WRE News: Tao Group Co-Owner Sells Shares for $550 million.

Miami, FL – April 18, 2023 – James Dolan has sold his majority shares in Tao Group for an impressive $550 million.

With more than twenty years of hospitality experience and over seventy branded locations across five continents, Tao Group Hospitality is known for their impressive culinary and entertainment experiences, with a world-renowned collection that includes Tao, Marquee, LAVO, Hakkasan, Cathédrale and Beauty & Essex, to name a few.

Tao founders Marc Packer, Rich Wolf, Noah Tepperberg, and Jason Strauss are keeping their stakes in the business. Tao Group announced earlier this year a Miami partnership with Groot Hospitality to open an expansive Italian concept, Casadonna, in Miami’s Edgewater.

Dolan, the owner of Madison Square Garden Entertainment has agreed to sell his 67% stake in Tao to to PokerStars co-founder Mark Scheinberg, who currently owns the realty-focused investment firm Mohari Hospitality.