A first in Canada: the famous food and cultural market is set to open in late 2019 in the Centre Eaton de Montréal
LONDON and MONTRÉAL, May 30, 2018 /CNW Telbec/ - A new hotspot for foodies and culture lovers is coming to Montréal: Time Out Market is set to open in late 2019 in the Centre Eaton de Montréal, on Sainte-Catherine Street in the heart of downtown Montréal.
Time Out Market Montréal will bring the best of the city together under one roof: its best restaurants, bars and cultural experiences, based on editorial curation. Visitors will get to taste food from the city's top chefs and best restaurateurs, sip cocktails from leading mixologists, and experience culture with Montréal's rising talents.
Time Out Market is part of Time Out Group, the global media and entertainment business. The Group has signed its first management agreement with global real estate leader Ivanhoé Cambridge to open Time Out Market in Montréal, the first in Canada.
Occupying 36,000 ft2 (more than 3,300 m2), Time Out Market Montréal will include a curated mix of 16 food offerings, two bars, a demo kitchen, a cooking academy, a retail shop and a cultural stage—all representing the very best Montréal has to offer.
With its location at the heart of the city on Sainte-Catherine Street, Time Out Market will be the centrepiece of a C$200M redevelopment project at Centre Eaton de Montréal, a landmark downtown destination with an annual footfall in excess of 30 million visitors. Centre Eaton de Montréal is owned and managed by Ivanhoé Cambridge, which is currently investing more than C$1B in revitalizing this part of downtown.
Time Out Market Montréal is following the wildly successful culinary phenomenon Time Out Market Lisbon, which opened in 2014 to offer the very best of Lisbon with 26 restaurants, six kiosks, eight bars and cafés, five shops as well as a cooking academy. With 3.6 million visitors in 2017, Time Out Market Lisbon is the country's most popular attraction thanks to the high-quality fine dining and cultural experiences it makes available and accessible to all. In March 2018, it received an international award recognizing it as one of the most visionary concepts in the European food service sector.
Building on the success of the Company's flagship market in Lisbon, Time Out Market is set to open in New York and Miami at the end of 2018, to be followed by Boston, Chicago and Montréal in 2019.
With a focus on supporting local businesses, a close connection with the city is at the heart of the Time Out Market philosophy. As with its existing location in Lisbon, it is expected that the Montréal site will bring significant employment and broader benefits to the area.
Didier Souillat, CEO of Time Out Market, commented:
"Montréal has developed into a culinary hotspot and is now one of the world's foodie capitals. This is a city with incredibly creative chefs and an audience with a love for great food. As if this wasn't enough, Montréal also has a buzzing cultural scene with over 100 festivals each year. All of this makes this city a perfect spot for Time Out Market and we look forward to opening our first site in Canada.
"Time Out Market continues to be a great success story and is now recognized as one of the most visionary formats: our first site in Lisbon is Portugal's most visited attraction, we have an exciting pipeline of new sites and for our upcoming opening in Miami we have all kitchens signed up with the city's 'who's who' of the most celebrated chefs. We are proud to have been chosen by our partner Ivanhoé Cambridge to now also bring our unique Time Out Market experience to the great city of Montréal."
Julio Bruno, CEO of Time Out Group plc, stated:
"We are delighted to announce our first management agreement for Time Out Market. It allows us to accelerate our global expansion, grow our brand and drive additional revenue. The fact that Ivanhoé Cambridge chose us as strategic partner and will make a significant investment to bring Time Out Market to Montréal is proof of the strength of the format and the brand."
Claude Sirois, President, Retail, at Ivanhoé Cambridge, added:
"We are absolutely thrilled to be collaborating with Time Out Market and to bring this incredibly successful format to Montréal. Our discerning clientele is always looking for fresh, new and innovative experiences that define the urban character of our properties nestled at the heart of downtown Montréal. Time Out Market Montréal will be the masterpiece of the Centre Eaton de Montréal's transformation and will help redefine the urban leisure experience downtown."
Time Out Market is a business division of Time Out Group plc (AIM: TMO), the global media and entertainment business with a presence in 108 cities in 39 countries and an average global monthly audience reach of 217 million. Timeout.com's worldwide reach includes a massive online presence, mobile applications, social media channels, city magazines, guides, Live Events and more.
To view/use the artistic renderings of the project (please credit Ivanhoé Cambridge) or to view/use the Time Out Market Lisbon video (please credit Time Out Market): LINK
Notes to editors
About Time Out Group plc
Time Out Group is the leading global media and entertainment business with a content distribution network comprising digital, mobile, apps, social media and print and a physical presence via Live Events and Time Out Market. Using these platforms and its well-established global brand, Time Out seeks to inspire and enable people to make the most of a city, through curated content around food, drink, music, theatre, art, travel and entertainment. Time Out, listed on AIM and headquartered in the United Kingdom, is present in 108 cities in 39 countries and has an average global monthly audience reach of 217 million.
About Ivanhoé Cambridge
Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a long-term view to generate optimal, risk-adjusted returns. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.
Vertically integrated in Canada, Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,000 buildings, primarily in the residential, office, retail, industrial and logistics sectors. Ivanhoé Cambridge held more than C$60 billion in assets as at December 31, 2017, and is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada's leading institutional fund managers. For more information: ivanhoecambridge.com.
SOURCE Ivanhoé Cambridge
Time Out Market, [email protected]; Ivanhoé Cambridge, [email protected]
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