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The ONE Group Hospitality, Inc. (symbol: STKS) is a distinguished player in the hospitality industry, renowned for its development and operation of upscale, high-energy restaurants and lounges. The company is also known for its premier food and beverage service, ONE Hospitality, which delivers turn-key solutions for luxurious venues, including hotels, casinos, and other high-end locations, both domestically and internationally.
The flagship brand of The ONE Group is STK, a unique concept that seamlessly merges a modern steakhouse with a chic lounge. STK offers a dynamic, fine dining experience characterized by high-quality food and a vibrant, social atmosphere. Each STK venue features a DJ to create a high-energy environment, encouraging guests to interact and mingle, thus redefining the contemporary dining experience. STK aims to offer exceptional food, world-class service, and the perfect ambiance all in one place.
In addition to STK, the company's portfolio includes STK Rebel and Kona Grill. STK Rebel provides a similar vibe-driven steakhouse experience with a slightly broader appeal, while Kona Grill offers an extensive menu of contemporary American favorites, sushi, and specialty cocktails.
The ONE Group Hospitality operates through four segments: STK, Kona Grill, ONE Hospitality, and Corporate. The company generates most of its revenue from the domestic market, leveraging its renowned brands and exceptional service to maintain a significant presence in the hospitality sector.
Recent achievements and current projects highlight the company's continued growth and expansion. These include new restaurant openings, innovative dining concepts, and strategic partnerships that enhance its market position. Financially, The ONE Group Hospitality demonstrates a solid performance, reflecting its commitment to quality and customer satisfaction.
Stay updated with the latest news and developments about The ONE Group Hospitality, Inc. to learn more about its performance, events, and new initiatives shaping the future of dining experiences.
The ONE Group Hospitality, Inc. reported a 3.0% revenue growth in Q1 2024, completed the acquisition of Safflower Holdings Corp., owner of Benihana Inc., and updated 2024 targets post-acquisition. Despite a 7.9% decrease in comparable sales, total GAAP revenues reached $85.0 million, with a net loss of $2.1 million. Adjusted EBITDA decreased 3.6% to $10.5 million. The company plans to open new venues, initiated a $5 million share repurchase program, and aims for $950 million in annual run-rate revenues by 2024-end.
The ONE Group Hospitality, Inc. (STKS) has rescheduled its 2024 Annual Meeting of Stockholders from May 22 to May 21, 2024. The meeting will be held at STK Denver, Colorado. The change aims to better accommodate stakeholders.
The ONE Group Hospitality, Inc. has completed the acquisition of Safflower Holdings Corp., the owner of Benihana, for $365 million in cash. The acquisition aims to provide growth opportunities and diversify The ONE Group's portfolio of experiential VIBE restaurant concepts. The company looks forward to the new chapter with nearly 6,500 new Benihana teammates on board.
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