When did Benihana's agreement with ANGEL at the Hotel Calimala in Florence, Italy terminate?

According to Benihana's 2024 Franchise Disclosure Document, the agreement with ANGEL at the Hotel Calimala in Florence, Italy, terminated in December 2023. This agreement was part of Benihana's F&B hospitality services, which the company expects to drive growth and profitability through managed STK restaurants and management fee income. The termination occurred as Benihana continues to work with hospitality clients to identify and develop opportunities in their venues.

This termination indicates potential shifts in Benihana's strategy or the performance of the ANGEL location. For a prospective franchisee, this highlights the dynamic nature of Benihana's partnerships and the importance of understanding the terms and conditions of any managed or licensed agreements. It also suggests that Benihana is actively managing its portfolio of locations and is willing to make changes based on performance or strategic considerations.

It is important for potential franchisees to inquire about the factors that led to the termination of the ANGEL agreement and how Benihana plans to mitigate similar situations in the future. Understanding the details behind such decisions can provide valuable insights into Benihana's risk management and operational strategies. This also underscores the need for franchisees to carefully evaluate the specific terms of their agreements and the potential for changes or terminations.