Mohari Hospitality, an investment firm specializing in the luxury lifestyle and hospitality sectors, has announced the acquisition of Tao Group Hospitality from Madison Square Garden Entertainment Corp. and other limited partners for $550 million. The transaction is expected to close in May 2021.
J Allen Smith, Managing Partner of Mohari commented: “Tao Group has grown from being an innovator in nightlife to a leader in premium lifestyle and hospitality with global locations across 20 markets worldwide as well as best-in-class management infrastructure that speaks volumes about its tremendous potential.”
This deal adds to Mohari’s portfolio of luxury properties including Peninsula Papagayo (Costa Rica), Centro Canalejas Madrid (Spain) and The Ritz Carlton Yacht Collection while also providing access to Tao Groups’ collection of brands such as TAO, Michelin Star awarded Hakkasan, OMNIA Marquee LAVO Beauty & Essex among others.
