The ONE Group Announces Partnership with APICII for Hospitality Development Efforts
NEW YORK-- The ONE Group, a wholly-owned subsidiary of Committed Capital Acquisition Corporation (“The ONE Group”) (OTCQB:STKS), announced today it has exclusively partnered with APICII as its hospitality development partner. This is part of The ONE Group’s continued effort to drive growth in its hospitality business. Under the partnership, APICII will be identifying and evaluating food and beverage management opportunities in Hospitality developments both nationally and internationally.
This announcement comes on the heels of the company's appointment of John Inserra, former Executive Vice President, Restaurant Operations, Concepts and Development for Kimpton Hotels and Restaurant Group, as COO of The ONE Group. Mr. Inserra brings more than 25 years of food and beverage operations experience and successful leadership to his new position.
"Our hospitality business is a key element of our long term growth plan and we are excited about the opportunities ahead for this area of our business,” commented Jonathan Segal, CEO of the ONE group. "We believe that APICII is the ideal partner to assist us in continuing to identify opportunities worldwide for our food and beverage offering in hospitality developments. Our restaurant brands are recognized as best in class and our hospitality offering parallels that by providing a superior dining experience to match top notch hospitality brands around the globe."
"We are thrilled to partner with The ONE Group to leverage their dynamic brands and their proven track record at activating lifestyle venues and strong operating standards to grow in the hospitality segment,” commented Tom Dillon, co-founder of APICII.
The current ONE Group’s hospitality portfolio includes: The ME Hotel, The Hippodrome, The Cosmopolitan, The Gansevoort Park, and The Perry Hotel. The Perry Hotel in Miami is temporarily closed and undergoing a renovation. The hotel is expected to reopen under the new rebranded name, 1 Hotel and Homes Southbeach, within the fourth quarter of 2014. Looking forward, the ONE Group plans to launch at least one hospitality contract every 12-18 months.
About The ONE Group
The ONE Group develops and operates upscale, high-energy restaurants and lounges and provides “ONExperience”, a turn-key food and beverage service for hospitality venues including boutique hotels, casinos and other high-end locations in the United States and United Kingdom. The ONE Group’s primary restaurant brand is STK®, which 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. The ONE Group’s food and beverage hospitality services business provides the development, management and operations for premier restaurants and turn-key food and beverage services at high-end boutique hotels and casinos. Additional information about The ONE Group can be found at www.togrp.com.
APICII offers senior level development, financial and operational experience and provides strategic counsel to owners, investors, operators and chefs in the food, beverage and entertainment industries. Founded by a team of hospitality experts who have developed and managed some of the most highly sought-after food and beverage venues in the world. The APICII team has collectively signed over 100 lease, management and licensing deals and owned or operated more than 200 F&B venues with combined revenues in excess of $500 million. Our reach is global, with projects spanning from New York to Los Angeles and gateway cities internationally.
Source: The ONE Group
Released May 28, 2014