Austin, Texas-based multiconcept operator Hai Hospitality received a “substantial” investment from private-equity firm KSL Capital Partners.
Details of the transaction were not disclosed, but a spokeswoman said “KSL is a significant stakeholder in Hai Hospitality.”
Hai opened modern Japanese concept Uchi Austin in 2003. Since then, the company has launched four Uchi restaurants in Texas and one in Denver, with plans for a location in Miami early next year. The restaurant group also operates sister concept Uchiko.
Hai debuted Loro Asian Smokehouse & Bar in 2018, a partnership with award-winning barbecue chef Aaron Franklin.
“As Hai Hospitality looks to expand, we will target cities across the U.S. that fit both Hai’s operational and brand requirements,” a Hai spokeswoman said via email. “The KSL and Hai partnership is new and they are just starting to plan their growth strategy beyond the announced openings for Uchi Miami, Loro Houston and Dallas, and Uchiko Houston.”
The Hai Hospitality leadership group, including founding chef and partner Tyson Cole, will remain in place, the company said.
Cole was named one of Food & Wine Magazine’s best chefs in 2005 and he received the James Beard Foundation’s Best Chef Southwest award in 2011.
“It’s amazing to see our evolution and the growth of a culture and team so dedicated to offering incredible experiences for our guests every day,” Cole said in a statement. “I’m excited for KSL’s investment and to continue bringing the magic of Hai’s concepts to new markets across the U.S.”
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