Time Out Group opens new market location in Montreal
By Josh White
Date: Thursday 14 Nov 2019
(Sharecast News) - Media and leisure company Time Out Group announced the opening of Time Out Market Montréal on Thursday.
The AIM-traded company said the venue, spanning 40,000 square feet, would offer food from 16 of the city's best chefs and restaurateurs, three bars, a demonstration kitchen, a cooking school, a retail area and what it calls "cultural experiences".
It said Time Out Market Montréal was forming the centrepiece of Centre Eaton de Montréal on Sainte-Catherine Street, a downtown destination owned and managed by estate leader Ivanhoé Cambridge, with which the company entered its first management agreement to open this location.
The first Time Out Market opened in 2014 in Lisbon, and the firm said the food and cultural market was now Portugal's most popular attraction.
Following that success, three new Time Out Markets opened in North America in 2019 in Miami and New York in May, as well as in Boston in June.
In the first six months of 2019, Time Out Market saw 2.1 million visitors across the four locations, and 72% growth in net revenue to £6.6m.
"Time Out Market Montréal is the fourth site to open this year and the first in Canada," the board said in its statement.
"This opening coincides with the publication of the inaugural Time Out Montréal magazine which follows an increase in digital content across timeout.com/montreal dedicated to the curation of the best things to do in this city."
The company said the global roll out of the successful Time Out Market format was set to continue, with locations opening in Chicago on 21 November, Dubai in 2020, London Waterloo in 2021, and Prague in 2022.
At 1127 GMT, shares in Time Out Group were up 2.17% at 129.75p.
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