By Jenn Harris, LA Times
STK, the West Hollywood steakhouse known for frequent celebrity sightings, plans to close and reopen at the W Los Angeles-Westwood hotel this summer.
The restaurant was a fixture on La Cienega Boulevard’s restaurant row for the last six years.
The One Group, the company that owns STK, will also take over food and beverage operations for the entire W Los Angeles-Westwood hotel.
“This move will allow us to provide an even more memorable experience in a sleek and energetic space, with additional offerings, including cocktails and bites at the W’s Living Room,” said the One Group’s CEO, Jonathan Segal.
The company also plans on opening STK locations in Milan, Italy; Chicago; Orlando, Fla.; and an STK Rebel in Denver.
NEW YORK– The ONE Group Hospitality, Inc. (“The ONE Group”) (OTCQB:STKS) today announced that it has been featured by Crain’s New York Business as one of New York’s 50 fastest growing companies as part of Crain’s Fast 50.
Crain’s Fast 50 serves as a spotlight for the fastest growing and innovative companies in New York that have demonstrated revenue growth in excess of 150% over the past three years. With revenue growth of 204% generated over the past three years, The ONE Group is the only restaurant and hospitality company to be named to the list.
“It is truly an honor to be highlighted by Crain’s New York Business as a “Fast 50” company and I would like to thank the entire ONE Group team whose dedication and professionalism made this achievement possible,” said Jonathan Segal, CEO of The ONE Group.
Segal continued, “The ONE Group was founded with the vision of being a global leader in the hospitality industry by combining a vibrant and high energy ambiance with innovative and great cuisine to create a best in class dining experience for our guests. We remain excited about our robust pipeline of superior growth opportunities that we are building for many years to come.”
Based in the Meatpacking district of New York City, The ONE Group currently operates seven STKs throughout the United States and London, as well as fourteen additional venues operated under food and beverage hospitality management agreements.
About The ONE Group
The ONE Group develops and operates upscale, high-energy restaurants and lounges and provides ONE Hospitality, a turn-key food and beverage service for hospitality venues including hotels, casinos and other high-end locations both nationally and internationally. The ONE Group’s primary restaurant brand is STK. STK is a unique steakhouse concept with locations in major metropolitan cities throughout the U.S. and in London. STK artfully blends two concepts, the modern steakhouse and a chic lounge, into one offering a high-energy, fine dining experience with the superior quality of a traditional steakhouse. STK Rebel offers the same vibe-driven steakhouse with a slightly broader menu targeting both lunch and dinner guests at a more accessible price point. Additional information about The ONE Group can be found at www.togrp.com.
Don Duffy or Sheryl Freeman, 203-682-8200
Source: The ONE Group Hospitality, Inc.
Released October 15, 2014
NEW YORK–(BUSINESS WIRE)–
The ONE Group Hospitality, Inc. (“The ONE Group”) (STKS) today announced that it signed a hospitality services agreement with Pebblebrook Hotel Trust to provide food and beverage services at W Los Angeles – Westwood in Los Angeles, California, beginning in the fourth quarter of 2014. In addition to providing pool side restaurant and hospitality services at the hotel, the Company will open an STK restaurant in 2015.
“We are excited to announce our collaboration with Pebblebrook Hotel Trust, which marks a significant milestone for our Company. We are looking forward to leveraging our restaurant and hospitality expertise to bring guests at W Los Angeles the truly unique and cosmopolitan experience that they have come to expect from both us and the W Hotels brand. As an innovative luxury lifestyle brand, W Hotels combines a unique blend of cutting-edge design with glamorous entertainment experiences to provide renowned accommodations for the most contemporary and refined travellers, which we view as a synergistic fit with our core customer.” said Jonathan Segal, CEO of The ONE Group.
Segal continued, “This announcement follows our recent agreements with Meliá Hotels International for the new ME Miami, will include the operation of an STK Rebel, as well as the ME Milan Il Duca, both of which are scheduled to open in 2015. We are excited about the robust development pipeline that we are building for our Company and for our shareholders.”
About The ONE Group
The ONE Group develops and operates upscale, high-energy restaurants and lounges and provides ONE Group Hospitality, a turn-key food and beverage service for hospitality venues including boutique hotels, casinos and other high-end locations both nationally and internationally. The ONE Group’s primary restaurant brand is STK. STK is a unique steakhouse concept with locations in major metropolitan cities throughout the U.S. and in London. STK artfully blends two concepts, the modern steakhouse and a chic lounge, into one offering a high-energy, fine dining experience with the superior quality of a traditional steakhouse. STK Rebel offers the same vibe-driven steakhouse with a slightly broader menu targeting both lunch and dinner guests at a more accessible price point. Additional information about The ONE Group can be found atwww.togrp.com.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust (PEB) is a publicly traded real estate investment trust (“REIT”) organized to opportunistically acquire and invest primarily in upper upscale, full-service hotels located in urban markets in major gateway cities. The Company owns interests in 31 hotels, including 25 wholly owned hotels, with a total of 6,046 guest rooms, and a 49% joint venture interest in six hotels, with a total of 1,775 guest rooms. The Company owns, or has an ownership interest in, hotels located in ten states and the District of Columbia, including: Los Angeles, California (Hollywood, Santa Monica, West Hollywood and Westwood); San Diego, California; San Francisco, California; Miami, Florida; Buckhead, Georgia; Bethesda, Maryland; Boston, Massachusetts; Minneapolis, Minnesota; New York, New York; Portland, Oregon; Philadelphia, Pennsylvania; Columbia River Gorge, Washington; Seattle, Washington; and Washington, DC. For more information, please visit us at www.pebblebrookhotels.com and follow us on Twitter at @PebblebrookPEB.
Cautionary Statement on Forward-Looking Statements
This press release includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward looking statements, including but not limited to, (1) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, our ability to open new restaurants and food and beverage locations in current and additional markets, grow and manage growth profitably, maintain relationships with suppliers and obtain adequate supply of products and retain our key employees; (2) factors beyond our control that affect the number and timing of new restaurant openings, including weather conditions and factors under the control of landlords, contractors and regulatory and/or licensing authorities; (3) changes in applicable laws or regulations; (4) the possibility that The ONE Group may be adversely affected by other economic, business, and/or competitive factors; and (5) other risks and uncertainties indicated from time to time in our filings with the SEC, including our Annual Report on Form 10-K filed on April 1, 2014.
Investors are referred to the most recent reports filed with the SEC by The ONE Group Hospitality, Inc. Investors are cautioned not to place undue reliance upon any forward looking statements, which speak only as of the date made, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events, or otherwise.