If You Build a Luxury Cinema Complex, Will They Come?
By
Nancy Tartaglione-Vialatte
|
Wednesday, March 26, 2008
HOLLYWOOD - A group of investors including Village Roadshow Ltd., Act III, Lambert Entertainment and the Retirement Systems of Alabama pension fund have partnered to bring the luxury cinema circuit Village Roadshow Gold Class Cinemas to the US. Spending $200 million to build 50 theaters, the complexes will set tickets at an estimated $35 per.
Plans are to get the theaters up and running over the next five years, with the first two venues set to open in the Chicago and Seattle suburbs. Others are planned for Fairview, Texas, near Dallas-Fort Worth, and Scottsdale, Arizona.
Each complex will feature theaters boasting 40 reclining armchair seats with footrests, digital projection and the capability to screen 2-D and 3-D movies, as well as a lounge and bar serving cocktails and appetizers, a concierge service and valet parking, according to trade reports today.
A big push for the circuit will be its culinary offerings. Made-to-order meals like sushi and other theater-friendly foods from on-site chefs - a service button at each seat calls a waiter--will cost moviegoers extra, however.
The Burbank-based company’s hoping to attract 10 million “upscale and affluent” consumers per year--each will typically house eight screens.
Village Roadshow founded the Gold Class Cinemas chain in Australia in 1997. It has since expanded to other countries, including Singapore and Greece.
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