The ONE Group Announces STK Orlando Coming to Disney Springs
New Restaurant Projected to Open in 2015
NEW YORK, Dec. 17, 2014 /PRNewswire/ -- The ONE Group Hospitality, Inc. ("The ONE Group") (OTCQB: STKS), known for developing upscale, high-energy restaurants, today announced plans to open a STK in Disney Springs at the Walt Disney World Resort in Lake Buena Vista, Florida. STK Orlando is expected to open in The Landing at Disney Springs in 2015, with the full completion of Disney Springs expected in 2016.
The new STK will be located within the waterfront setting of The Landing at Disney Springs, a completely re-imagined shopping, dining and entertainment complex that will double the number of shops and restaurants currently found at Downtown Disney. The Landing is the first phase of Disney Springs and will be home to unique and memorable dining experiences such as STK, Morimoto Asia and The BOATHOUSE, plus a number of still-to-be-announced innovative restaurants and boutique shops.
STK's unique ambiance blends the elements of a modern steakhouse with a sleek lounge, including a DJ, emphasizing a social, fun environment. At approximately 14,000 square feet, the Orlando outpost will be one of the largest STK locations. STK Orlando will have two dining floors—including a main level and the only rooftop dining venue in Disney Springs.
"We are thrilled to join the Disney Springs family with the launch of STK Orlando," said Jonathan Segal, CEO of The ONE Group. "The combination of an innovative menu and high-energy atmosphere has driven the success of STK, and we believe it will be an ideal addition to Disney Springs, and will help further cement its status as a place for friends and family to gather for fine dining and entertainment."
Segal added, "Our entrance into the Orlando market represents another example of our continued growth strategy. We remain on track with our expansion plans for 2015 and hope to continue to partner with exciting world-class brands like Walt Disney Parks and Resorts moving forward."
"STK Orlando is a welcome new addition to Disney Springs," said George A. Kalogridis, president, Walt Disney World Resort. "With its innovative, high-energy atmosphere, STK is the perfect complement to our growing array of dining, entertainment and shopping offerings."
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.
About Disney Springs
Representing the largest expansion in Downtown Disney history, Disney Springs will be a one-of-a-kind Disney experience, treating guests by day and night to great dining, shopping and entertainment amid beautiful open-air promenades, flowing springs and waterfront charm. With an air of sophisticated grace and design that harkens to Florida's waterfront towns at the turn-of-the-century, Disney Springs will be home to four distinct, outdoor neighborhoods opening in phases: The Landing, Town Center, Marketplace and West Side. The Landing, as the first of the four neighborhoods and home to unique and memorable dining, is scheduled to open in spring 2015. When fully completed in 2016, Disney Springs will double the number of shopping, dining and entertainment venues – from the current 70 to approximately 150.
Disney Springs is part of the Walt Disney World Resort, the number one family vacation destination in the world, located in Lake Buena Vista, Florida.
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.
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SOURCE The ONE Group Hospitality, Inc.
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