A Las Vegas hospitality firm has acquired a majority stake of West Hollywood hospitality firm H.Wood Group.
H.Wood announced Wednesday that Hakkasan Group is the company’s new majority owner. Founders John Terzian and Brian Toll will continue to run the company.
H.Wood owns nightlife venues including Bootsy Bellows, which has locations in West Hollywood and Aspen, Colo., Hooray Henrys in West Hollywood and Shore Bar in Pacific Palisades.
Hakkasan is owned by Abu Dhabi investment firm Tasameem Real Estate and operates a chain of namesake restaurants, as well as nightclubs such as Pure in Las Vegas.
Hakkasan will invest capital to help H.Wood continue to grow.
“We look forward to providing capital resources to the H.Wood Group as they pursue significant growth both in L.A. and beyond,” Nick McCabe, president of Hakkasan Group, said in a statement.