NEW YORK--(BUSINESS WIRE)--The ONE Group Hospitality, Inc. (“The ONE Group”) (OTCQB:STKS), today provided an update on an event that occurred on the afternoon of Wednesday December 10, 2014 at STK Miami. A hotel subcontractor working on an unrelated job above the restaurant mistakenly broke a sprinkler head resulting in a high-pressure flow of water that caused extensive damage and flooding within the venue. As a result, The ONE Group is revising its projected reopening timeline for STK Miami f