What are the primary restaurant brands that Benihana operates?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
Our primary restaurant brands are STK, a multi-unit steakhouse concept that combines a high-energy, social atmosphere with the quality and service of a traditional upscale steakhouse, and Kona Grill, a polished casual bar-centric grill concept featuring American favorites, award-winning sushi, and specialty cocktails in a polished casual atmosphere. Our F&B hospitality management services are marketed as ONE Hospitality and include developing, managing and operating restaurants, bars, rooftop lounges, pools, banqueting and catering facilities, private dining rooms, room service and mini bars tailored to the specific needs of high-end hotels and casinos. We also provide hospitality advisory and consulting services to certain clients. Our F&B hospitality clients operate global hospitality brands such as the W Hotel, ME Hotel, Hippodrome Casino, and Curio Collection by Hilton. For those restaurants and venues that are
managed or licensed, we generate management fee revenue based on top-line revenues and incentive fee revenue based on a percentage of the location's revenues and net profits.
We opened our first restaurant in January 2004 in New York, New York. We currently own, operate, manage or license 63 venues including 28 STKs and 27 Kona Grills in major metropolitan cities in North America, Europe and the Middle East and 8 F&B venues in four hotels and casinos in the United States and Europe.
We opened the following eight new venues in 2023:
- Owned STK restaurant in Charlotte, North Carolina
- Owned STK restaurant in Boston, Massachusetts
- Owned STK restaurant in Salt Lake City, Utah
- Owned Kona Grill restaurant in Columbus, Ohio
- Owned Kona Grill restaurant in Riverton, Utah
- Owned Kona Grill restaurant in Phoenix, Arizona
- Two Bao Yum venues through a licensing agreement with Reef Kitchens
Recently the Company exited its licensing agreement with REEF Kitchens and has no venues operating pursuant to that agreement.
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to the 2024 Franchise Disclosure Document, Benihana's primary restaurant brands are STK and Kona Grill. STK is described as a multi-unit steakhouse that combines a high-energy atmosphere with the quality and service of a traditional upscale steakhouse. Kona Grill is a polished casual bar-centric grill concept featuring American favorites, award-winning sushi, and specialty cocktails.
Benihana also markets F&B hospitality management services under the name ONE Hospitality. These services include developing, managing, and operating restaurants, bars, rooftop lounges, pools, banqueting and catering facilities, private dining rooms, room service, and mini bars, tailored for high-end hotels and casinos. Additionally, Benihana provides hospitality advisory and consulting services to certain clients, including global hospitality brands such as the W Hotel, ME Hotel, Hippodrome Casino, and Curio Collection by Hilton.
As of the FDD date, Benihana owns, operates, manages, or licenses 63 venues, including 28 STKs and 27 Kona Grills, located in major metropolitan cities in North America, Europe, and the Middle East, along with 8 F&B venues in four hotels and casinos in the United States and Europe. In 2023, Benihana opened eight new venues, including STK restaurants in Charlotte, Boston, and Salt Lake City, and Kona Grill restaurants in Columbus, Riverton, and Phoenix. The company also had a licensing agreement with Reef Kitchens for two Bao Yum venues, but this agreement has since been terminated.