Mohari Hospitality to acquire Tao Group Hospitality from Madison Square Garden for $550m.

Mohari Hospitality, an investment firm focused on the luxury lifestyle, agreed to acquire Tao Group Hospitality, a company specializing in restaurants, nightlife, and entertainment, from Madison Square Garden, an entertainment holding company, for $550m. "Tao Group has grown from an innovator in nightlife to a leader in premium lifestyle and hospitality. Its global footprint of more than 80 branded locations in over 20 markets and best-in-class management infrastructure speaks to the Group's tremendous potential. We look forward to working with Noah Tepperberg, Jason Strauss and the rest of the dynamic management team to continue growing Tao Group's business," J. Allen Smith, Mohari Managing Partner.