Seaport Entertainment Group Provides Corporate Update
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Entered into an interim license agreement and long-term lease with
Tulum based Grupo Gitano to open its first permanent, year-roundNew York dining and nightlife experience, GITANO NYC, in 13,605 square feet at Pier 17. - Hired and onboarded employees of Creative Culinary Management Company LLC (“CCMC”), an indirect wholly owned subsidiary of Jean-Georges Restaurants, and entered into a shared services agreement with CCMC as the Company’s initial step to internalize food and beverage operations at most of its wholly owned and joint venture-owned restaurants at the Seaport.
“We are thrilled to introduce Grupo Gitano’s highly anticipated, exclusive-to-
“We are also excited to take a significant step forward in our journey to internalize food and beverage operations across many of our restaurants at the Seaport,” continued Mr. Nikodemus. “By hiring the CCMC hospitality team and collaborating with our partners at Jean-Georges Restaurants, we are establishing a strong foundation to streamline operations, enhance scalability, and drive efficiency. This strategic initiative positions us to strengthen our hospitality offerings and achieve sustainable, long-term growth through greater operational control.”
About Seaport Entertainment Group
Seaport Entertainment Group (NYSE American: SEG) is a premier entertainment and hospitality company formed to own, operate, and develop a unique collection of assets positioned at the intersection of entertainment and real estate. Seaport Entertainment Group’s focus is to deliver unparalleled experiences through a combination of restaurant, entertainment, sports, retail and hospitality offerings integrated into one-of-a-kind real estate that redefine entertainment and hospitality. For more information, please visit www.seaportentertainment.com.
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This press release includes forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements include, but are not limited to, statements concerning the Company’s plans, goals, objectives, outlook, expectations, and intentions. Forward-looking statements are based on the Company’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause the Company’s results to differ materially from current expectations include, but are not limited to: risks related to our recent separation from, and relationship with, Howard Hughes; risks related to macroeconomic conditions; changes in discretionary consumer spending patterns or consumer tastes or preferences; risks associated with the Company’s investments in real estate assets and trends in the real estate industry; the Company’s ability to obtain operating and development capital on favorable terms, or at all; the availability of debt and equity capital; the Company’s ability to renew its leases or re-lease available space; the Company’s ability to compete effectively; the Company’s ability to successfully identify, acquire, develop, and manage properties on terms that are favorable to it; the impact of uncertainty around, and disruptions to, the Company’s supply chain; risks related to the concentration of the Company’s properties in
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Source: Seaport Entertainment Group Inc.