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Marcus Theatres Corporation announced this week that they will be designing and managing a new 5-screen movie theater in the Midtown Crossing at Turner Park development in Omaha, Nebraska. The new theater is scheduled to open in November of 2009.
According to the press release (included below), Bruce J. Olson, president of Marcus Theatres, is quoted as saying:
"The Midtown Crossing theatre complex will be unique to Omaha, as well as the entire region. The theatre will feature unique public spaces with upscale finishes, along with new and sophisticated architectural detailing highlighted by marble and tall vistas of glass..."
Amenities will include a cocktail lounge, a lobby with a baby grand piano, and in-theater dining from a menu that will include appetizers, meals, and desserts, as well as wine, beer, cocktails, and specialty drinks. The fifth auditorium will be the largest and will offer reserved VIP seating, according to Olson.
This announcement follows a recent expansion by Marcus into the Nebraska area. The company purchased 7 Douglas Theatres locations in a deal announced in March 2008.
The full press release appears below.
Marcus Theatres(R) to Manage Upscale, Five-Screen Theatre in Midtown Crossing Urban Development Project in Omaha, Neb.
Company brings stylish entertainment to Omaha
MILWAUKEE--(BUSINESS WIRE)--July 22, 2008--Marcus Theatres Corporation, a division of The Marcus Corporation (NYSE:MCS), today announced that it has signed an agreement to design and manage a five-screen, four-level upscale theatre and entertainment complex in Midtown Crossing at Turner Park, a 15-acre, mixed-use urban development project located in Omaha, Neb. The new theatre is scheduled to open in November 2009.
"The Midtown Crossing theatre complex will be unique to Omaha, as well as the entire region. The theatre will feature unique public spaces with upscale finishes, along with new and sophisticated architectural detailing highlighted by marble and tall vistas of glass," said Bruce J. Olson, president of Marcus Theatres.
"Guests will enter the theatre on the ground level and take an escalator to the second level, which will feature a trendy, posh cocktail lounge. This sophisticated, contemporary lounge will be the perfect place for adults to relax and unwind while enjoying the sights of the city. The second level will also feature meeting space for private events or business meetings," said Olson.
"As guests proceed to the third floor, they will enter the theatre level, which consists of the box office, a lobby area featuring a baby grand piano and five luxurious auditoriums. In each auditorium, guests will be able to experience an outstanding in-theatre dining experience supported by table service from a full wait staff.
The extensive menu features appetizers, meals, desserts and an outstanding selection of beer, wine, cocktails and specialty drinks. Each auditorium also has traditional theatre seating so guests have the option of enjoying the latest Hollywood blockbusters without dining during the film," added Olson.
Olson noted that the highlight of the new Midtown Crossing theatre is the fifth auditorium, which will be the largest seating capacity and includes VIP reserved seating in the balcony level. "The balcony level will include plush, wide seats and an extraordinary level of personal service for guests who have selected exactly the seats in which they wish to sit. The fifth auditorium is the premiere experience in moviegoing." In addition, the mezzanine level, from which people will enter the reserved VIP balcony section, will feature another stylish, urban lounge with Omaha skyline views.
"Marcus Theatres is looking forward to creating an entertainment destination for residents of Omaha's most exciting new urban neighborhood," said Olson. "Guests will be able to experience an outstanding in-theatre dining experience in each of our auditoriums, be wined and dined in our sophisticated, metropolitan cocktail lounges and enjoy the latest blockbusters in comfortable, relaxing seats with state-of-the-art digital projection and sound. This new stylish theatre will be a treat for residents and guests of Midtown Crossing and Omaha."
Last month, Marcus Theatres closed on an acquisition of approximately 11 acres of vacant land in the Southport West development in La Vista, Neb. Both the Midtown Crossing and the Southport West developments follow the prior acquisition by Marcus Theatres of seven Douglas Theatre locations in Omaha and Lincoln, Neb. on April 3, 2008.
About Midtown Crossing at Turner Park
Owned by Mutual of Omaha and developed by ECI Investment Advisors, Midtown Crossing at Turner Park is a 15-acre, $300 million mixed-use urban development in the heart of Omaha's historic midtown neighborhood. Built around an expanded and revitalized Turner Park, the million-square-foot development includes nearly 600 condominium and apartment units as well as more than 220,000 square feet for restaurants, retailers and entertainment venues along with parking for more than 3,000 vehicles. For more information, please visit www.midtowncrossing.com.
About Marcus Theatres
Marcus Theatres(R), a division of The Marcus Corporation (NYSE:MCS), is the seventh largest theatre circuit in the United States and currently owns or operates 678 screens at 56 locations in Wisconsin, Illinois, Minnesota, Ohio, North Dakota, Iowa and Nebraska, and one family entertainment center in Wisconsin. For more information, please visit www.marcustheatres.com.
About The Marcus Corporation
Headquartered in Milwaukee, Wisconsin, The Marcus Corporation is a leader in the lodging and entertainment industries. In addition to its Marcus Theatres division, the company's lodging division, Marcus Hotels and Resorts, owns or manages 20 hotels, resorts and other properties in ten states, with three additional properties under development. For more information, visit the company's web site at www.marcuscorp.com.
Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may generally be identified as such because the context of such statements will include words such as we "believe," "anticipate," "expect" or words of similar import. Similarly, statements that describe our future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause results to differ materially from those expected, including, but not limited to, the following: (1) the availability, in terms of both quantity and audience appeal, of motion pictures for our theatre division, as well as other industry dynamics such as the maintenance of a suitable window between the date such motion pictures are released in theatres and the date they are released to other distribution channels; (2) the effects of increasing depreciation expenses and preopening and start-up costs due to the capital intensive nature of our businesses; (3) the effects of adverse economic conditions in our markets, particularly with respect to our hotels and resorts division; (4) the effects of adverse weather conditions, particularly during the winter in the Midwest and in our other markets; (5) the effects on our occupancy and room rates from the relative industry supply of available rooms at comparable lodging facilities in our markets; (6) the effects of competitive conditions in our markets; (7) our ability to identify properties to acquire, develop and/or manage and continuing availability of funds for such development; (8) the adverse impact on business and consumer spending on travel, leisure and entertainment resulting from terrorist attacks in the United States, the United States' responses thereto and subsequent hostilities; and (9) the successful integration of the Douglas Theatre Company theatres into our theatre circuit. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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