Smith & Wollensky, the renowned steakhouse chain, has made a bold statement with its announcement to reopen in the heart of Ohio’s capital, Columbus.

In June 2024, Nathan Evans, the president of the brand, revealed that after an extensive search, the Hyatt Regency Hotel in downtown Columbus would be the new home for Smith & Wollensky. The venue promises to feature an elegant dining room, a spacious patio, and offer valet service, setting the stage for an upscale dining experience.

Known as “America’s steakhouse,” Smith & Wollensky is celebrated for its luxurious offerings, including $17 hash browns and a 26-ounce prime rib priced at $82. Despite its popularity, the Columbus branch closed its doors in 2023 after two decades of providing a white-tablecloth dining experience to its patrons.

Originating from New York, the chain has cemented its status as a cultural icon, partly due to its appearance in the film “The Devil Wears Prada.” In the movie, Anne Hathaway’s character, Andy Sachs, is tasked with retrieving a steak from the restaurant for her demanding boss, Miranda Priestly, portrayed by Meryl Streep.

“Our departure left a void in the community,” Evans remarked, reflecting on the restaurant’s 20-year tenure in Columbus. He emphasized the city’s importance to the brand, expressing that Columbus holds a “special place in our hearts.”

‘Now, we are excited not just to serve our loyal guests again but to be part of the fabric of downtown and the vibrant Arena District.’

Fast-forward to 2025, and the Buckeye State is still without a Smith & Wollensky – and it’s likely to remain that way.

A spokesperson confirmed to the Daily Mail the brand had made the ‘difficult decision’ to suspend its planned return to Columbus and instead focus on ‘international expansion and strategic growth opportunities.’

The company brands itself as ‘America’s Steakhouse’ and offers a menu with pricey cuts of meat

 The exterior of the old Columbus, Ohio, location that shuttered in 2023

The restaurant was immortalized in The Devil Wears Prada when Anne Hathaway’s character is sent across Manhattan to fetch a steak for her boss, Miranda Priestly

The move reflects a wider trend across the American restaurant industry, experts told the Daily Mail, as brands pivot to overseas markets to escape soaring costs and a saturated domestic scene. 

Analysts say restaurant chains are chasing growth in Asia and the Middle East, where American dining is considered aspirational – and where governments are offering better incentives, cheaper labor, and lower rents than at home.

Smith & Wollensky has recently opened a new restaurant in Manila, the capital of the Philippines, and is planning further launches in Tokyo, Japan, and Kuala Lumpur, Malaysia.

Despite the global push, the company remains invested in the U.S. market – mainly in major metropolitan hubs such as New York, Boston, Las Vegas, and Chicago.

Hospitality experts say the brand’s decision mirrors a wider industry trend.

Ada Hu, CEO of NU Media, a marketing firm that works with global hospitality clients, told the Daily Mail that American restaurant groups are increasingly looking abroad for growth.

‘In Asia and the Middle East, American food and beverage brands are perceived as aspirational and innovative,’ she said.

‘Tariffs and high domestic operating costs have made international markets more attractive. Global exposure helps offset volatility at home.

A rendering of what the Columbus location was supposed to look like

When it announced it would return to Ohio, brand president Nathan Evans said that the restaurant had a ‘special place in the hearts of great Columbus diners’

Ada Hu, the CEO of NU Media, a marketing company, said she has seen a ‘clear increase’ in mid-size restaurant groups and premium casual brands focusing on their overseas presence

David Helbraun, a hospitality lawyer, told the Daily Mail that many companies are looking to expand overseas due to cheap labor and lower rent 

‘International expansion allows them to diversify revenue streams, tap into emerging middle-class spending, and build global brand equity.’

Hospitality lawyer David Helbraun said the shift is being driven by a U.S. dining landscape that’s ‘saturated, expensive, and increasingly difficult to navigate.’

‘Everything from permitting delays to labor shortages to rising food costs makes domestic expansion feel like pushing a boulder uphill,’ Helbraun said.

‘Meanwhile, markets abroad — especially in Europe and Asia — are offering financial incentives, streamlined processes, and often, a better labor pool. The real drivers are lower overseas labor costs and rents, which have become untenable in many U.S. cities.’

Hu said she’s seeing a ‘clear increase’ in mid-size restaurant groups and premium casual brands focusing on their overseas presence — and predicts big names like Smith & Wollensky will continue to pull out of smaller cities in favor of powerhouse metros.

‘Labor and real estate costs make smaller cities less attractive, while international markets offer both scale and novelty,’ she said. ‘Many brands are concentrating resources on flagship locations in major metros and using those as launchpads for overseas growth.’

However, Hu added that the move isn’t purely about escaping an unstable U.S. economy.

‘Even in a strong domestic market, expansion abroad builds brand prestige and diversifies exposure,’ she said. ‘It’s less about fleeing economic headwinds and more about long-term positioning in global hospitality culture.’