Launch of STK Rebel Represents Next Phase of Company’s Growth Platform
Restaurant Projected to Open in 2015
NEW YORK–(BUSINESS WIRE)–
The ONE Group Hospitality, Inc. (“The ONE Group”) (STKS) today announced that it has completed an agreement to open an STK Rebel in Denver. STK Rebel maintains the unique features, vibe and energy of STK, with a menu and price point targeted to a broader national and international market. The venue is expected to open in 2015.
The new STK Rebel will be located at 16th and Market in the heart of the popular LODO district of Denver. The restaurant is situated in a brand new mixed use building developed by Integrated Properties, Inc.
“The launch of STK Rebel is a milestone for The ONE Group, and we are thrilled to be bringing this concept to the Denver market,” said Jonathan Segal, CEO of The ONE Group. “STK Rebel reflects an expansion of our STK brand that will provide a more accessibly priced option for guests across the country, while offering the same innovative culinary features, energy and vibe dining experience that has driven the success of STK. We are extremely excited for the STK brand to become part of the Denver community.”
“The ONE Group has been built on a foundation of innovation and reinvention – and STK Rebel is the next step in this evolution,” Segal continued. “Our development pipeline is tracking at the pace we have been communicating to the investment community since we went public, and STK Rebel will be a key element of our growth strategy moving forward as we expand our presence both in the US and abroad. We look forward to sharing more updates soon.”
The ONE Group will host a conference call to discuss third quarter 2014 financial results on Thursday, November 13, 2014 at 5:00 PM Eastern Time. Hosting the call will be Jonathan Segal, Chief Executive Officer, and Sam Goldfinger, Chief Financial Officer. A press release containing the third quarter 2014 financial results will be issued after market close Thursday, November 13, 2014.
The conference call can be accessed live over the phone by dialing 877-407-3982 or for international callers by dialing 201-493-6780. A replay will be available after the call and can be accessed by dialing 877-870-5176 or for international callers by dialing 858-384-5517; the passcode is 13593354. The replay will be available until December 13, 2014.
About The ONE Group
The ONE Group is a global hospitality company that develops and operates upscale, high-energy restaurants and lounges and provides hospitality management services for hotels, casinos and other high-end venues both nationally and internationally. The ONE Group’s primary restaurant brand is STK®, a modern twist on the American steakhouse concept with locations in major metropolitan cities throughout the U.S. and in London. STK Rebel SM, a more accessibly priced STK ® with a broader menu, is an extension of the STK ® brand. The ONE Group’s food and beverage hospitality services business, ONE Hospitality SM, provides the development, management and operations for premier restaurants and turn-key food and beverage services within high-end hotels and casinos. Additional information about The ONE Group can be found at www.togrp.com.
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.
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