Business Beat: Newport Restaurant Group Celebrates 30 Years of Employee Ownership

$33 million has been paid out to employee-owners since 1996

Newport Restaurant Group (NRG), an award-winning collection of unique restaurants and hospitality venues located throughout Rhode Island and Massachusetts, is celebrating 30 years of employee ownership this year.

Newport Restaurant Group has long been a leader in the hospitality industry, defined by its unwavering commitment to quality. Founded in 1925 as Newport Oil Corporation, the company began by providing a reliable source of fuel for Newport’s bus service. Over the years, it has grown from an innovator in transportation resources to a world-class hospitality company, building an impressive portfolio that today includes an award-winning boutique hotel, 17 restaurants, and special event venues across Rhode Island and Massachusetts.

“Employee ownership is not part of our culture; it is our culture. It’s defined by an energetic synergy among colleagues, a shared respect for innovative ideas, and the freedom for unique expression, all of which allows us to remain an industry leader,” said Mick Lamond, President & CEO, Newport Restaurant Group.

As one of the very few employee-owned hospitality groups on the East Coast, NRG employee ownership represents a fundamental shift in the business model and operating philosophy, resulting in higher levels of retention, employee engagement and satisfaction, and community giving. Of NRG’s 1900 employees, approximately 1,100 are year-round with 850 added during peak season and in an industry where the average employee turnover rate is 110% annually, NRG’s is a very low 12-14%.

“Our incredible retention is driven by our employee-ownership model, and by the simple fact that we are able to treat our employees better,” continued Lamond. “In most corporate settings, decisions are made for the benefit of either the shareholder or employees, very rarely both. In our case, the shareholders are the employees. Every decision we make at the executive level impacts both groups because they are one and the same. Striving for a true win-win is more challenging, but is infinitely more rewarding.”

“This shift toward a majority of employees being full-time and year-round is the result of adding more business units in Rhode Island and Massachusetts that are traditional versus seasonal in nature,” said Kristin Allain, Chief People Officer, Newport Restaurant Group. “Many seasonal workers have transitioned to full-time positions, which speaks volumes about our culture of support for one another and our shared goals. We care about the ‘we’ not the ‘me’ in everything we do.

“As a decades-long employee myself, who started out part-time, I am incredibly proud of this change,” continued Allain. “It demonstrates our strength as a hospitality and culinary company, as well as our ability to succeed beyond our hometown of Newport.”

From bar staff to corporate employees, NRG’s benefits include flexible scheduling, a 35% discount at all NRG locations, training and development for career advancement, a 401(k) with an exceptional company match, and generous health, dental, vision, and paid time off for full-time staff, in addition to employee ownership opportunities and longevity bonuses. To date, approximately $33 million has been dispersed to employee owners, with the average account balance for tenures of over 20 years averaging $606,000.

“I love working for Newport Restaurant Group,” said Dan Reagan, Bartender, Hemenway’s. “Shared ownership creates pride, accountability, and a genuine commitment to hospitality. When everyone has a stake in the outcome, it shows in the food we serve, the service we provide, and the culture we build. “

“We are incredibly proud to have reached this milestone,” continued Lamond. “Employee ownership is embedded in our operations and in our DNA, bringing an elevated level of accountability, passion, and genuine care in everything we do.”

NRG continues to grow its portfolio, recently announcing the opening of Avvio Ristorante in late fall 2026 in Millbury, Massachusetts.

“Employee ownership sets NRG apart from most other employers because we are intensely invested in the sustainable profitability of the company,” added Lamond. “With ownership comes great pride in the guest experience, which ultimately fuels our success and continued growth.”

About Newport Restaurant Group

Newport Restaurant Group’s award-winning portfolio of restaurants include Castle Hill Inn, The Mooring, 22 Bowen’s, Bar ‘Cino, La Vecina, and Smoke House all located in Newport; J.T. Commons in Middletown; Celeste in Narragansett; the Boat House in Tiverton; Waterman Grille and Hemenway’s, both located in Providence; Avvio Ristorante located at Garden City Center in Cranston; Iron Works in Warwick; Papa Razzi in Wellesley, MA; and Bar ‘Cino in Brookline, Watertown, and Westwood, MA. Newport Restaurant Group’s mission is to provide the highest quality culinary experience in unique, service-oriented atmospheres and to create each menu with a creative, thoughtful, and responsible approach. Newport Restaurant Group is proudly 100% employee owned. For more information, please visit www.newportrestaurantgroup.com.