Grutman will stay on as CEO of Groot Hospitality, along with executives Chris Cuomo and Mo Garcia. The best of MBW, plus the most important music biz stories on the web. Live Nation Purchases a Majority Stake in Groot Hospitality "Entertainment is the DNA of Groot Hospitality, so it was a natural fit for us to join the leading live entertainment company," says Grutman. It was everything to me. Operated at the time by Eric Omores, a once revered figure in the Miami nightlife scene and later a founding partner of Nikki Beach Global, Grutman became obsessive in his pursuit to join his ranks. Top sports agent Rich Paul joins Live Nation Board of Directors, Live Nation acquires Hong Kong-based festival promoter Clockenflap, Is Live Nation the largest financial supporter of artists? Tencent acquires U-Live stake with UMG buy-in | IQ Magazine At the time, he had the best network in the world. Its footprint currently includes LIV, Story, Komodo, Swan & Bar Bevy with Pharrell Williams, and Papi Steak. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. Whats great is that it embraces Miami Beach as more of an urban city and not just a beach town. Live Nation will tap into Grutman's expertise toelevate and launch offerings across Live Nation's venues, festivals and events. We respect that. As ChatGPT sets the internet aflame, will AI write the lyrics of tomorrows hits. For Miami residents and revellers alike, Grutman is the mayor just dont call him that. RTTNews.com for Accueil; Solution; Tarif; PRO; Mon compte; France; Accueil; Solution; Tarif; PRO; Mon compte I wanted to create an ecosystem for myself. David Grutman will remain as CEO of Groot Hospitality. Pursuant to the acquisition, Grutman will remain CEO of Groot Hospitality along with executives Chris Cuomo and Mo Garcia. Live Nation Acquires David Grutman's Groot Hospitality Seems like there might be a spot for Beckham in Brady's new team, the Tampa Bay Buccaneers, yet Now, Grutman is ready to set his sights beyond Miami, with new projects slated to debut this year in Dallas, Las Vegas and even further afield, in Qatar. Think of it like Disney World: every single thing, every piece of square footage has a team that plans it out to give you that wow factor. I don't buy chips, keeps me from doing things like that. And we keep it like new. From there, I went to work for Burt Rapoport and Dennis Max. Groot Hospitality's portfolio includes. I produce the sound in a room, he produces the energy thats in the room and, for him, everything needs to be perfect the food, the ambience, the style and thats what I do with music. I was hosting dinners for 20, 30, 50 people every night, and all the tables were being booked by people who wanted to use it as a corralling place before moving over to LIV or Story. Nearby, Turnberry was this amazing golf country club community that was also owned by the Soffers. Live Nation Entertainment has acquired a majority stake in David Grutman's Groot Hospitality. It may sound like small potatoes, but in October 2019 51 per cent of Groot Hospitality was acquired by Live Nation at a then valuation of $50 million, as it is, indeed, a proven formula of bottles . Groot Hospitality's portfolio includes top dining, entertainment and hospitality brands. Thats where the Chili Pepper was, Bash, all the hot clubs. Hospitality mogul David Grutman sells Miami Beach home for $8M The Restaurant Technology Network brings technology solution providers and restaurants together to solve industry challenges. This suggests a possible upside of 50.9% from the stock's current price. David Grutmanwill remain as CEO of Groot Hospitality along with executivesChris CuomoandMo Garcia. 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. Sign up to stay informed about our latest awards and events. I took it. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Why is now the right time to expand? Login Get news highlights delivered directly to your e-mail inbox. Market Intelligence How did your time running the Miami Marketing Group prepare you for its continued success? 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