Popular Broadway Hotspot The Fifth Element Sold to RI Restaurateur

In a major shake-up on the Newport dining scene, The Fifth Element—one of Broadway’s beloved culinary institutions—has been sold once again. The news broke Tuesday morning, with owners announcing the deal with a “Rhode Island-based, community-oriented seasoned restaurateur.” The identity of the buyer remains under wraps, but the buzz around this sale has already started to ripple through the city’s hospitality circles.

This marks the second time The Fifth Element has changed hands in the last few years. In September 2021, a small group of local investors, led by Derek Savas and Newport hospitality veteran Mark St. Laurent, scooped up the restaurant for a cool $4.5 million. St. Laurent has been steering the ship as general manager ever since, maintaining the venue’s iconic status in the city’s dining scene.

With a new owner poised to take control, Newport’s foodies are left wondering—what’s next for the famed Broadway spot?

Stay tuned as more details emerge. Developing…

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