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Abu Dhabi Royal Eyes LA Nightlife Empire

10 Sep

Summary

Sheikh Tahnoon is acquiring high-profile L.A. hospitality venues.
DIAFA, an Abu Dhabi firm, is facilitating these significant investments.
A $700 million offer for Sunset Tower and San Vicente was rejected.

Abu Dhabi's Sheikh Tahnoon bin Zayed Al Nahyan is making significant inroads into Los Angeles' elite hospitality sector. His investment company, DIAFA, affiliated with Abu Dhabi's IHC empire, has acquired majority stakes in The h.wood Group, which includes popular spots like Delilah and The Bird Streets Club. This move follows DIAFA's acquisition of a majority stake in British restaurateur Richard Caring's hospitality group.

Sheikh Tahnoon, who also holds powerful positions within the UAE government and chairs the Abu Dhabi Investment Authority, recently made a substantial offer of $700 million for the Sunset Tower Hotel and Jeff Klein's San Vicente clubs. However, the offer was reportedly declined by Klein, who sought to preserve the exclusivity of his establishments. This decision means some of L.A.'s sought-after venues remain outside the sheikh's expanding portfolio for now.

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