STKS - Earnings call transcript Q2 2022 | The ONE Group Hospitality, Inc.

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Operator

Greetings, and welcome to the ONE Group Second Quarter 2022 Earnings Conference Call. [Operator Instructions].

As a reminder, this conference call is being recorded. I'd now like to turn the conference over to your host today, Tyler Loy. Please go ahead.

Tyler Loy

hello, and operator, you, everyone. Thank

these not also We our Before to also only cause revisions we more place you that Please statements. results detailed undue future this differ publicly let SEC performance, subject that are remind to events. in reliance could reflect on the statements numerous as remarks, the future part refer could we of These opinion impact you financial discussion any of our are expect. not or statements We forward-looking our statements recent undertake forward-looking to begin that filings statements that include you light our me will risks actual for date of what information our and operating risks of future uncertainties These conditions. formal note of release results revise a call. discussion these should of from guarantees forward-looking them. obligation new materially forward-looking and today no or and to

will certain During we performance. we in evaluating discuss be call, non-GAAP our which financial believe today's can measures useful

of or in not information or measures considered in results be isolation However, other accordance presentation as the for these substitute GAAP. a should prepared with

turn these release to along to I'd measures we see our and sales GAAP please at beverage discussion With of EBITDA, issued the adjusted and comparable Manny? food Manny total call units Hilario. these today. that, net a as to consider reconciliations measures, For adjusted useful, of profit, owned, such and income, earnings over restaurant like measures sales operating with licensed why managed

Emanuel Hilario

and joining interest everyone. appreciate you for The Group. and We ONE Tyler, us hello, you, your Thank in sincerely today

business team The these industry. experiences providing to quarter Our focus line our entire innovative I'm facing day. with with unforgettable experienced our for our quarter ongoing exceptional extremely Dining execution pleased sales operational second offerings into continued with our results continues culinary in top first during for quarter. despite strong on we guests I thank the every performance the value and challenges momentum guests, and the and each Vibe our the resonate and second and strong

to prior Our second grew quarter. when compared to XX% total $XX.X nearly million revenue year the

Our comparable increase the sales at best XXXX, the when an XX.X%, increase the pre-pandemic XX.X%, also among increased XX.X% of among to comparable continue at industry. sales base at STK Kona Impressively, in compared and XX.X% to a best STK increase Consolidated X.X% consisting be and and of the of consisting in restaurant an Kona a our Grill. sales of at industry, XX.X% consolidated comparable year, Grill. increase increased

weekly were XXXX, same in second compared $XXX,XXX Kona equally in Our Grill to in quarter at sales average period $XXX,XXX impressive XXXX. compared the the $XXX,XXX STK $XXX,XXX to in for U.S. period at and same

heavily pleased are mission over sales reflected being special focused which This in occasions. corporate other we continues and delivering out, nights, business, pandemic, capturing on the on pay for includes strategy We the EBITDA Since and embarked to Instead, strategically event-driven to business. and social happy brunch results. the been dividends have hours date our ladies night holidays, as industry-leading we before with $XX.X net away mix million also adjusted income a our in diversify quarter. $X from million occasion in

now gatherings, group and seeing However, return and X capture that years conventions able have been of we limited demand. are events after corporate we to

in occasions and our expose price dining Guests both for join us points. for value approachable to Grill. events believe then and and to during also our their back build that addition, offer we to remember allow attention STK opportunities the us In capabilities our It incredible our the offerings and on at capture catering Easter, programs private when midweek guests daypart currently for catering tremendous at rooms. focus brunch allows Kona celebratory to us times promotions, promoting brands. us value-driven menus and second We'll and important brands This continue for demand such also creating date our new Father's weekday come with Day Day we as leverage new there XXX continue both hour brands, captured out around to are Kona and night the delivery and Lunch, Power Furthermore, is mimosas excess At quarter, STK. menu. Mother's bottomess we happy our several pretheater and running several capacity. take we and Throughout without demand Grill specials. holidays

holidays. these record-breaking achieved of result a efforts, some we these As sales during

our Now development. to turning focus

from this have Kona our of license Kitchens investments. award-winning managed Yum. Bao STK and and year, with In exciting and consisting enables and first our new Austin X July, This and opened for in pipeline deal to Kona base an with concepts, deals Texas. license now X of Grill company-owned Austin, Guests enjoy a select us further can expand virtual we dining capital F&B items growth limited of We locations capture venues. delivery a both through menu of REEF consumer Grill partnership new in

the Kona in Arizona. For one not but company-owned one only we will units U.K.; Yum delivery and in finally, Kona Francisco, London, managed Grill, and which Stratford our in San takeout Bao plan company-owned Columbus STK one remainder three provide Riverton, kitchens, planned Grill open open the STK and One to in license to additional Paradise locations: in Valley, in least, with from offerings partnership and And year, of concepts. two last a these Dallas we in X

significant stated, ahead. long are whitespace our we with early in strategy growth have we As

believe about deliver as long-term We returns. are our best-in-class excited units our we opportunity

targeting XXX addressable and market restaurants and between and Kona Grill. XX% globally ROIs domestically. XXX at for new total restaurants, we're STK We STKs at company-owned including For Kona new foresee XXX least restaurants, Grill for least a XX% company-owned

cost environment. on to Moving the current

as that in to able of of deliver a only period said, industry. Selling currently than historically are and additive we shack first high-margin programs. high quarter. I'm to items the were sides our accomplish we cost bar beverage at mix across aware, higher product XX.X%, goods committing are you this inflation were As pleased sold That stoppings our such engineering. and slightly and to able We through

in year-over-year noticeable labor, Turning manager in see to average and both increases wage we hourly workforces.

captured. addition, the to we remain we keep best the have train growth sales committed In allowed fully market And initiatives. the and have these investments us staffed share driving to and in hire, industry. strategies to new support retain made talent to in our unit we've order We're significant believe

price unforgettable our team performance plan modest with in our power exceptional along We proven our value second focus sales, day-to-day and traffic cost have on experiences. and in of the industry-leading to is disciplined to back have Lastly, current doing strategically quarter, store translating effective Ultimately, trajectory pick pricing new of To continue significant we management our a operations execution proposition a taken during With fantastic the and price this dining we'll increases guests year. we our comparable job providing half has development. both P&L, the strong great and brands. for year. conclude we increases some our and strong believe

I'll to Now Tyler. back call turn the

Tyler Loy

Manny. you, Thank

second our discussing quarter detail. financials by start me in Let greater

is comparable from $XX.X million million, total million, which of increasing quarter increased new year. attributable Second revenue last our strong the same momentum sales units. opening restaurant resulting $XX.X along XX.X% last XX.X% in consolidated our quarter from the The Included and from the XX.X% to million in initiatives $XX.X quarter primarily is revenue same Domestic sales of sales revenues to for owned year. of increase increased were quarter $XX.X revenue for total net the GAAP execution the our compared for with XXXX.

primarily XX.X% operating XX management in the to year quarter owned restaurant increased XX.X% expenses increased revenue were to X.X% in initiatives, prior in of sales of an the domestic consolidated product the second as as Owned a revenue the million restrictions incentive STK second and the XXXX. our consolidated lifted compared increase from Versus is sales of being sales XXXX, to second XX.X%. license wage venues. owned XX.X% capacity XX.X% comparable initiatives. points sales comparable XXXX of venue versus comparable and in from increased $X.X increased Grill Owned Kona quarter increasing XX.X% STK, Grill average XX.X% XXXX. XXXX due comparable This sales costs a result to of restaurant XXXX increased net increased due XXXX, net number fee Management revenues increased primarily operational comparable restaurant percentage second and to of of sales cost For increase XX.X% and restaurant primarily percentage sales basis of the quarter execution of of million, in the and Kona strong by versus points and basis increased in the offset $X.X increases. quarter partially XX.X%, XXX

at of increase expense XXXX. by very driven quarter credit the primarily million refinancing We pleased was The quarter expenses $X.X professional quarter particularly are was of XX.X% composed sanitation, supply the general year. the last tax $X.X $X.X a decrease the and compared interest XXXX. On STK second profit to with during XXXX of The compared the attributable increased safety restaurant $X this prior of to This million second Income increased this administrative travel $X.X during to of fees challenging compared in million reported of lower balances spread XXXX. costs airfare costs. second expenses adjusted expenses million rates million due August the approximately were and $X.X second similar basis, COVID-XX in Interest second average total adjusting in are million of of were quarter taking When quarter million environment. $X.X in COVID-XX and general to prevent rising of the the lower of to year. facility related hotel million COVID-XX. million same to to direct the for and last XXXX administrative our and incurred compared second of in $X quarter to $X.X expense quarter. million costs was quarter $X.X was outstanding the and the expenses related XXXX We and precautions stock-based compensation, in operating for of of year. by in driven

the a in XXXX annualized effective $X.X million Group other XXXX and adjusting expenses or gains, was million adjusted net Our and per income to the for per income of second nonrecurring ONE Hospitality, net share compared of to at income million estimated EBITDA second share. to in for The $XX.X tax or quarter in share second When XX%. an $X.X COVID-XX-related the ONE $X.X Inc. of is or share. adjusted quarter The attributable per the $X.XX to was Net income $X.XX million net income expenses $XX.X $X.XX income rate net compared income income XXXX. million per adjusted quarter Group adjusted attributable was $XX.X net of Adjusted Hospitality, quarter $X.XX net net or compared XXXX second of to Inc. million

call We release. EBITDA quarter a in second earnings reconciliation now the to Manny. the adjusted of will I in turn have back included table our XXXX

Emanuel Hilario

Thank for Tyler, thank you, and your time all today. you

obvious conclude by solid saying very me Let our despite headwinds. business that remains the

We growth bring unforgettable long-term can that this we our happy portfolio every They restaurants are our and our experiences have. been restaurant to strategy of day every us craving. high-margin they exceptional appreciate we who customers do build visit and you are early time. to brands stages life also I the be in the so Tyler operate. where Operator? have like of to would with on to delivering all, a to thank Vibe and market call. returns. they to grateful of to best experiences by as continue every I'm high-volume, teammates that in today's our answer highly We to that questions guest Above mission every the continue may differentiated I all joining everyone Dining that to our any compelling return enjoy guest

Operator

Instructions]. the Miller from first with question Piper And Nicole comes Sandler. [Operator

Nicole Miller

update. Super

a of couple Just questions. quick

are trends? high The Europe? how How managing are seeing you consumer first along? one, things very coming you through? is with level, How are What

Emanuel Hilario

by Manny, is way. This the

seen not stores there's Europe So mean well. in noise our in slowdown, major a mean, we I economy. I to London but do Nicole, clearly more a lot have continue general

it there's market. won't felt any So noise. noise really out there's anytime in lots significant there, lot definitely but soon of impact the of because that mean that We change a haven't doesn't

Nicole Miller

or I up Looking at guess, for -- is dollars sure. year-over-year well, quarter-over-quarter MLI

That's to front quarter-over-quarter trying in mean i kind Sorry, I units as figure me. any the well. there's you in have was more out But just operate don't I of pattern MLI how there. of

Emanuel Hilario

second seen fact, up in Yes, matter the any No. we But significant as haven't difference. a they well quarter. pretty held of

out noise So look again, a lot -- of it. just right there there's through now but and we'll

Nicole Miller

just is this then And seasonality. about very curious

seasonally. everybody slows So XQ knows how

of mostly margin. at of want comment the on customers us to how at of seasonal any holding XQ you're year. these level of part different same that becomes different would And you patterns store be time, to fascinating consider so just on a the outside Just occasions. general But big it's all types

So analysis holiday, say, kind scenario can neutral the are How around holiday, you're come? doing minds or the your holiday. you talk I us planning you through of should maybe fourth quarter, good for what may wrapping bad

Emanuel Hilario

Yes.

So a good very question.

for and see amount December. events, a the we're one fourth fourth quarter, pretty Number two So of to events, consider: decent actually to things particularly starting quarter is in

did we that's the the leading say us, if fourth I So you actually of And good in beginning that, December quarter, think a Omicron. would year, to about indicator. relative have last then

relative a that actually, us. for on lap, lap think actually quarter we good the the is fourth So

a say And good fourth I think only the is remember, events lap leading for to I rebounding against. the now. -- rebounding that on So comparative events. would right that we indicator go year, saw we actually good But slight the or again, last quarter on have very

way relative the to events last and year. we why pipeline had that's than year better So last looks

Nicole Miller

trends, just geography, meaning, to you're telling it total the underlying days? last income, are be the one. data seeing consumer a And slicing talked there could proposition, promotions is just what value any these you which way The your how these you are options affordable strong and It happening? both please? way something by you offering And what about by dicing -- and and you is running,

Emanuel Hilario

Yes.

So point -- a price very did in see do We our happy I a we mean so hour. positive trend XXX happy hour. launch

lot amount a consumers. seeing periods. good pretty have interesting are high-end velocity we time do in enough, we also the But So because of earlier a of then

to continue do extremely products high-end Our well.

July. we fact, doing of month so the they As well were to to matter whole our a of promotion that extend decided Wagyu

in we marketing. if So values, definitely bringing digital our you marketing see people so we're look at there, value

people So trade by But drive pretty in. have particularly a interesting we're seen utilizing consumers the intent value enough, to to up. STK, we messaging large at

that, consumer Kona relative is value rather a have we doing maybe But though, take up, with a So a option bit low supplemented we and well. there, offering Grill, high. is And then and point are bacon frankly, high there, obviously, lunch as price although cheeseburger I would on to STK that's extremely what little say our for a the not the we're messaging and holding that extremely income. well. we on entry But end demographics those as is saw cheeseburger, the household rates actually fry have $X $X.XX option french

a that although So in points, trading coming we're actually doing low they're seeing for think, of I consumers, the up. price in-store, we're them nice the job

or said have is value, is we've is the always value, see in -- So taking the are I committed entry marketing right and But in need doing seen as when right price that material again, what value. actually price people been is the we that that, not coming switch our always promoting down actually the they if We've less trends be, I value to you have points. to would interesting to way, the now, trading it's which get every we're we I on now customers but to where tell restaurant. really by but would the any the day past menu. they're items regular for going do points

Nicole Miller

on more at measure? And is what think STK now essentially Can comp? that calculating there? side, in through you that roof. Can talk on comp entree you then for price however been just right, I normalized trades conclusion, they've you're to, least the talk traffic you to a in because So counting about the transaction have you're understand

Emanuel Hilario

Yes. use STK. Grill. STK and We entree both measure actually of for I of checks use actually we we mean up in absolute -- as as measures -- or were use an And well both we for heads Kona both. use

that What So which the making the use holding here and X-year from am trend against base pretty metrics stack looking is we're is up. is really metric up held perspective sure well. our a we that XXXX, thinking that I the

We this in you do second more we the at consumers do STK, our That advantage transactions health actually kind the some metric, feeling of as wanted of power, will, bit for actually confident level almost quarter. help and giving not if minor price take really more saw that in to a very little get there of quarters release of as that little believe held margins at particularly probably price some how as more price, and We're a thing baseline Grill us until quarter normalized may But So a price that's Kona room were press you at I'm such least off can but at that Kona Grill. we we that we because couple how from is there's STK Kona assurance at taking our should how us sure to for measure from Relative of the touch-ups for anymore. taking our Grill, we and as a we're insignificant. quarter is to and way the in comp have both now behaving. look doing. is third pricing we more significantly, business pricing we to normalize. a

Operator

And Securities. comes with from the Wedbush question Setyan next Nick

Nerses Setyan

more to to in quarter see some basis the you in can, difference? last for year? just point expenses? you that not, details uptick exactly us around then give if that in And us guys expenses versus uptick where expect of aspire QX kind And was XXX did if just an over what So operating in

Emanuel Hilario

Yes.

mentioned the think that his restaurants statement the associated with relative at course, par. And all, on and to on at item. have wage our that point uptick labor to average is we line not keep mostly, Tyler this hourly the been chosen prepared manager expense, So if staffing pressure I has of then, for

the So staffed throughout we've restaurants our fully quarter. kept all

the in up. have So counts the has is the pressure and head just that wage point model fact our gone business there we're frankly

than is the pricing So pricing earlier take not the the thing probably have significance quarter. could in on labor, other a I taken there probably no, was hindsight, little we because other did mean, we But the on P&L. in nothing really that

any of DJs that like like service was if stuff labor-intensive think that's you it also on. I about they kind also labor exposure what is that, rates, the Although, probably pressure would say janitorial, and to have

think terms was In what expenses, in everything pretty would with thought line it of I much other be. we

Nerses Setyan

And should you're we of pricing like going light the incremental forward, in QX, QX, how margins about taking? so think

Emanuel Hilario

I Kona price. think mean, X% X% I Grill, we're So for about thinking on to

Kona that Grill thinking SDK, a So two substantial then one and points, select very should margins the or on have items. we're impact maybe

those I still the margin. So think in margin looking the at range. items XX-plus is the Obviously, will help STK

to the X% kind digit, range. that X% range it should at pricing double back on back it up right? the put then into should So margin. XX-plus of to And XX% XX%, the increase, So mid the bring we Kona Grill

Nerses Setyan

sales question. about maybe progressed July? trends Can then And slowdown into you June in a the any or just And of you've kind just as seen quarter and whether Okay. July? final talk

Emanuel Hilario

didn't I it. see

we different have as it a we with the the and would choppy, It did you trends extremely slowing robust that very some strong month. it holidays, strong. days was so was saw April much really weren't but where wasn't that down, days holidays. some June May, was -- and So around

arguably, just So will, trend, you softer a little little than in it choppy a May. June, was bit a if of more bit

urban X a was the with month slow of X seasonally the month more So the July interesting July slower is start it's an quarter, in months that holiday, downtown you because restaurants. the the -- for periods. of probably of particularly off Xth for and very

were pretty up July read, we interesting held to We it's trend. relative So the but an good. X-year thought

of see see that's is ultimately So to from very, believe very well stuff. with reasonably Nicole, comp, mentioned the continue our is visibility prepared earlier as trend it's that up going million-dollar -- that's the I that with news kind noise question a as we quarter. to And you X-year is comments, strong. can Again, the we all and kind that, hold the and the of, is in third that's

trend. known we've relative gone So But that's weeks the things first are X-year through okay of here. of couple big shaping just and the the as quarter, to the

Operator

And the Street Smith Mark with Markets. Capital next comes from Lake question

Mark Smith

than look puts level just I looked tougher want X-wall dig in kind deeper impacted any just we any on a margins. like Kona STK a insight, give takes Grill bit little us of your that through Can margins. the units? to at Walk you as just restaurant had time Kona maybe and more

Emanuel Hilario

quarter wage, both is wage. then higher and and So differential only tuna. prices it's were the uses on Kona much of more between meaningful tuna impacted Grill STK were the component, hourly because And sushi in tuna

I that's brands. we say take margins I again, the that the previous to on And pricing said now. would bigger between and take do on pricing we as didn't is So plan that, answer, difference the my X

bring to So back I that's the going margin Grill to the think mid-teens. Kona help

Mark Smith

the change did Grill consumer customer, X pressure hear on customer Okay. see more the Kona look that STK? right, you versus you STK you on And the in did did as I than with inflationary different you at consumers, Kona behavior

Emanuel Hilario

I consumer premium would STK that answer for the say be appetite would unchanged. the that is items

STK. a tremendous the So trade-up on amount we of see

any trade trend about really then -- discernible predictable change see if on have it, didn't meaningful, we any items to And we either frank downs seen people we at not Grill, all. per taking So check. or less really Kona be any

-- it promoting. a amount see we of -- a it because again, doing tremendous don't we're So of but lot

lots know, bar, We XXX. of going as activity you into the have from

helps maybe macro activity of the lot some our a of trends. offset So marketing

Grill. is do more really that see doing, more to it Kona the so perhaps these reason So at than promotions has fact we the consumer we have the don't particularly with what's that

Mark Smith

your then and those you how And restaurants me. Can question about just performing? units the are talk last Okay. noncomp for

Emanuel Hilario

Bellevue. $XXX,XXX have volume. noncomps is the instance, would for restaurants weekly be Noncomp -- are It's doing great. there. doing average What in Bellevue the do we

else much everything comp. on I is think the pretty

Mark Smith

Yes.

Okay. All right.

So I new guess confidence that of on target think XX% the ROI some you at But gives you restaurants, units? no changes. the in now what to look new I as is you -- XX%

Emanuel Hilario

new mean really is for real of fantastic. us estate restaurants The a function the I real the estate. is

think I planned have a that of locations the all out we type are locations.

I a in think there's So estate. real value of significant the quality the

you I we're by fantastic, So if Columbus. way, at Dallas great think Francisco, looking a the Francisco. San then which, part and of mean, a is is XX real San opening here, And very shortly Riverton is which estate also high-quality and Mission,

quality that I the Again, -- So of have estate. real say in me going And indicators all places forward. gives are it favorable the these very would confidence

in Francisco, see more to instance, San is For than office the city, better population historical starting number. population which you're more was and X, the

more you did bit So city San and see the you on people lot a to these like Francisco, to there. And see more benchmark little nights busier Thursdays particularly you're in a Fridays. and traveling go and days, starting if

see the seats inventory restaurant to taken. of You're of lot starting a being

the So team to people out is in ads is property the as good. that indicator my want put validated employees the for and join we demand And for many very, how high by there opinion. very in I think there Dallas, very

of set that estate will So I the do next restaurant well do the openings. real in for believe very us

Operator

JP next from comes And Capital Partners. Wilhelm ROTH the with question

Unidentified Analyst

thinking how brunch what dispersion to curious I of as in across on guys locations? that, growth looks the could that Is STK we further segment? kind seeing brunch. most a you locations? the in was driving a briefly follow-up just then concentrated kind all And start are activity of like. couple of you of brunch Are about If

Emanuel Hilario

Yes.

So question. good

is have performance because that locations where our branches they're board. some We the in overindex So pretty at. across just even of do

So I with terms a continue Saturdays balanced would daypart pretty there, of it's matter then basis. think it brunch that the a in and on brunch significant. on tremendous guests. And on driving still per-restaurant a But and say the opportunity has of well frequency overall, we Vegas just of it's the think it's growth And a promoting Sundays.

of So what far, does and we've terms probably -- brunches, early that program. we're been pretty of can on step -- in how growth step that XX do but with happy of in we're we X with

some We the adding at are products. looking elevating features on new drink programs,

activities the a offers that we to well go particularly brunch add a that is the that I programs, Remembering that and brunches daypart. day interest -- with like high plan a to quality really So there's right consumers, and promoting Sunday it's program is alcohol to lot any fun think, of very going people doing time now, very out.

So pretty we us that will, a we -- you runway will daypart. product still promoting good and of the if have two lot that and brunch be, feel on things will help elevate that

Unidentified Analyst

next to guess, there thinking think would we as guide out growth, XXXX should that without year? on and When we about growth to I this Is or kind of guys way any disappointed par be about seeing we Great. with you flat about anything. sort thinking sales And be asking unit you of just start same-store revenue year.

Emanuel Hilario

we mean, all on we is, I quarter of and the to away as third that just point, the I for in getting we through the been is, circumstances time play something positive try the again, reality. But -- noise I we else can't way it's don't everything challenging based really best the and The you in as this did it's is So But -- visibility out reality hand remember those we comps, long is, out any the we obviously think the stay have as a I've the news which so around. we'll within there, whatever at but from. here's -- since company can our environment. COVID time during know,

on team's to confidence that areas pivot So to the within still a are I ability to flexible successful and the very have strong be cycles.

Now kinds up have higher the bad. consumer you business, you could some again, is not when everything grow places different all strategies. of end still economic trading There's other where cycles,

making of and pivoting on sure stays flexible the overperforming, being about team really just that it's to over-indexing culture industry. again, focused So always our the

Unidentified Analyst

one one then for And just Perfect. you last guys. quick

on I in a delays Are kind Just expected? development slipping than talked lines. bit of inspections, seeing the of little time about there. later past know we've municipalities openings restaurant kind of any

Emanuel Hilario

mean certainly challenge. the is Yes. I think a I jurisdictions

I just challenges just recently relative in in labor. is other think to more the mobilizing one -- of construction general

get going insurmountable how But as or to it's we're I and to Obviously, STKs challenging of -- it. historically is to a lot think there. build long I anything restaurants these moving again, there's the just it restaurants bit them. have ability and more more in the labor -- labors we big are remember than just to a construction takes flexible little see a and more pieces. don't It's with just be open been

just we cost project overdriving we to plenty give ourselves that done. make quality the build to the of So get time that to sure need with without

get things week. open. So was in I training to much earlier, that's stretch cost in built have employees We pretty always Francisco Francisco general, its up. these San actually San comp to how the mentioned in all balance of and But as this our

one of thereafter, good then pretty where it's and come looking it's we're pretty looking that going too. in And immediately Dallas opening good. to terms it's So

forward these we're things. So to continue looking opening

Operator

like And the And this Hilario call the to comments. for to now I'd question-and-answer closing concludes Manny session. return any

Emanuel Hilario

you and one I'm restaurants. the being team. in teams our what look conclude without of our And none to appreciate out I as we and interest of is of and As everyone's all of support best The success appreciate here, of always, do part call work ONE seeing very honored I the always, our I forward that, incredible and the of industry, in of Group. possible our

Operator

you. has today's concluded. The Thank you Thank attending presentation. conference for now

You your lines. may now disconnect

The ONE Group Hospitality, Inc. (STKS) 7 Aug 222022 Q2 Earnings call transcript