Founder and Principal at Mohari Hospitality
It would be fitting if a luxury hospitality real estate venture founded by a billionaire who made his fortune in online poker was a bit flashy. But Mark Scheinberg, the Israeli-Canadian businessman behind both PokerStars and Mohari Hospitality, has shown shrewd foresight, making big, bold and lucrative bets as the hotel and hospitality sectors continue to spring back.
His projects and investment this past year have offered new ways to look at established locations. In Washington, D.C., Mohari announced a partnership on the first Four Seasons Residences in the nation’s capital, a joint venture to bring ultra-
luxury living designed by architect Sir David Adjaye to Georgetown. Scheinberg also led a $35 million funding round in Mint House, a rapidly expanding, tech-enabled long-stay hotel concept.
And, just this spring, Mohari picked up the Tao Group from MSG Entertainment’s James Dolan for $550 million, acquiring 80 hospitality and restaurant assets such as LAVO, as well as future consulting roles at iconic locations such as Madison Square Garden and the Sphere in Las Vegas.
Mohari has also positioned itself to ride the upswing that has reshaped South Florida, opening a slew of Miami-area restaurants and investing in The Waldorf Astoria Hotel & Residences Miami, which broke ground last fall. When complete, the boxy high-rise will reach 1,049 feet above Biscayne Bay, becoming the tallest residential tower south of New York City.
Scheinberg also shored up his existing portfolio. A $191 million refinancing of a joint-venture project with Gencom in Costa Rica — a collection of upscale resorts like the Four Seasons Costa Rica on the Pacific Ocean-side Peninsula Papagayo — will help expand a Central American foothold. Additions include a new Ritz-Carlton Reserve, set to open in late 2024, featuring branded villas and estate homes that are already nearly sold out.
A partnership with European investment group Omnam, which already has luxury hotel projects in Rotterdam, Puglia and Florence in the pipeline, suggests this is merely the opening round.