From big box to high end theater
Here's an LA Times story reprinted in the Tribune about super high end movie theaters coming to the LA area. We're talking $35 a pop, by the way, and amenities such a Belgian beers and gourmet pizzas.
Sadly, I didn't see any Chicago angle here, which means the cutbacks are precluding local reporting or people on the dirt beat at the Trib don't know about any local deals so they could add a graf or two to their story. Oh, well.
Another angle is the risk factor. I see these deals as risky in a way because we all know how theaters can go under and don't want to pay much rent. But in mitigation they can bring very heavy foot traffic and ancillary revenue, and if they blow out you have a shell that in some cases may not be so hard to retenant.
Personally? I almost never go to the movies anymore. And I love films. But we are blessed with a nice media room in our house. No screaming kids, no sticky floors, and you can pause for a bathroom break at will!
Sadly, I didn't see any Chicago angle here, which means the cutbacks are precluding local reporting or people on the dirt beat at the Trib don't know about any local deals so they could add a graf or two to their story. Oh, well.
Another angle is the risk factor. I see these deals as risky in a way because we all know how theaters can go under and don't want to pay much rent. But in mitigation they can bring very heavy foot traffic and ancillary revenue, and if they blow out you have a shell that in some cases may not be so hard to retenant.
Personally? I almost never go to the movies anymore. And I love films. But we are blessed with a nice media room in our house. No screaming kids, no sticky floors, and you can pause for a bathroom break at will!
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