https://adgully.me/post/3245/uaes-ethara-and-us-based-ovg-form-jv-for-middle-east-expansion

UAE's Ethara and US-based OVG form JV for Middle East expansion

Ethara, a company based in the UAE specializing in event management, and Oak View Group (OVG), a US-based arena developer, have unveiled a collaborative endeavor. This partnership marks OVG's expansion into the Middle East and aims to revolutionize the live entertainment and hospitality industries within the region.This announcement comes on the heels of OVG's acquisition of Rhubarb Hospitality Collection (RHC), a prominent British venue caterer. The joint venture will involve close cooperation between RHC and Ethara, with the objective of enhancing the fan experience by providing top-notch food, beverage, and hospitality services at live entertainment venues throughout the Middle East, including the UAE, Bahrain, Oman, Qatar, and Saudi Arabia.Ethara is renowned for organizing events such as the Formula 1 Etihad Airways Abu Dhabi Grand Prix, Yasalam After-Race Concerts, and managing various venues in the UAE, including the Etihad Arena, Etihad Park, Yas Marina Circuit, and Yas Conference Centre.Meanwhile, OVG currently operates nine major arenas in North America and Europe, with some already open and others in development under its OVG 360 brand. This brand oversees the company's venue management operations, serving over 300 arenas, stadiums, and convention centers worldwide.The live events industry in the Middle East and Africa is poised for substantial growth, with projections indicating it could reach $76.67 billion by 2028. This growth is expected to be driven by a estimated compound annual growth rate (CAGR) of 6.1% from 2021 to 2028, as reported by Research and Markets.