Papi Steak

What Papi Steak does

Papi Steak is a privately held, dual-location high-energy steakhouse concept operating in Miami Beach, Florida and inside the Fontainebleau Las Vegas on the Las Vegas Strip. Founded by David "Papi" Einhorn and David Grutman of Groot Hospitality, the concept fuses vintage Hollywood glamour with modern Miami and Las Vegas nightlife energy, positioning itself as a destination restaurant and entertainment experience rather than a traditional steakhouse. The Miami Beach flagship at 736 1st Street in South of Fifth was recently renovated to a 100-seat main dining room with private dining and bar; the Las Vegas location extends the brand to the Strip.

The core product is premium aged beef — most notably the namesake 32oz Glatt Kosher Tomahawk with a proprietary Secret Sauce — alongside luxury accompaniments including Osetra and Kaluga caviar service, Wagyu samplers, and an ultra-premium "The Beef Case" Australian Wagyu Tomahawk at $1,000. The restaurant runs a DJ until late hours and theatrical tableside presentations (champagne spectacles) as part of the dining experience. Menu items range from $18 appetizers to $255 prime steaks, with a mandatory 20% service charge applied to all food and beverage sales.

Revenue is generated almost entirely through on-premise dine-in service at the two locations, supplemented by private events (minimum 12 guests), gift card sales via Toast Tab, and the Inner Circle newsletter program. Reservations are managed through SevenRooms and private event bookings through Tripleseat. Marketing relies on organic social channels (Instagram, TikTok, Facebook), celebrity and influencer associations tied to its founders, and word-of-mouth among affluent diners and celebration-seekers. No app, delivery, or third-party distribution channels are in use.

Name

Papi Steak

Legal name

Papi Steak

Website

https://papisteak.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Papi Steak is a dual-location, celebrity-backed high-energy steakhouse concept operating in Miami Beach and inside the Fontainebleau Las Vegas, serving affluent diners and celebration-seekers with premium aged beef, signature theatrical presentations, and a DJ-driven nightlife atmosphere.

Ownership category

akta.pro rank

Product category

Upscale Steakhouse / Fine Dining

NAICS

Full-Service Restaurants (722511)

SIC

Retail-Eating & Drinking Places (5810)

akta.pro primary industry

Steakhouses & Seafood Restaurants (THAFACAE)

akta.pro secondary industry

Fine Dining Restaurants (THAFACAA)

Keywords

• Upscale steakhouse dining
• Fine dining restaurants
• Premium beef dining
• Private dining events
• Luxury restaurant experience

Headquarters

HQ city

Miami Beach

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Dine-in Restaurant Sales: Papi Steak generates revenue through food and beverage sales at its two restaurant locations in Miami Beach and Las Vegas. The menu features premium steaks, caviar, and luxury dining items. A mandatory 20% service charge is applied to all food and beverage sales, which is paid to eligible employees in lieu of gratuities.
2. Private Events: Revenue from hosting private events including birthdays, business dinners, and celebrations. Miami and Las Vegas locations offer dedicated private dining spaces. Las Vegas requires minimum of 12 people for private event bookings.
3. Gift Cards: Gift card sales through Toast Tab platform, providing another revenue stream for the restaurant.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Papi Steak operates a high-end full-service steakhouse at two physical locations (Miami Beach and Las Vegas) serving premium aged beef, signature Tomahawk cuts, caviar service, and Wagyu selections alongside full bar and DJ entertainment. The restaurant also hosts private dining events and sells gift cards through direct and third-party platforms.

Product overview

Papi Steak is a dual-location high-energy steakhouse concept operating in Miami Beach and Las Vegas. The core offering is an upscale steakhouse experience featuring premium beef cuts including signature 32oz Glatt Kosher Tomahawk (Papi Steak), Wagyu selections, and luxury accompaniments like caviar service. The portfolio includes the flagship Papi Steak restaurant concept, two physical locations (Miami Beach with 100-seat main dining, Las Vegas at Fontainebleau), private events hosting, and an exclusive Inner Circle membership program. Additional signature products include The Beef Case (55oz Australian Wagyu Tomahawk) and various Wagyu samplers.

Differentiator

Problem solved

Functional benefit

Products and services

• Papi Steak Miami Beach (Dine-in Restaurant) 100-seat flagship South of Fifth steakhouse location offering the full menu including signature Papi Steak Glatt Kosher Tomahawk, Wagyu selections, and premium accompaniments. Open for regular dine-in service and private events.
• Papi Steak Las Vegas (Dine-in Restaurant) Las Vegas Strip restaurant location inside the Fontainebleau Las Vegas hotel, offering the same core menu as Miami with additional specialty items including Japanese A5 Wagyu Sampler and Beef Case tomahawk offerings.
• Private Events Private event booking service for corporate events, client entertainment, birthdays, and group celebrations at dedicated private dining spaces in both Miami and Las Vegas locations. Bookings managed through Tripleseat.
• Gift Cards Gift cards for Papi Steak sold online through the Toast Tab platform, available for purchase by consumers for gifting occasions.

Quantifiable outcome

• 100-seat capacity at Miami location demonstrates significant operational scale for a single restaurant concept

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Partnerships

Four partnerships are on record, tiered core and major.

• Groot HospitalitycoreStrategic or Co-development PartnerDavid Grutman's Groot Hospitality is a co-owner and operating partner in Papi Steak. Grutman's eye for unique experiences that fuse dining and design is credited as a key element of the restaurant's success and brand positioning.
• Fontainebleau Las VegascoreStrategic or Co-development PartnerPapi Steak Las Vegas operates inside the Fontainebleau Las Vegas hotel property, bringing the Miami-born concept to the heart of the Las Vegas Strip as a destination within the luxury hotel.
• SevenRoomscoreTechnology or IntegrationReservations platform used by both Papi Steak Miami and Las Vegas locations for booking dining reservations.
• TripleseatmajorTechnology or IntegrationPrivate event management software used for inquiries and bookings for private dining events at both locations.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Cote Korean Steakhouse: Upscale Korean BBQ steakhouse in Miami, NYC, Las Vegas, and other markets combining high-end beef program with high-energy dining room, comparable to Papi Steak on premium cuts, trendy atmosphere, and celebrity/influencer appeal.
• Bobby Van's Steakhouse: Independent upscale steakhouse operator with multi-city presence, focused on traditional power-lunch and dinner clientele; comparable to Papi Steak on premium steakhouse fundamentals but more conservative in branding.
• STK Steakhouse: Modern, high-energy 'vibe' steakhouse chain with locations in major cities including Miami and Las Vegas, targeting affluent celebrants with DJs, bottle service, and premium beef; closest structural analog to Papi Steak's experiential fine-dining model.
• Mastro's Steakhouse: Upscale American steakhouse chain with multiple U.S. locations including Las Vegas, focused on premium beef, lively bar scene, live entertainment, and affluent diners; comparable operating model and guest profile to Papi Steak.
• Nusr-Et (Salt Bae / Nusret Gökçe): Celebrity-chef-driven global steakhouse chain most directly comparable to Papi Steak on theatrical tableside presentations, social-media-driven marketing, premium pricing, and luxury experiential positioning across Miami, Las Vegas, and other international markets.
• Carbone (Major Food Group): Celebrity-backed high-end Italian restaurant group from Major Food Group with locations in Miami and Las Vegas (Aria), sharing the celebrity-operator, multi-city, theatrical-dining positioning with Papi Steak.

Broad incumbents

• The Capital Grille: Darden-owned national fine-dining steakhouse chain offering dry-aged steaks, private dining, and an extensive wine list; comparable upscale steakhouse category and private-events revenue stream to Papi Steak but broader and more traditional in positioning.
• Del Frisco's Double Eagle Steakhouse: National upscale steakhouse chain with locations in Miami, Las Vegas, and other major markets, featuring premium beef, extensive wine program, and private dining; comparable upscale steakhouse positioning to Papi Steak.
• Smith & Wollensky Restaurant Group: Established traditional American steakhouse with multiple U.S. locations including Miami Beach (SoFi) and Las Vegas, offering premium steaks and waterfront/resort positioning; comparable category and dual-market footprint to Papi Steak.

Regional players

• Prime 112 (Myles Restaurant Group): Long-standing celebrity-chef-backed upscale steakhouse on Ocean Drive in Miami Beach, very direct competitor for high-end diners and celebration business in the same South Florida market as Papi Steak's Miami location.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/papisteakmiami
• Instagraminstagram.com/papisteak
• LinkedInlinkedin.com/company/papi-steak

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 Papi Steak