality on a global scale.[4]
History
Tao Group Hospitality was founded in 2009 by Jason Strauss, Noah Tepperberg, Marc Packer, and Rich Wolf and is headquartered in New York City. The company has a global presence and operates in over 80 locations across 20 international markets.[5][6]
The founding story of Tao Group Hospitality dates back to 1997 when Jason Strauss and Noah Tepperberg established a marketing agency. This agency worked with renowned brands such as Coca-Cola and PlayStation. After selling their marketing agency, Strauss and Tepperberg ventured into the hospitality industry and opened the iconic Marquee Nightclub in New York City in 2003.[7]
Around the same time, Marc Packer and Rich Wolf launched Tao Uptown in NYC in 2000. Building on their successes, the four founders joined forces and embarked on a joint venture, opening Tao Asian Bistro & Nightclub at the Venetian Resort in Las Vegas. They followed this up with the establishment of LAVO in 2008.[8][9]
In 2009, Strauss, Tepperberg, Packer, and Wolf officially formed the Tao Group, solidifying their collaborative efforts. Over the years, Tao Group expanded its portfolio by introducing notable venues such as LAVO Nightclub, Marquee Nightclub & Dayclub in Las Vegas, and Beauty & Essex.[10][11]
In 2017 Madison Square Garden Entertainment acquired a 62% controlling stake in Tao Group Hospitality. This partnership brought new opportunities and resources to strengthen Tao Group's presence and influence in the industry.[12]
Continuing its growth trajectory, Tao Group Hospitality made a strategic move in 2021 by acquiring Hakkasan Group, further expanding its reach and consolidating its position as a leading hospitality company in the market.[13]
In April 2023, Mohari Hospitality acquired a majority stake in Tao Group Hospitality for an impressive $550 million.[14][15][16]
Brand Portfolio
Tao Group Hospitality has a diverse brand portfolio of over 80 entertainment, dining, and nightlife locations in over 20 markets. The venues include owned venues, and properties managed for partners such as MGM Resorts International, Madison Square Garden, Dream Hotel Group, Caesars Entertainment, and Kerzner International.[17]
Several featured brand locations owned and managed by Tao include
- TAO Asian Bistro: A multi-level space designed to relax and indulge the senses, offering pan-Asian specialties in a distinctive atmosphere.
- Hakkasan: A world-class culinary experience that is known for its modern interpretation of authentic Chinese cuisine.
- OMNIA Nightclub: An interactive nightclub experience that combines opulence, classic design, and modern technology.
- Marquee Dayclub & Nightclub: Cutting-edge sound meets technology and design in these expansive multilevel nightclubs, attracting premier electronic performers.
- LAVO Restaurant & Nightclub: Indulge in hearty Italian-American cuisine or handcrafted cocktails at this sleek and contemporary venue, offering a vibrant nightlife experience.
- Yauatcha: A Chinese dim sum teahouse with an all-day grazing experience. It offers an authentic dim sum with a contemporary influence.
- Beauty & Essex: A hidden hideaway with a speakeasy entrance and upscale pawnshop ambiance.
- Ling Ling: Inspired by Japanese izakaya venues, Ling Ling offers a drinks-first approach with small plates of Chinese cuisine.
- Casa Calavera: A culinary and cantina concept with a relaxed open-air atmosphere and traditional Mexican calavera art. It combines authentic Mexican cooking techniques with contemporary twists.
In addition to the trademark venues, the company also offers a range of business services, including managed operations, franchised and licensed operations, white label development and operations, design development, pre-opening support, consultancy, procurement, global marketing reach, sponsorship and partnership procurement, and events and activations.
Brands, venues & locations
| Brands | Venues & Locations |
|---|---|
| TAO |
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| Hakkasan |
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| OMNIA |
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| Marquee |
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| LAVO |
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| Yauatcha |
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| Beauty & Essex |
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| Ling Ling |
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| Casa Calavera |
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| Moxy Lower East Side |
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| Cathédrale |
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| Egghead |
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| PHD |
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| The Fleur Room |
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| Others |
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Philanthropy
Tao Group Hospitality Cares serves as the philanthropic and charitable division of Tao Group Hospitality. It is dedicated to making a positive difference in the communities by supporting causes that are significant to both its team members and diverse group of guests. The organization collaborates with various charitable organizations, focusing on areas such as team member health and wellness, youth development, cancer research, and addressing food insecurity. Leveraging the company's brand name venues in global markets, Tao Group Hospitality Cares provides exclusive volunteer opportunities, allowing team members to contribute and give back to society.
In the media
References
- ↑ "Tao Group Hospitality - Products, Competitors, Financials, Employees, Headquarters Locations". www.cbinsights.com. Retrieved 2 June 2023.
- ↑ "Tao Group Hospitality Company Profile: Acquisition & Investors | PitchBook". pitchbook.com. Retrieved 2 June 2023.
- ↑ "tao-groups-hakkasan-acquisition-will-reverberate". lasvegasweekly.com. Retrieved 2 June 2023.
- ↑ Vora, Shivani. "Worldwise: Tao Group Hospitality Co-CEO Noah Tepperberg's Favorite Things". www.barrons.com. Retrieved 2 June 2023.
- ↑ "6 New Attractions At The Venetian Resort Las Vegas". Forbes Travel Guide Stories. 20 May 2022. Retrieved 2 June 2023.
- ↑ Brown, Evan Nicole (24 August 2022). "TAO Group's Fleur Room Is Hollywood's Newest Low-Key Hotspot". The Hollywood Reporter. Retrieved 2 June 2023.
- ↑ Donnelly, Matt (18 April 2023). "Tao Group, Creator of Nightlife and Dining for Glitterati, Sells to Mohari for $550 Million". Variety. Retrieved 2 June 2023.
- ↑ Puliti, Alisandra (1 August 2022). "9 Pool Parties in the U.S. Worth Checking Out". Swimsuit | SI.com. Retrieved 2 June 2023.
- ↑ "The History of Tao Group, as Told by Noah Tepperberg and Jason Strauss". Hospitality Design. Retrieved 2 June 2023.
- ↑ "l-a-to-vegas-bts-hits-the-grammys-stage-while-tao-beach-reopens". lamag.com/. Retrieved 2 June 2023.
- ↑ "Sphere Entertainment Co. Completes Sale of Its Majority Interest in Tao Group Hospitality". www.businesswire.com. 3 May 2023. Retrieved 2 June 2023.
- ↑ Apr. 28, Heather Lalley on. "Nightlife brand Tao Group acquires Hakkasan". Restaurant Business. Retrieved 2 June 2023.
- ↑ Sheckells, Melinda (28 April 2021). "Tao Group Acquires Hakkasan Group In Major Merger for Las Vegas Nightlife". Billboard. Retrieved 2 June 2023.
- ↑ "MOHARI HOSPITALITY FINALIZES ACQUISITION OF TAO GROUP HOSPITALITY". www.prnewswire.com. Retrieved 2 June 2023.
- ↑ Lieberman, David (1 February 2017). "MSG Pays $181M For Controlling Stake In Nightlife Company Tao Group". Deadline. Retrieved 2 June 2023.
- ↑ "Hakkasan owner Tao Group acquired by Mohari Hospitality". restaurantonline.co.uk. 18 April 2023. Retrieved 2 June 2023.
- ↑ "MSG Sells Tao Nightlife Group to PokerStars Billionaire's Investment Firm". Bloomberg.com. 17 April 2023. Retrieved 2 June 2023.