More cities, more hotels
The Hakkasan Group has acquired Las Vegas nightlife and entertainment company Angel Management Group. Angel manages venues such as Hakkasan at the MGM Grand, Pure Nightclub at Caesars Palace, Wet Republic Ultra Pool at the MGM Grand, and the Social House at the Shops at Crystals. It also runs HQ Beach Club and HQ Nightclub at Revel in Atlantic City.
The acquisition, according to a news release, will “provide Hakkasan Group with significant day-to-day operational capability and infrastructure, which will enable it to further expand its brand and hospitality operations in North America.”
Hakkasan is in an acquisitive mood. Recently it bought Enlightened Hospitality Group, the parent company of San Diego nightclub Stingaree and a group of restaurants owned by TV chef Brian Malarkey.
Neil Moffitt, founder and CEO of Angel Management Group and current CEO of Hakkasan Group and HKK Hospitality Limited, has been charged with leading the company into new markets. Moffitt will also help develop the company’s hotel arm. In 2012, Hakkasan selected AMG to develop the Hakkasan Las Vegas, which opened a year later. Since then, the two companies have opened Hakkasan Beverly Hills and acquired the Herringbone at Mondrian Los Angeles. Hakkasan Shanghai will open in early 2014.
“Following a successful partnership with Angel Management Group, we believe the consolidation of its businesses will accelerate Hakkasan’s goal of creating a suite of multifaceted global lifestyle brands. AMG has a proven track record of success in venue operation and marketing, and has established high-performing venues and experiences that appeal to guests and generate strong revenues,” said Khadem Al Qubaisi, chairman of Hakkasan Group.
Nick McCabe, former vice president of strategy for AMG, will become the president of Hakkasan Group, and will be responsible for day-to-day operations.