LOS ANGELES (CelebrityAccess) – Live Nation Entertainment has today (Oct. 21) announced it has acquired a majority stake in David Grutman’s Groot Hospitality.
Groot Hospitality’s portfolio includes top dining, entertainment and hospitality brands known for “high-energy, high-impact environments that deliver the ultimate elevated experience for guests”. The company’s footprint currently includes LIV (2009), Story (2012), Komodo (2015), Swan & Bar Bevy with Pharrell Williams (2018) and Papi Steak (2019) and is set to expand with 11 new projects in Miami, Las Vegas, Dallas & Dubai slated to open in the next 24 months.
“Entertainment is the DNA of Groot Hospitality, so it was a natural fit for us to join the leading live entertainment company,” said Grutman. “Live Nation shares my passion for creating once in a lifetime experiences and together we will grow our portfolio worldwide while pushing the limits of fans’ expectations.”
Live Nation will tap into Grutman’s expertise to elevate and launch offerings across Live Nation’s venues, festivals and events.
David Grutman will remain CEO of Groot Hospitality along with executives Chris Cuomo and Mo Garcia.