Heritage Group, the Rhode Island-based hospitality company, announced Thursday it expects to reach approximately $155 million in revenue by 2026 after five years in operation.
The company, which rebranded from Heritage Restaurant Group to reflect its expanded portfolio, has grown to include 23 restaurants, two inns, catering services, food trucks and retail operations. Heritage Group employs approximately 1,100 workers during peak summer months and 900 year-round, making it one of Newport’s largest employers.
“It’s been an exciting five years, which is why it’s time to broaden our company’s name to better match our expansive portfolio of restaurants, inns, catering services and more,” founder and CEO Nicholas Schorsch said in a statement.
The company’s recent acquisitions include Jo’s American Bistro, Anthony’s Seafood, Scales & Shells and Crisp Restaurant Group, which operates Providence Coal Fired Pizza and Union Station Brewery. Heritage Group also acquired Glorious Affairs Catering and combined it with Audrain Hospitality to form a new catering division called Heritage Hospitality.
On the lodging side, the company acquired two historic properties: The Vanderbilt, Auberge Collection and the Hilltop Inn.
Heritage Group’s portfolio includes Rhode Island establishments such as La Forge Casino Restaurant, Brick Alley Pub & Restaurant, Flo’s Clam Shack and Olneyville New York System.
“We feel we’re just getting started and aim to double our footprint within the next five years, expanding to other markets outside of New England,” Schorsch said.