Time Out Group plc New Time Out Market - New York City (1443J)
March 28 2018 - 1:00AM
UK Regulatory
TIDMTMO
RNS Number : 1443J
Time Out Group plc
28 March 2018
28 March 2018
Time Out Group plc
("Time Out", the "Company" or the "Group")
Announces new Time Out Market in New York City
Time Out Group plc (AIM: TMO), the global media and
entertainment business, is pleased to announce that it has signed a
conditional lease agreement for a new Time Out Market in New
York.
Located at 55 Water Street, Empire Stores in Brooklyn's Dumbo
neighbourhood, Time Out Market New York is expected to open in Q4
2018. Built between 1869 and 1885 as a coffee storehouse, the
historic Empire Stores have retained their original brick and
timber features; recently redeveloped, they have been transformed
into a highly desirable retail, office and commercial space. With
its unique waterfront position right by the East River, between
Brooklyn Bridge and Manhattan Bridge, Time Out Market New York will
be at the heart of an increasingly popular area for locals and
visitors.
Time Out Market New York will occupy 21,000 sq ft over two
distinctive floors of Empire Stores, accommodating around 520 seats
indoors and outdoors. There will be a curated mix of 20 food
offerings, three bars, a stage for cultural activities and
exhibition space - all representing the very best of New York. The
Time Out Market rooftop on the fifth floor will offer impressive
views of the East River, the two iconic bridges and Manhattan's
skyline.
Time Out Market brings the best of the city together under one
roof: its best restaurants, bars and cultural experiences, based on
Time Out's editorial curation. The first Time Out Market opened in
2014 in Lisbon and saw 3.6 million visitors in 2017. This month, it
received an international award recognising Time Out Market Lisbon
as one of the most visionary concepts in the European food service
sector.
The Group is now rolling out Time Out Market globally with new
sites set to open in Miami in Q4 2018 and in Boston and Chicago in
2019.
The lease agreement for Time Out Market New York is conditional
on obtaining a license approval and building permits.
Julio Bruno, CEO of Time Out Group plc, stated:
"New York has been home to Time Out since 1995, and millions of
people - locals and visitors - use our website and read our
magazine to make the most of the city. Now we have a breathtaking
location for Time Out Market in New York. It will offer not only
the city's best food, drinks and culture, but also one of the
city's best views.
"Time Out Market has proven to be a real success story and that
is why we have an exciting pipeline for new Time Out Market
openings in some of the world's most amazing cities. I have lived
and worked in New York City for many years and today I feel very
proud that we are bringing this unique experience to this
city."
Didier Souillat, CEO of Time Out Market, commented:
"With Time Out Market we are bringing something new and unique
to New York. It is a culinary and cultural experience that can't be
found anywhere else, based on editorial curation. It will be
located in a space full of character, history and authenticity.
"There aren't many cities in the world that offer such an
incredible food scene and cultural life like New York - our
experienced team of editors will select and invite the city's best
to make Time Out Market a must-see destination in this vibrant
neighbourhood."
For further information, please contact:
Time Out Group plc Tel: +44 (0)207 813 3000
Julio Bruno, CEO
Steven Tredget, Investor Relations Director
Liberum Capital Limited (Nominated Adviser Tel: +44 (0)203 100 2222
and Broker)
Steve Pearce / Jill Li
FTI Consulting LLP Tel: +44 (0)203 727 1000
Edward Bridges / Stephanie Ellis / Emma
Hall
Notes to editors
About Time Out Group plc
Time Out Group is the leading global media and entertainment
business with a content distribution network comprising digital,
mobile, apps, social media and print and a physical presence via
Live Events and Time Out Market. Using these platforms and its
well-established global brand, Time Out seeks to inspire and enable
people to make the most of a city, through curated content around
food, drink, music, theatre, art, travel and entertainment. Time
Out, listed on AIM and headquartered in the United Kingdom, is
present in 108 cities in 39 countries and has an average global
monthly audience reach of 217 million.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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