The ONE Group Hospitality, Inc. (Nasdaq:STKS) yesterday announced that the Company has signed a licensing agreement with Grupo Restaurantero Dinar (GRD), which will allow GRD to open four locations in Mexico.
“Our expansion into Mexico is an exciting step as we continue to grow our brand internationally. We are delighted to be partnering with Grupo Restaurantero Dinar as we enter this new market,” said Manny Hilario, CEO, The ONE Group. “Similar to our previous licensing deals, these locations will require no capital contribution while driving high-margin revenue, the driving force behind our growth plans.”
“We are very excited about our licensing partnership with The ONE Group. The first STK in Mexico is expected to open in Mexico City, at Presidente Masaryk Avenue (Tennyson 117), in the heart of the city’s dining and entertainment district on Polanco alongside some of the best commercial and retail tenants in Mexico City. A second STK is planned in Guadalajara at Andares Lifestyle Center located in the city’s Zapopan District. Both are expected to open in late 2018. The third and fourth restaurants are anticipated to open in Monterrey and Cabo,” said Guillermo Arciniega, from Grupo Restaurantero Dinar.
STK Mexico City is expected to have indoor and terrace seating for 175 guests, whilst STK Guadalajara will seat 150 between the restaurant and the terrace. Both restaurants will feature STK's classic menu and signature dishes along with the brand’s signature décor.
The ONE Group (NASDAQ:STKS) 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.
Grupo Restaurantero Dinar is hospitality and development business that currently has 13 company-owned restaurants and night clubs. GRD also manages more than 15 restaurants through management agreements.
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