The ONE Group Hospitality, Inc. Provides Revenue Guidance for the Fourth Quarter and Revises Revenue Guidance for the Full Year Ended December 31, 2019
January 10, 2020 at 03:50 am IST
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The ONE Group Hospitality, Inc. provided revenue guidance for the fourth quarter and revises revenue guidance for the full year ended December 31, 2019. Total GAAP revenues are expected to be approximately $52 million, an approximate increase of 102% from $25.8 million for the same quarter last year; Comparable sales* at owned and managed STK Restaurants rose 8.9% from the same quarter last year.
Total GAAP revenues are expected to be approximately $120.5 million, an approximate 41% increase from $85.6 million for 2018. On November 7, 2019, the Company had reiterated previous guidance of total GAAP revenues between $118 million and $120 million.
The ONE Group Hospitality, Inc. is an international restaurant company, which develops and operates upscale and polished casual, high-energy restaurants and lounges and provides hospitality management services for hotels, casinos, and other high-end venues. Its primary restaurant brands and operations are STK, an American steakhouse concept with restaurants in various metropolitan cities in the United States, Europe, and the Middle East, featuring steaks, seafood, and specialty cocktails; Benihana, an operator of highly differentiated experiential brands that owns the national teppanyaki brand in the United States; Kona Grill, a polished casual, bar-centric grill concept with restaurants in the United States; RA Sushi, a Japanese cuisine concept, and ONE Hospitality, its food and beverage hospitality services business that develops, manages, and operates restaurants and turnkey food and beverage services within high-end hotels and casinos operating in the United States and Europe.
The ONE Group Hospitality, Inc. Provides Revenue Guidance for the Fourth Quarter and Revises Revenue Guidance for the Full Year Ended December 31, 2019
THE ONE GROUP HOSPITALITY, INC. 
