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De Niro's Nobu Brand Aims for $1 Billion in Sales With Sushi-Condo-Hotel Mix

  • Nobu brings its first luxury condo-hotel-restaurant to Toronto
  • Company is shooting for 10 mixed-use developments in a decade
Bloomberg business news
De Niro Says Running a Hotel Is Like Making a Movie
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Nobu Hospitality LLC, the sushi restaurant and luxury hotel chain founded by Robert De Niro, chef Nobu Matsuhisa and movie producer Meir Teper, expects to reach $1 billion in revenue in five years as it adds condos to its growing empire.

A key step in the company’s growth was its first foray into the condo market, with 660 units and 36 luxury-hotel suites atop a Nobu restaurant in Toronto. The project, announced last year, sold out in three months. After starting with one sushi restaurant in New York in 1994, the company now has more than 40 locations, including London and Las Vegas, said Trevor Horwell, chief executive officer of closely held Nobu Hospitality.