Parasole Restaurant Holdings, Inc.

What Parasole Restaurant Holdings, Inc. does

Parasole Restaurant Holdings, Inc. is a privately held, founder-led hospitality company headquartered in Edina, Minnesota, that operates a portfolio of five distinct restaurant concepts across the Twin Cities metropolitan area. Founded in 1977 by CEO Phil Roberts, the company runs Manny's Steakhouse (a premium steakhouse at the W Minneapolis, ranked among the world's best by Men's Health), The Living Room (an urban chic lounge, dramatically renovated in 2025), Prohibition (a 27th-floor speakeasy in the historic Foshay Tower, also renovated in 2025), Pittsburgh Blue Steakhouse (a workingman's steakhouse with three locations in Edina, Maple Grove, and Rochester), and Good Earth (a natural foods restaurant at the Galleria in Edina).

The company's revenue mechanics are entirely direct-to-consumer: food and beverage sales at owned restaurant locations, supplemented by gift card sales through its own e-commerce storefront and the Manny's Black Card loyalty/prepaid program. Distribution is through physical dine-in service; reservations are partially routed through OpenTable for Manny's and Good Earth. Marketing relies on the corporate website, social media, email newsletter, and the CEO's personal wine/travel/food blog. No proprietary technology, software platform, or data product is disclosed.

Parasole serves an affluent, dine-out customer base in the Minneapolis-St. Paul metro, segmented across upscale steakhouse patrons, lounge and nightlife seekers, health-conscious diners at Good Earth, and corporate/private-event customers. The company employs between 1,001 and 5,000 people, has no disclosed institutional investors or parent company, and has never raised external funding. Its competitive posture rests on multi-decade brand reputation (notably Manny's), prestigious real estate at landmark Minneapolis properties, and a diversified multi-concept operating model.

Name

Parasole Restaurant Holdings, Inc.

Legal name

Parasole Restaurant Holdings Inc.

Website

https://parasole.com

Company type

Private

Founded year

1977

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Parasole Restaurant Holdings is a privately held Twin Cities hospitality company founded in 1977 that operates five restaurant concepts — Manny's Steakhouse, The Living Room, Prohibition, Pittsburgh Blue Steakhouse (three locations), and Good Earth — serving affluent and casual diners in the Minneapolis-St. Paul metropolitan area.

Ownership category

akta.pro rank

Product category

Restaurant Hospitality

NAICS

Drinking Places (Alcoholic Beverages) (7224)

SIC

Retail-Eating & Drinking Places (5810)

akta.pro primary industry

Special Occasion & Destination Restaurants (THAFACAK)

akta.pro secondary industry

Hotel Bars & Rooftop Bars (CRANACAL)

Keywords

• Steakhouse dining
• Restaurant hospitality
• Natural foods dining
• Lounge and cocktails
• Private event venues

Headquarters

HQ city

Minneapolis

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Restaurant Dining (Food and Beverage Sales): Revenue generated from dine-in restaurant services across multiple concepts including steakhouses, lounges, and natural foods restaurant. Customers pay per visit for food and beverages consumed on premises.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Parasole Restaurant Holdings operates a portfolio of five distinct upscale and casual restaurant concepts across the Minneapolis–St. Paul metropolitan area, including Manny's Steakhouse (premium steakhouse with proprietary Heritage Beef), The Living Room and Prohibition lounges (Art Deco cocktail venues at the Foshay Tower and W Minneapolis), Pittsburgh Blue Steakhouse (three locations in Edina, Maple Grove, and Rochester), and Good Earth (natural foods restaurant in Edina). The company also sells branded gift cards redeemable across all concepts through a direct e-commerce storefront and offers the Manny's Black Card program.

Product overview

Parasole Restaurant Holdings operates a portfolio of five distinct restaurant concepts in the Twin Cities area. The portfolio includes Manny's Steakhouse (premium steakhouse), The Living Room and Prohibition (two complementary lounge concepts at the Foshay Tower and W Minneapolis), Pittsburgh Blue Steakhouse (workingman's steakhouse with three locations), and Good Earth (natural foods restaurant). The company also offers Manny's Black Card and Parasole Gift Cards as additional products. Each restaurant operates independently with its own brand identity, menu focus, and customer experience, united under the Parasole parent company founded in 1977.

Differentiator

Problem solved

Functional benefit

Brands

• Manny's Steakhouse: The Twin Cities' preeminent steakhouse, regularly ranked among America's best. Located downtown at the W Minneapolis.
• The Living Room
• Prohibition
• Pittsburgh Blue Steakhouse
• Good Earth

Products and services

• Manny's Steakhouse Premium steakhouse located downtown at the W Minneapolis hotel, serving proprietary Heritage Beef steaks, dayboat-fresh seafood, and signature sides in the main dining room, bar, and two private dining venues. The Twin Cities' preeminent steakhouse, ranked among America's best and Top 10 in the world by Men's Health magazine.
• The Living Room Urban chic lounge located at the W Minneapolis in the Foshay's lobby level, featuring Art Deco design details, velvet and leather seating, cocktails, a lounge food menu, and weekend DJ Series events. Dramatically reimagined in 2025.
• Prohibition Full-floor speakeasy-style lounge on the 27th story of the historic Foshay Tower in Minneapolis, featuring African mahogany interiors, 360-degree views, and Art Deco design. Offers craft cocktails, a grazing menu, and full-floor private event space rental.
• Pittsburgh Blue Steakhouse Aged steaks selected by master butchers, hand-trimmed chops, and fresh fish served in deep-booth dining rooms with a deep wine list and full bar. Operates three locations across the Twin Cities metropolitan area.
• Good Earth Natural foods restaurant focused on responsibly grown ingredients served for breakfast, lunch, and dinner in a casual setting. Operated at the Galleria in Edina, suitable for couples and families seeking hearty, healthy everyday dining.
• Manny's Black Card A proprietary branded card issued by Manny's Steakhouse, purchased through the Parasole online store and redeemable for Manny's Steakhouse dining and related services.
• Parasole Gift Cards Prepaid gift cards sold through the Parasole e-commerce storefront, redeemable for dining and bar services at Manny's Steakhouse, The Living Room, Prohibition, Pittsburgh Blue Steakhouse, and Good Earth.

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Ruth's Chris Steak House: Premium national steakhouse chain serving USDA Prime beef in upscale dining settings. Directly comparable to Manny's on menu, price point, and special-occasion customer base, though it operates at much greater scale.
• The Capital Grille: Darden-owned premium steakhouse brand known for dry-aged steaks, extensive wine list, and club-like ambiance. Direct peer to Manny's on steakhouse positioning and private-event business.
• Morton's The Steakhouse: Classic American steakhouse chain with strong private-event and bar business. Closely comparable to Manny's and Pittsburgh Blue on core menu, dining experience, and event-driven revenue mix.
• Del Frisco's Double Eagle Steakhouse: Upscale steakhouse chain featuring premium beef, extensive wine programs, and signature rooftop bars. Comparable to Manny's on destination steakhouse positioning and to Prohibition on rooftop lounge concept.
• Smith & Wollensky Restaurant Group: Iconic American steakhouse operator with locations in landmark buildings and hotels. Directly comparable to Manny's (urban destination steakhouse) and Prohibition (high-floor landmark venue) on real-estate-driven differentiation.
• The ONE Group Hospitality (STK Steakhouse): Operator of STK and contemporary steakhouse/lounge concepts that combine upscale dining with nightlife and DJ programming. Closely mirrors the Manny's/Living Room/Prohibition model of pairing destination steakhouse with adjacent high-energy lounges.
• Lettuce Entertain You Enterprises: Privately held Chicago-based multi-concept restaurant group operating 60+ brands across casual, upscale, and specialty dining. Closely comparable to Parasole's portfolio-of-concepts model with founder-led private ownership.

Broad incumbents

• Bloomin' Brands (Outback, Carrabba's, Bonefish): Public multi-concept restaurant holding company with steakhouses (Outback) as a major segment. Comparable at the holding-company level but operates at vastly greater scale and across casual rather than premium positioning.
• Darden Restaurants: Largest U.S. full-service restaurant holding company (Olive Garden, LongHorn Steakhouse, The Capital Grille). Comparable as a multi-concept operator with steakhouses in the portfolio, though Darden operates at national scale and is publicly traded.

Emerging players

• Kona Grill: Upscale casual American grill and sushi chain with bar-forward concepts. Comparable in menu positioning (steaks, fresh fish, lounge bars) to Manny's, Pittsburgh Blue, and Living Room, though at smaller scale and lower price tier.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/parasole-dining-at-the-w

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Parasole Restaurant Holdings, Inc.