The ONE Group Signs Hospitality Services Agreement for ME Milan Il Duca
Agreement Includes a Second European STK Restaurant
NEW YORK-- The ONE Group Hospitality, Inc. (“The ONE Group”) (OTCQB:STKS) today announced that it signed a hospitality services agreement with Meliá Hotels International for the operation of an STK, a rooftop bar and food/beverage services at the new ME Milan Il Duca hotel.
Gabriel Escarrer, CEO and Vice Chairman of Meliá Hotels International, said, “We look forward to working with The ONE Group to continue to build on our successful relationship. The economic and industrial capital of Italy has been awaiting a hotel such as this. The ME by Meliá brand provides revered hotels for modern and discerning travellers, combining business and pleasure with authentic lifestyle experiences. Each ME Hotel is unique because of its design, its energy and its power to become a social epicentre. ME Milan will undoubtedly make a mark in the hotel, culinary and leisure offerings of the city.”
“We are very excited about this fantastic opportunity as this further builds our relationship with the Meliá Group and the ME by Meliá brand. We’ve successfully launched an STK and other food and beverage services at the ME London and we look forward to working with the Meliá organization to bring their guests a modern and high energy experience in Milan,” said Jonathan Segal, CEO of The ONE Group.
Meliá Hotels International, a leading hotel company, is launching its cutting edge, lifestyle brand ME by Meliá in Milan in 2015. ME by Meliá specializes in modern and high energy hotels at the heart of the most cosmopolitan cities in the world and will open its Milan doors near the famous “fashion quadrilateral” at the Piazza della Repubblica. The hotel will be close to the Corso Como, one of the chicest areas of the city.
The new ME Milan Il Duca, which will be housed in a building by renowned architect Aldo Rossi, will be completely renovated to the style of the late architect. It will have 132 rooms, including 34 suites - amongst which will be the signature penthouse “Suite ME” - Lounge-Bar and an STK restaurant, and ultra-modern conference rooms. The rooftop bar, another hallmark of ME Hotels, will be an impressive 6,000 square feet in size and will boast panoramic views over the city, showing off sights including the Garibaldi towers. It will be the first ME Hotel in Italy, where Meliá already manages successful hotels including Gran Meliá Rome, Meliá Villa Capri and Meliá Genoa.
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.
About Meliá Hotels International
Founded in 1956 in Palma de Mallorca (Spain), Meliá Hotels International is one of the largest hotel companies worldwide as well as the absolute leader within the Spanish market. At present, it operates and distributes more than 365 hotels throughout 40 countries and 4 continents under the brands: Gran Meliá, Meliá Hotels & Resorts, Paradisus Resorts, ME by Meliá, Innside by Meliá, Tryp by Wyndham and Sol Hotels. The strategic focus on international growth has allowed Meliá Hotels International to be the first Spanish hotel company with presence in key markets such as China, the Arabian Gulf or the US, as well as maintaining its leadership in traditional markets such as Europe, Latin America or the Caribbean. Its high degree of globalization, a diversified business model, the consistent growth plan supported by strategic alliances with major investors and its commitment to responsible tourism are the major strengths of Meliá Hotels International, being the Spanish Hotel leader in Corporate Reputation (Merco 2013).
About ME by Meliá
ME by Meliá is a contemporary interpretation of the Meliá experience. It is a brand which seeks to fuse innovative style with local flavours in order to captivate travelers of a common psychographic – those with a decisive taste for cutting-edge art and design, international cuisine and world music – rather than a common demographic. By capturing these elements in urban and resort destinations, this new philosophy appeals to each guests senses and emotions. There are currently ME Hotels in London, Madrid, Cancun and Cabo with ME Mallorca and ME Ibiza launching summer 2014, ME Milan IlDuca in 2015 and ME Dubai in 2016. www.me-by-melia.com.
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.
Investor:
ICR
Don Duffy or Fitzhugh Taylor, 203-682-8200
Source: The ONE Group
Released June 26, 2014
