Peterson Launches Cultivate Hospitality Group
Real estate development and hospitality veteran Peter Peterson has announced the launch of Cultivate Hospitality Group, a Los Angeles-based full-service F&B ideation, consulting, and management company created to pair real estate and property owners with restaurant and entertainment concepts.
"Providing a one-stop shop for unique food and beverage and real estate development opportunities, Cultivate offers a full menu of capabilities that can be tailored through à la carte options including custom concept creation and master planning, development oversight, public relations/marketing strategies, asset management, market analysis, and more," the announcement states. "With food and beverage taking center stage as a key driver in the world of real estate, the Cultivate team's deep relationships and more than 60-years combined experience in both signature culinary ideation and real estate development brings a unique, never-before-seen expertise to the marketplace."
"Curated culinary programming has proven to be the secret sauce in driving successful development," said Peter Peterson, president and managing partner of Cultivate and former VP of Related Urban Development, which led F&B programming for mixed-use projects such as New York City's 17 million-square-foot Hudson Yards and 2.8 million-square-foot Time Warner Center, as well as the Restaurant Collection at The Cosmopolitan Las Vegas. "We have specialized expertise in fostering connections between hospitality and real estate and curating concepts that maximize value, whether it's a hotel that could be revitalized with a timeless restaurant, or an office space that needs a creative food and beverage concept to appeal to trend-seeking entrepreneurs."
Upon launch, the announcement states, Cultivate has been engaged to support the following high-profile projects across the United States:
- Shoreline Hotel, Mountain View: Cultivate has been retained as the exclusive advisor to solicit food and beverage operators to lease the 7,000-square-foot F&B spaces at the Shoreline Hotel, a 200-room, four-star boutique hotel that Cultivate states is positioned as one of Silicon Valley’s top-performing hotels alongside the Four Seasons and the Rosewood. Projected to be complete April 2019, The Shoreline Hotel will be 10 minutes walking distance from Google’s new Charleston East campus housing over 2,700 employees.
- Marriott Mission Bay, San Francisco: Cultivate is providing concepting and operator search services for the 250-room Marriott Mission Bay, set to become the city's first four-star new-build hotel in over a decade. The project is scheduled to open in Spring 2021.
- Flower Mart, San Francisco: Kilroy Realty Corp has enlisted Cultivate to assist in the master planning and redevelopment of San Francisco's 2.3-million-square-foot Flower Mart project, the city's largest mixed-use project since the development of Embarcadero Center. Phase one is to be unveiled in 2021 with project completion scheduled for 2023.
- The Grand, Los Angeles: Cultivate will conceptualize the F&B master plan for the Frank Gehry-designed The Grand in downtown Los Angeles, developed by Related. Once complete in 2021, the development will include more than 209,000 square feet of retail space to include a movie theater, 314-room Equinox Hotel, 436 residential units and a F&B offering consisting of approximately a dozen restaurant spaces.