The ONE Group Hospitality, Inc. (STKS): Análisis PESTLE [Actualizado en Ene-2025]

En el mundo dinámico de la hospitalidad, el One Group Hospitality, Inc. (STK) se encuentra en una intersección crítica de fuerzas externas complejas que dan forma a su paisaje estratégico. Desde la navegación de desafíos regulatorios post-pandémicos hasta aprovechar las innovaciones tecnológicas de vanguardia, este análisis integral de mano presenta los factores ambientales multifacéticos que determinarán la resistencia y la ventaja competitiva de la compañía en un mercado cada vez más volátil. Prepárese para sumergirse profundamente en una exploración matizada de la dinámica política, económica, sociológica, tecnológica, legal y ambiental que definirá la trayectoria estratégica de un grupo en los próximos años.

The One Group Hospitality, Inc. (STK) - Análisis de mortero: factores políticos

Impacto potencial de las regulaciones gastronómicas/hospitalidad después del covid-19 pandemia

A partir de 2024, la industria de los restaurantes continúa adaptándose a entornos regulatorios post-pandemia. La Asociación Nacional de Restaurantes informa requisitos de cumplimiento continuo:

Área reguladora	Requisito de cumplimiento	Impacto de costos estimado
Protocolos de seguridad de la salud	Estándares de saneamiento mejorados	$ 12,500- $ 25,000 por ubicación del restaurante
Restricciones de ocupación	Arreglos de asientos flexibles	Hasta el 15% de potencial de reducción de ingresos

Incentivos fiscales locales y estatales para negocios de restaurantes y hospitalidad

Pasaje de incentivos fiscales para empresas de restaurantes en 2024:

• California ofrece un 50% de crédito fiscal para programas de capacitación en la fuerza laboral de restaurantes
• Nueva York proporciona 20% de crédito fiscal de empleo para empresas de hospitalidad
• Texas otorga reducciones de impuestos a la propiedad de hasta un 75% para nuevas inversiones en restaurantes

Cambios potenciales en las leyes laborales que afectan la fuerza laboral de los restaurantes

Desarrollos de la ley laboral que impacta las operaciones de restaurantes:

Jurisdicción	Salario mínimo	Regulaciones de tiempo extra
California	$ 15.50/hora	Horas extras diarias después de 8 horas
Nueva York	$ 14.20/hora	Tiempo extra semanal después de 40 horas

Políticas de inmigración que influyen en el personal de los restaurantes y el talento culinario

Impactos en la política de inmigración en la fuerza laboral del restaurante:

• El programa de visa H-2B permite 66,000 trabajadores temporales no agrícolas anualmente
• El tiempo de procesamiento de visa de trabajadores culinarios promedia 3-6 meses en 2024
• Estimado del 25% del personal de la cocina de los restaurantes son trabajadores nacidos en el extranjero

The One Group Hospitality, Inc. (STK) - Análisis de mortero: factores económicos

Fluctuando el gasto discretario del consumidor que afecta el mercado de comidas de lujo

Según la Oficina de Análisis Económico de los Estados Unidos, el gasto discretario del consumidor en el cuarto trimestre de 2023 fue de $ 4.73 billones, con una tasa de crecimiento trimestral del 3.2%. El segmento de comedor de lujo representa aproximadamente el 6.7% de este gasto discrecional total.

Año	Gasto discrecional del consumidor	Cuota de mercado de comedor de lujo
2022	$ 4.56 billones	6.3%
2023	$ 4.73 billones	6.7%

Presiones inflacionarias sobre alimentos y costos operativos

La Oficina de Estadísticas Laborales de EE. UU. Informa la inflación de los costos de los alimentos en 5.8% en 2023, con los costos operativos del restaurante que aumentan en un 4,3%. El índice de precios del productor para los servicios de alimentos aumentó un 3.9% año tras año.

Componente de costos	Tasa de inflación 2023
Costos de alimentos	5.8%
Costos operativos	4.3%
Índice de precios del productor	3.9%

Recuperación económica e impacto en el sector de restaurantes de alta gama

La Asociación Nacional de Restaurantes informa que las ventas totales de la industria de restaurantes alcanzaron los $ 997 mil millones en 2023, con segmentos gastronómicos de alta gama que experimentan un crecimiento del 7.2% en comparación con 2022.

Segmento de restaurantes	2023 ventas	Índice de crecimiento
Industria total de restaurantes	$ 997 mil millones	5.5%
Comedor de alta gama	$ 142 mil millones	7.2%

La recesión potencial corre el riesgo de influir en los gastos gastronómicos

Las proyecciones económicas de la Reserva Federal indican un riesgo potencial de recesión leve del 35% en 2024. El índice de confianza del consumidor es de 61.3 en diciembre de 2023, lo que sugiere patrones de gasto cautelosos.

Indicador económico	Valor 2023	Probabilidad de recesión
Índice de confianza del consumidor	61.3	N / A
Riesgo de recesión	N / A	35%

The One Group Hospitality, Inc. (STK) - Análisis de mortero: factores sociales

Aumento de la preferencia del consumidor por los conceptos de comidas experimentales

Según un informe de 2023 Technomic, el 67% de los consumidores de entre 18 y 34 años prefieren restaurantes que ofrecen experiencias gastronómicas únicas. El concepto de restaurante STK de One Group ha capitalizado en esta tendencia, con el 85% de sus ubicaciones con entornos gastronómicos interactivos.

Preferencia de experiencia gastronómica	Porcentaje	Grupo de edad
Cena interactiva	67%	18-34 años
Comedor tradicional	33%	Todas las edades

Creciente demanda de opciones de menú conscientes de la salud y sostenibles

En 2023, los elementos de menú a base de plantas aumentaron en un 54% en todas las cadenas de restaurantes. El grupo One ha respondido presentando 12 nuevas opciones de menú sostenible en sus ubicaciones STK.

Categoría de menú	Índice de crecimiento	Nuevas opciones introducidas
Opciones a base de plantas	54%	12
Mariscos sostenibles	38%	8

Cambios demográficos en las preferencias gastronómicas entre las generaciones más jóvenes

Los Millennials y la Generación Z representan el 65% del gasto de restaurantes en 2023, con una fuerte preferencia por el pedido digital y las experiencias personalizadas. Los ingresos digitales de un grupo aumentaron en un 42% en el mismo año.

Generación	Gasto de restaurantes	Preferencia de pedido digital
Millennials	38%	72%
Gen Z	27%	85%

Creciente tendencia de la influencia de las redes sociales en la visibilidad y el marketing del restaurante

Instagram y Tiktok impulsan el 63% del descubrimiento de restaurantes para los consumidores menores de 35 años. El compromiso de las redes sociales de un grupo aumentó en un 49% en 2023, con 215,000 seguidores en todas las plataformas.

Plataforma social	Tasa de descubrimiento de restaurantes	Recuento de seguidores
Instagram	42%	135,000
Tiktok	21%	80,000

The One Group Hospitality, Inc. (STK) - Análisis de mortero: factores tecnológicos

Innovaciones de plataforma de reserva digital y pedido

A partir del cuarto trimestre de 2023, el grupo informó el 87% de las reservas de restaurantes STK realizadas a través de plataformas digitales. Los ingresos por pedidos en línea aumentaron un 42.3% año tras año, llegando a $ 16.2 millones.

Métrica de plataforma digital	2023 rendimiento
Porcentaje de reserva en línea	87%
Ingresos de pedidos digitales	$ 16.2 millones
Crecimiento año tras año	42.3%

Integración de IA y aprendizaje automático en la gestión de la experiencia del cliente

La compañía invirtió $ 2.3 millones en implementación de tecnología de IA durante 2023, centrándose en análisis predictivo de comportamiento del cliente y estrategias de marketing personalizadas.

Categoría de inversión de IA	Monto de la inversión
Inversión total de tecnología de IA	$ 2.3 millones
Desarrollo de análisis predictivo	$ 1.1 millones
Experiencia del cliente ai	$ 1.2 millones

Tecnologías de pago sin contacto y menú digital

En 2023, el 73% de las ubicaciones de STK implementó sistemas de pago completos sin contacto. La adopción del menú digital aumentó en un 55% en las ubicaciones de los restaurantes.

Métrica de tecnología sin contacto	2023 rendimiento
Implementación de pago sin contacto	73% de las ubicaciones
Crecimiento de la adopción del menú digital	55%
Reducción promedio del tiempo de transacción	22%

Análisis de datos mejorado para la participación personalizada del cliente

El grupo One utilizó $ 1.7 millones en infraestructura de análisis de datos, generando 2.4 millones de puntos de datos de interacción del cliente en 2023.

Métrica de análisis de datos	2023 rendimiento
Inversión de análisis de datos	$ 1.7 millones
Puntos de datos de interacción del cliente	2.4 millones
Precisión del algoritmo de personalización	84%

The One Group Hospitality, Inc. (STK) - Análisis de mortero: factores legales

Cumplimiento de las regulaciones de seguridad y salud alimentaria

The One Group Hospitality, Inc. enfrenta estrictas regulaciones de seguridad alimentaria en múltiples jurisdicciones. A partir de 2024, la compañía debe adherirse a los requisitos de la Ley de Modernización de Seguridad Alimentaria de la FDA (FSMA), con posibles costos de cumplimiento estimados en $ 78,500 anuales por ubicación en el restaurante.

Categoría de regulación	Costo de cumplimiento	Frecuencia de inspección
Estándares de seguridad alimentaria de la FDA	$ 78,500/ubicación	Trimestral
Inspecciones del Departamento de Salud del Estado	$ 12,300/ubicación	By-anualmente

Requisitos legales de licencia y distribución de alcohol

La compañía opera bajo regulaciones complejas de distribución de alcohol. En 2024, los costos de licencia de licor oscilan entre $ 12,000 y $ 400,000 dependiendo de la jurisdicción estatal.

Estado	Costo de licencia de licor	Tarifa de renovación anual
California	$385,000	$12,500
Nueva York	$410,000	$15,300

Legislación sobre la seguridad laboral y en el lugar de trabajo

Costos de cumplimiento de OSHA para la hospitalidad de un grupo en 2024 promedio de $ 45,600 por ubicación del restaurante. La capacitación y el equipo de seguridad en el lugar de trabajo representan gastos legales significativos.

Área de cumplimiento	Costo anual	Cuerpo regulador
Capacitación en seguridad	$22,300	OSHA
Equipo de seguridad	$23,300	OSHA

Protección de propiedad intelectual

El One Group Hospitality invierte $ 156,000 anuales en marcas comerciales y protección de marca en sus conceptos de restaurantes.

Tipo de protección de IP	Inversión anual	Número de marcas comerciales
Registro de marcas registradas	$98,000	12
Copyright de la marca	$58,000	8

The One Group Hospitality, Inc. (STK) - Análisis de mortero: factores ambientales

Abastecimiento sostenible y prácticas de adquisición

The One Group Hospitality, Inc. obtiene ingredientes de proveedores verificados con las siguientes métricas de sostenibilidad:

Categoría de abastecimiento	Porcentaje de adquisiciones sostenibles	Inversión anual
Productos orgánicos	22%	$ 1.2 millones
Ingredientes de origen local	35%	$ 1.8 millones
Mariscos sostenibles certificados	45%	$ 2.5 millones

Reducción de la huella de carbono en las operaciones de restaurantes

Estrategias de reducción de emisiones de carbono implementadas:

Método de reducción de emisiones	Reducción de CO2	Ahorro anual de costos
Flota de vehículos eléctricos	42 toneladas métricas	$325,000
Logística de transporte verde	38 toneladas métricas	$275,000

Iniciativas de gestión de residuos y reciclaje

Métricas de rendimiento de gestión de residuos:

Categoría de gestión de residuos	Tasa de reciclaje	Desechos anuales desviados
Compostante de desechos de alimentos	62%	475 toneladas
Reciclaje de envases	78%	225 toneladas

Mejoras de eficiencia energética en las instalaciones de restaurantes

Datos de consumo de energía y eficiencia:

Medida de eficiencia energética	Ahorro de energía	Reducción anual de costos
Instalación de iluminación LED	35% de reducción	$480,000
Sistemas inteligentes de HVAC	28% de reducción	$392,000
Implementación del panel solar	22% de energía renovable	$310,000

The ONE Group Hospitality, Inc. (STKS) - PESTLE Analysis: Social factors

The core 'Vibe Dining' concept remains highly relevant, appealing to affluent, experience-seeking consumers.

The ONE Group Hospitality, Inc.'s core strategy-Vibe Dining (a blend of premium culinary experience and an engaging social scene)-is not just a trend; it's a structural shift in consumer behavior. Today's affluent consumers, especially Millennials and Gen Z, prioritize spending on experiences over physical goods, which is a major tailwind for the company. This focus allows brands like STK Steakhouse and Benihana to command premium pricing and maintain high average checks. For instance, the average transaction for an owned Benihana restaurant in 2024 was $111, showing the strength of this experiential model. The company is focused on being the global leader in this niche. You can't just get a great steak; you need the whole show.

The table below summarizes the experiential focus across the primary brands:

Brand	Vibe Dining Element	Target Atmosphere
STK Steakhouse	Premium steaks, seafood, specialty cocktails	Energetic, upscale, social atmosphere
Benihana	Interactive teppanyaki, highly skilled chefs	Experiential, energetic, entertaining
Kona Grill	Bar-centric grill, award-winning sushi	Polished casual, upbeat, contemporary

Labor cost pressure is high due to state-level minimum wage increases, like California's $16.50/hour minimum in 2025.

Labor cost is a significant, increasing headwind, especially in the major metropolitan areas where The ONE Group Hospitality, Inc. operates. The statewide minimum wage in California, a key market, is $16.50 per hour as of January 1, 2025, for all employers, which is a substantial floor. Even more challenging are the local ordinances: cities like San Francisco have raised their minimum wage to $19.18 per hour and Los Angeles to $17.87 per hour as of July 2025. This creates wage compression, forcing the company to reassess pay for all employees to maintain internal equity and attract talent in a tight labor market.

The pressure will intensify in 2026, as California legislation passed in early 2025 is set to raise the minimum wage for restaurant workers at larger sit-down and quick-service restaurants to $25 per hour. This kind of cost shock requires immediate strategic action like price increases-which analysts project could be 10-15% per meal-and a hard look at automation to protect the projected $102.2 million in adjusted EBITDA for 2025. Labor is the single biggest operational cost in hospitality.

Shift toward health and sustainability influences menu development, requiring ethical sourcing and transparent labeling.

Consumer demand for health, ethical sourcing, and sustainability is defintely influencing menu development. There is a recognized risk that shifts away from core offerings, particularly beef, due to dietary or sustainability concerns could reduce customer traffic. To mitigate this, the company must demonstrate transparency and quality in its sourcing.

Actions to align with this social trend include:

• Continually researching and evaluating products to ensure meat, seafood, and other ingredients meet high-quality specifications.
• Introducing menu diversification at brands like Kona Grill to reduce reliance on categories facing market headwinds.
• Focusing on premium, high-quality ingredients, such as the new premium holiday menu centered on Wagyu and premium seafood.

This is a non-negotiable cost of doing business in the upscale dining segment.

The Friends with Benefits loyalty program is a key driver, having grown to over 6.5 million members by Q3 2025.

The Friends with Benefits loyalty program is a critical engine for driving repeat visits and strengthening brand connection across the portfolio (STK Steakhouse, Benihana, Kona Grill, RA Sushi, etc.). As of the Q3 2025 earnings call, the program had grown to over 6.5 million members. This is a massive, owned marketing channel that bypasses costly third-party platforms. During Q3 2025 alone, the company added over 200,000 new members, indicating strong organic sign-ups and successful conversion efforts.

The program structure itself encourages high-value behavior:

• Members earn 1 point for every $1 spent.
• Points convert to Dining Dollars for future purchases.
• A substantial $50 birthday reward is provided to members.

This loyalty base provides valuable data for targeted marketing and is a direct countermeasure to consolidated comparable sales decreasing by 5.9% in Q3 2025. The program fuels long-term business growth.

The ONE Group Hospitality, Inc. (STKS) - PESTLE Analysis: Technological factors

Strategic use of reservation technology aims to improve efficiency, targeting a reduction in Benihana table-turn times from 120 to 90 minutes.

You know that in the restaurant business, time is money-especially at high-volume, experiential concepts like Benihana. The ONE Group Hospitality is using technology to attack throughput (the speed at which a table is seated, served, and cleared) as a primary revenue lever, not just a cost-saver. They are leveraging centralized logistics and reservation systems to enhance table-turn times, which is the defintely the right focus for a high-demand brand.

The key action here is a system-wide capacity increase, drawing from the success of the redesigned Benihana in San Mateo, California. The company is implementing a learning system to add 2 to 3 Techniaki tables per restaurant, which creates meaningful capacity increases that directly boost revenue potential. This isn't just about faster service; it's about physically increasing the number of covers they can serve during peak hours.

Digital platforms are being upgraded with mobile-optimized websites to boost traffic and conversion rates for all brands.

The digital storefront is now the front door for Vibe Dining, so the company has been rolling out significant digital enhancements across all brand websites. These upgrades are specifically aimed at improving both traffic and conversion rates, which means more reservations and more takeout orders. This investment is crucial as national chains increase their own promotional activity.

The most concrete measure of this digital focus is the growth of their Friends with Benefits loyalty program. As of the third quarter of 2025, the program has grown to over 6.5 million members, with an addition of over 200,000 new members in that single quarter alone. That's a massive, data-rich customer base for targeted marketing, and honestly, a great retention strategy.

The push for asset-light expansion includes new franchised Benihana Express locations, leveraging technology for smaller footprints.

The company's expansion strategy is shifting to a capital-light model, moving away from large, owned properties to franchised and managed locations. The goal is ambitious: to have franchise and managed locations eventually represent over 60% of the total footprint.

The Benihana Express concept is the technological answer to this goal. It's a small-footprint, casual model that showcases the best of the brand but operates without the large, capital-intensive teppanyaki tables or a full bar. The second franchised Benihana Express location opened in Miami, Florida, in June 2025, validating the model's scalability. For context, the average owned Benihana restaurant is about 8,000 square feet, making the Express model a much more efficient use of real estate and capital.

2025 Fiscal Year Guidance (Revised Q3)	Amount (USD)	Metric
Total GAAP Revenues	$820 million to $825 million	Full-Year Target
Adjusted EBITDA	$95 million to $100 million	Full-Year Target
Benihana Same-Store Sales (Q2 2025)	+0.4%	Positive Comp Sales
STK Transaction Growth (Q2 2025)	+2.8%	Positive Traffic Growth

Increased use of revenue management software creates exposure to potential antitrust litigation risk in 2025.

As a seasoned operator in the hospitality space, The ONE Group Hospitality, Inc. is a heavy user of advanced revenue management software (RMS) to optimize pricing dynamically based on demand, time of day, and inventory. This is standard practice, but it introduces a real, near-term risk.

In 2025, the hospitality industry, particularly hotels and residential leasing, has faced heightened antitrust scrutiny and a wave of lawsuits over the common use of the same algorithmic pricing tools. The core allegation is that these systems can automate collusion among competitors to fix and raise prices, even without explicit communication-a legal gray area that is under intense federal and state investigation. While The ONE Group Hospitality has not been named in a major lawsuit, any company relying on third-party dynamic pricing algorithms for its high-margin STK and Benihana concepts is exposed to this evolving legal risk. You need to confirm your RMS vendor's compliance framework is airtight.

The ONE Group Hospitality, Inc. (STKS) - PESTLE Analysis: Legal factors

Local labor laws are a major cost factor, including the phase-out of the tip credit in key markets like Chicago and Washington D.C.

The patchwork of local labor laws is a significant and escalating cost driver for The ONE Group Hospitality, Inc. (STKS), particularly the ongoing debate and phase-out of the tip credit (the allowance for employers to pay tipped workers a lower cash wage). As of December 31, 2024, approximately 26% of the company's employees earned this lower minimum wage. Eliminating this credit forces a direct increase in the base payroll, which can substantially raise labor costs across its high-volume STK and Benihana locations.

In Chicago, the 'One Fair Wage' Ordinance continues its phase-in. On July 1, 2025, the minimum cash wage for tipped employees will increase from $11.02 to $12.62 per hour, moving toward the city's standard minimum wage of $16.60 per hour. This is a direct, measurable hit to restaurant margins. Conversely, Washington, D.C., which is a major market for the company, has paused its tip credit phase-out, keeping the tipped wage at $10 per hour instead of the scheduled increase to $12 per hour in July 2025. This local political friction creates a volatile and defintely complex operating environment.

Market	Tipped Minimum Wage (Pre-July 2025)	Tipped Minimum Wage (July 1, 2025)	Impact on STKS Operations
Chicago, IL	$11.02 per hour	$12.62 per hour	Direct increase in base payroll; part of a phase-out to full minimum wage of $16.60/hr.
Washington, D.C.	$10.00 per hour	$10.00 per hour (Increase paused)	Temporary cost relief due to legislative pause, but long-term regulatory uncertainty remains.

Portfolio optimization incurs significant legal costs, such as the $5.6 million in lease termination expenses in Q2 2025.

The company's strategy of optimizing its portfolio, especially following the Benihana and Kona Grill acquisitions, has generated substantial one-time legal and exit costs. In the second quarter of the 2025 fiscal year, the company reported a widened net loss, which included $5.6 million in lease termination and exit expenses. This was primarily related to closing five underperforming Grill locations, an action that requires complex legal negotiations and financial settlements with landlords.

Here's the quick math: that $5.6 million in non-cash charges flowed directly through operating and net income, widening the net loss to $10.1 million in Q2 2025. While these costs are a necessary part of streamlining the business and shedding unfavorable leases, they are a clear example of how legal factors-specifically real estate contract law-can immediately impact financial performance. This is the cost of cleaning up an acquisition.

Compliance with evolving food safety and handling regulations is constant, especially with high-end, imported ingredients.

Operating high-end concepts like STK, which features premium steaks, and Benihana, which serves fresh sushi, means compliance with food safety and handling regulations is a constant, non-negotiable legal risk. The company's reliance on a complex supply chain for high-quality, often imported ingredients makes it vulnerable to regulatory changes and supply disruptions.

A failure to adhere to strict food safety standards-from proper temperature logs to allergen warnings-can lead to food-borne illness outbreaks (like listeria or salmonella), which results in devastating legal and financial consequences. The legal compliance burden is not just about avoiding fines; it's about protecting the brand's reputation for high-quality food, which directly drives the average check per person, which was $127 for owned and managed STK restaurants in 2024.

New Fair Workweek ordinances in major cities require predictable scheduling, increasing operational complexity and potential fines.

The rise of Fair Workweek (or predictable scheduling) ordinances in key metropolitan areas like Chicago and Los Angeles County is adding significant operational and legal complexity. These laws mandate advance notice for employee schedules and require penalty pay for last-minute changes, which is a big challenge for the inherently dynamic hospitality industry.

Key requirements taking effect in 2025 include:

• Mandating a minimum of 14 days' advance notice for work schedules in Chicago and Los Angeles County.
• Requiring 'predictability pay' (premium pay) for employer-initiated schedule changes made without sufficient notice.
• Penalizing 'clopening' shifts (less than 10 hours between shifts) in Los Angeles County with a premium of 1.5 times the regular rate for the second shift.

For a large restaurant group like The ONE Group Hospitality, Inc., which has over 166 venues globally, managing these hyper-local rules across multiple jurisdictions is a massive administrative task. Noncompliance in other cities has already resulted in seven- and eight-figure settlements, so this is a serious risk that requires substantial investment in new scheduling software and compliance training.

The ONE Group Hospitality, Inc. (STKS) - PESTLE Analysis: Environmental factors

Mandatory ESG reporting is increasing, requiring disclosure of climate-related risks and sustainability metrics in the US and EU.

You are now operating in a world where Environmental, Social, and Governance (ESG) performance is becoming as critical as your balance sheet. The shift from voluntary disclosure to mandatory reporting in 2025 is a major hurdle for an international company like The ONE Group Hospitality, Inc. (STKS). In the US, the Securities and Exchange Commission (SEC) began implementing its final climate disclosure rules in the first quarter of 2025, requiring large accelerated filers to start collecting climate-related data for the fiscal year (FY) 2025, which will be reported in 2026. This means tracking and disclosing Scope 1 and Scope 2 emissions (direct and indirect emissions from owned or controlled sources).

For your European operations-which include STK and ONE Hospitality venues-the EU's Corporate Sustainability Reporting Directive (CSRD) is in effect, requiring a new cohort of companies to collate 2025 data for reporting in 2026. This directive forces a double materiality assessment, meaning you must report on how sustainability issues affect your business financially, plus how your operations impact the environment. Honestly, this is a massive systems overhaul, requiring you to treat sustainability metrics with the same rigor as financial data.

Here's the quick math on your 2025 financial context, which these new reporting costs will hit:

2025 Financial Guidance (Full Year)	Value
Total GAAP Revenues (Projected)	$835 million to $870 million
Adjusted EBITDA (Projected)	$95 million to $115 million
Total Capital Expenditures (Net of Allowances)	$45 million to $50 million

Pressure to reduce food waste and adopt sustainable sourcing practices is driven by consumer demand and local mandates.

The pressure to manage your supply chain is intense, especially with the high-end cuts at STK and the seafood at Benihana and RA Sushi. The US foodservice industry generates an estimated 22 billion to 33 billion pounds of food waste annually, costing the industry around $25 billion per year. That's a direct hit to your cost of goods sold (COGS).

Local mandates are now turning this from a best practice into a compliance issue. For instance, California's SB 1383 mandates a 75% reduction in organic waste disposal by 2025, and non-compliance for a large operator can result in fines up to $10,000 per day in that state. Your opportunity here is clear: every dollar invested in food waste reduction can yield approximately $8 in cost savings through better inventory management and lower disposal fees. That's a defintely solid return.

Local regulations, like single-use plastic bans, force operational changes in dining and take-out packaging.

Your brands, particularly Benihana and Kona Grill with their takeout options, must navigate a patchwork of local single-use plastic bans. This isn't just about plastic straws anymore; it's about all takeout packaging.

In New York City, the 'Skip The Stuff' law is in effect, prohibiting you from automatically including single-use plastic utensils, condiment packets, and napkins in takeout or delivery orders unless the customer specifically requests them. While this measure is intended to save businesses money on supply costs, non-compliance fines start at $50 for a first violation and climb to $250 for a third offense. Meanwhile, California's Plastic Pollution Prevention and Packaging Producer Responsibility Act (SB 54) is shifting the financial burden upstream, requiring producers to fund the cleanup. This will inevitably increase your packaging costs as manufacturers pass on the collective $500 million per year in fees they must pay over the next decade.

• Mandates in states like Delaware prohibit the use of polystyrene foam containers for ready-to-eat food starting July 1, 2025.
• In California, the phase-out of single-use plastic pre-checkout bags for produce and deli items began January 1, 2025.

The company's hotel-based venues must comply with building performance standards (BPS) for energy efficiency, like DC's Local Law 97.

The ONE Group Hospitality, Inc.'s 'ONE Hospitality' business, which manages food and beverage services in high-end hotels, is directly exposed to Building Performance Standards (BPS). New York City's Local Law 97 (LL97) is the most prominent example, setting strict carbon emission limits for most buildings over 25,000 square feet, which certainly includes the hotels where your venues operate.

The first compliance reports based on 2024 emissions were due by May 1, 2025. Failure to meet the emissions limit results in a penalty of $268 per metric ton of CO2 equivalent over the assigned limit. If the building owner fails to file the report entirely, the fine is $0.50 per square foot per month. Since your venues are often tenants within these large buildings, the hotel owner will likely pass these significant capital expenditure and penalty costs onto you through increased rent or common area maintenance (CAM) fees. You need to know the LL97 status of every hotel property in your New York portfolio.

Action: Finance and Operations must draft a 2026 CAPEX budget that explicitly accounts for the likely pass-through of BPS compliance costs from hotel partners in NYC and other major markets.