Neuehouse Madison Square Source: Convene Hospitality Group
Convene Hospitality
Group, the parent company of hospitality brand Convene, has acquired
members club and co-working brand NeueHouse for an undisclosed sum following the latter’s
Chapter 7 bankruptcy filing in September.
According to the terms
of the court-approved Asset Purchase Agreement, CHG has acquired both the
intellectual property of NeueHouse and the operations of its Madison Square
venue in New York, which spans eight floors and features multiple meetings and
events spaces.
CHG told BTN it
intends to retain and further develop the NeueHouse brand within its portfolio,
which also includes Convene—an operator of premium event venues and flexible
office spaces across the U.S. and U.K.—and etc.venues, an offsite venue network for small meetings.
“We’ve long been fans of the NeueHouse brand and wanted to preserve and
nurture the incredible community it has cultivated,” said CHG CEO Ryan Simonetti. “CHG has been operating the NeueHouse Madison Square location for the
past few months… As CHG now takes
full ownership of the brand, we are inspired by the opportunity to build upon
this legacy.”
In a statement, the
company said it does not plan to reopen NeueHouse’s former Los Angeles
locations in Hollywood and Venice Beach, which closed during the bankruptcy
process.