So I think that the — our outlook for that business is very favorable this year. Although from an STK perspective, also as I discussed there, really owning holidays and owning date night has become a very strong part of that brand, particularly in the cities. So I’m very excited about that. But anyhow, a strong outlook for business by and far this year.
Unidentified Analyst: Great. And if I could just sneak one last one in there. Just to call out the strength you’re seeing at the new openings, Dallas and San Francisco, is there anything you can share just about what you’re learning there, what you’re taking away and kind of why things are going so great there? Would just be great to know as you think about the upcoming.
Manny Hilario: I mean — so I’d like to, first of all, give credit to the brand on those openings. So when we were coming out to opening those restaurants, I think people know the brand really well because we have grown quite a bit. So I think just the brand awareness and the way that we go about defining our geographies. So we’re — Dallas is a very complementary, very great city for steak. And so we’re really picking some great cities in terms of development for STK. So I think the combination of that, cities and geography and quality of real estate as well as the brand being there. And then, the last thing I would say on the success of the openings is our focus on marketing has always been digital. And we have, in my opinion, really become an incredible digital-marketed brand.
So we are able to create a lot of excitement and a lot of — through social, a lot of excitement about these openings. So I think the combination of those things has really led to these great opening revenues. Again, I think as we mentioned in our prepared statements, we only expect 150 to 160 to get to those 50% type of returns. At these kind of volumes, our payback on these restaurants are less than 1 year. So it’s a very good problem to have for Tyler here that we can pay them back in that short period. So again, it’s those 3 components. And we’ll continue opening them in big cities and great pieces of real estate. So — and the brand still does very well. So I expect that we will have a very good development year in 2023.
Operator: We have a question from Roger Lipton from Lipton Financial.
Roger Lipton: Just, Manny, can you just give us a little more feedback on — in terms of the STK openings, the next several openings? And are they going to be company-operated or managed facilities?
Manny Hilario: Yes. So the next sequence which is Charlotte, Boston, Washington, D.C. and then we also have Aventura in Florida and Philadelphia, those will be all company-owned and they’re all a real estate. So we’re super excited about all those locations.
Roger Lipton: And when — roughly, when might they open?
Manny Hilario: Charlotte is very close and Boston will be 2 to 3 months after we finish Charlotte. And then we could plan the other ones to come about a month to 6 weeks thereafter each other. So that’s kind of our — how we look at timing of openings for those.
Roger Lipton: And what’s your net investment, the cash out on this current crop of stores?
Tyler Loy: Yes. Roger, so this is Tyler. Yes, so we typically net anticipate new STK units to be about $3.8 million roughly.
