The ONE Group Plans to Open Eight New STK Restaurants
The ONE Group Hospitality, Inc. announced its financial results for the fourth quarter and full year ended December 31.
Highlights were as follows:
The fourth quarter marked the seventh consecutive quarter of double-digit revenue growth. Owned unit net revenues increased 42.6 percent to $16.8 million. Total GAAP revenue increased 29.2 percent to $18.6 million. Total food and beverage sales at owned and managed units increased 16.3 percent to $41.7 million. Management and incentive fee revenues were $1.8 million for the quarter.
Jonathan Segal, CEO of The ONE Group, says, “Looking back on 2015, we are pleased with the performance of…