PHP code:

<?php 
  $restaurant_name = get_field('restaurant_name'); // Try to get the name for this location
  if (!$restaurant_name) { // Name doesn't exist for this location
    $restaurant_name = get_field('restaurant_name', 'option'); // So get it from the default options page instead
  }
?>
<h1 class="location__name"><?php echo $hours_of_operation; ?></p>

<?php 
  $hours_of_operation = get_field('hours_of_operation'); // Try to get hours of operation from this Location
  if (!$hours_of_operation) { // Hours of operation don't exist for this location
    $hours_of_operation = get_field('hours_of_operation', 'option'); // So get it from the default options page instead
  }
?>
<p class="location__hours-of-operation"><?php echo $hours_of_operation; ?></p>