2nd December 2021: Mohari Hospitality, the global investment company founded by entrepreneurial investor Mark Scheinberg, today announces it has taken a significant minority stake in luxury restaurant business, Riviera Dining Group (RDG), to support the development of new concepts and to fund its ambitious expansion plans. This investment marks the first time Mohari has invested directly in the Food & Beverage (F&B) space.
Envisioned by Gregory and Marine Galy through their travels, experiences and thirst for discovery and adventures, the first MILA restaurant (part of RDG) opened in South Beach, FL, in January 2020. MILA is a restaurant, rooftop lounge and mixology bar aiming to transport diners on a culinary journey of flavorful MediterrAsian cuisine. Balancing genuine hospitality, fine dining, and refined nightlife, MILA has quickly established itself as the go-to destination in the upscale Miami social scene.
MILA has grown above and beyond all forecasts and expectations in its first two years despite facing significant pandemic-related restrictions. Following the success of the original restaurant, and supported by new investment from Mohari Hospitality, RDG plans to expand to new concepts and locations, focusing initially on the Florida market, which has showed the quickest development rates and is anticipating some of the best economic growth worldwide. Mohari will bring its extensive experience in the luxury hospitality sector and F&B to support RDG during its next phase of growth.
Mark Scheinberg, Founder of Mohari Hospitality, said: “In less than two years, MILA has become the go-to destination in the Miami social scene and has huge growth potential both in Florida and beyond. We are excited to bring our expertise in the luxury hospitality market and F&B to this impressive team, to support their ambitious expansion plans and development of new concepts. RDG represents an exciting new chapter for Mohari in the luxury food, beverage and entertainment sector.”
Gregory Galy, Founder and CEO of Riviera Dining Group, added: “We could not be more pleased and excited about welcoming Mohari Hospitality as a partner and investor. They will help to drive our growth at a more rapid pace and on a larger scale than we could have anticipated. Their experience, network and successful business vision united with ours promises some thrilling future prospects and adventures for RDG.”
RDG’s exciting new concepts include:
- AVA MediterrAegean – a modern Greek Agora opening early 2022 in Winter Park, FL, in a landmark building successfully operated by Luma restaurant. AVA MediterrAegean is a celebration of splendor, freedom, escapism, and joy, where genuine hospitality, delectable food and vibrant settings combine to entertain the senses, bringing an unparalleled lively experience to Winter Park.
- V by MILA – set to open around March 2022, V by MILA (pronounced ‘Five by MILA’) is a 7,900 sq ft venue located below the original MILA restaurant. V by MILA encompasses an omakase dining experience, a members-only salon and mixology bar, and a large lounge area with a DJ, all designed to offer guests a multi-sensory experience based on the five senses.
- CASA NEOS – planned to open in late 2022, CASA NEOS is a unique and paradisiacal modern Mediterranean agora located on the Miami River in Brickell. This brand-new 30,000 total sq ft destination will include LA PLAGE, a members-only beach club, an open-air modern Mediterranean restaurant, boutique hotel featuring five rooms and a rooftop lounge called NOOR, offering a unique MediterrAfrican culinary and lifestyle experience.
- MM – RDG is also developing MM, a lifestyle membership club offering a network of luxury experiences among RDG venues, with members-only private areas and exclusive benefits.
Supported by the investment and expertise of Mohari Hospitality, RDG is now actively exploring other national markets such as New York City, Los Angeles and Las Vegas, as well as further afield in London, Dubai and Mexico City for potential expansion opportunities.
Ends
Media Inquiries
Mohari Hospitality via Sanctuary Counsel – mohari@sanctuarycounsel.com
RDG via Marine Galy – marine@milarestaurant.com
ABOUT MOHARI HOSPITALITY: Mohari Hospitality, founded in 2017 by entrepreneurial investor Mark Scheinberg, is a global investment company that engages in a broad range of real estate investment activities, with emphasis on luxury hospitality in prime urban and resort markets. Mohari’s investments include equity and debt in both development and operating assets and Mohari invests both independently and with partners. Mohari’s existing investments include Peninsula Papagayo, a 2,200-acre sustainable master development, located in Costa Rica’s Guanacaste province and anchored by a Four Seasons luxury resort; 1 Hotel Toronto, a luxury and sustainable boutique hotel and retreat in downtown Toronto; The Ritz-Carlton Yacht Collection, a new ultra-luxury cruise line launching in 2022; Centro Canalejas, a group of seven adjoining historical buildings in the center of Madrid, featuring the first Four Seasons branded hotel in Spain; and the 205 room Waldorf Astoria, Miami which is to be the tallest tower south of Manhattan and is currently in pre-development residential sales. Mohari seeks to protect the cultural heritage and natural environments of all areas related to its projects and is committed to identifying and contributing to philanthropic projects in each location where it does business. Additional information can be found at moharihospitality.com
