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Marcus Theatres Corporation, a division of The Marcus Corporation (NYSE:MCS), today announced its updated plans and a groundbreaking date for a completely new theatre concept to be built in the town of Brookfield, Wis., a Milwaukee-area suburb. The new theatre, to be named "The Majestic," will be an entertainment destination featuring 16 stadium-style auditoriums, including two 72-feet-wide UltraScreens(R) and a multi-purpose auditorium. The theatre complex will also include a restaurant, cafe and lounge.
The project will officially begin on July 12th with a groundbreaking ceremony at 4:30 p.m. Town of Brookfield Board Chairman Keith Henderson and Marcus Theatres executives are scheduled to participate.
"The new Majestic Cinema in Brookfield will be the first of its kind in our circuit and completely unique in the United States. Besides the two UltraScreens(R), the theatre will include a multi-use auditorium called the Palladium, fully equipped for live performances, meetings and movies. But that's just the beginning. The Majestic will be more than a movie theatre, with an Italian cafe serving freshly made-to-order pizza and sandwiches, and a coffee, ice cream and chocolate shop," said Bruce J. Olson, president of Marcus Theatres(R).
"One of the first things our guests will notice will be the striking porte cochere, a canopied entry and drop-off area that will shelter them from inclement weather. Valet parking will also be available. Once inside, guests will enter the grand lobby, with its high, domed ceilings, relaxing music from the baby grand piano and movie previews. Local choral groups and high school jazz ensembles will also perform in the lobby. Two dramatic curving grand staircases will invite people to our UltraScreens(R) and mezzanine area, where function rooms will be available for private events such as birthday parties. The cafes are not just for moviegoers. People will be able to stop in and enjoy pizza, ice cream and coffee while they are waiting to pick up their kids, or experience a great meal in a convenient location, all without having to buy a ticket for a movie," Olson said.
Other amenities at The Majestic will include automated cash or credit kiosks where people can buy tickets and concessions, and a concierge service. Every auditorium will feature stadium seating with wide, comfortable memory-foam cushion seats with rocking seats or reclining backs, more legroom than any other theatre in the area, wall-to-wall curved screens and crystal-clear digital sound.
"The theatre will include a full kitchen to service the Palladium and the two cafes that will be part of the new complex. The Palladium will feature table seating with wait service and an extensive menu of appetizers, sandwiches and other taste treats for people enjoying a movie or attending a live performance in the multi-use auditorium. The Palladium Lounge, adjacent to the auditorium, will be a place for adults 21 or over to enjoy beer, wine or cocktails before or after the performance. Alcoholic beverages will not be permitted outside of the lounge or Palladium areas," Olson added.
The Palladium will feature new Hollywood films plus live performances, concerts, comedy shows, sporting events and other special events. The auditorium will also be fully equipped for business meetings and other presentations. "A very small number of theatres include lounges and restaurants, but The Majestic will be the first in the country to combine restaurants, a multi-use venue and large UltraScreens(R) into one elegant entertainment destination," said Olson.
The Majestic will be located in the Town of Brookfield at the former Schreiber Foods site on Springdale Road, just north of Bluemound Road, adjacent to Sam's Club. The project is scheduled to commence construction this month and open next spring.
In addition to developing the new Brookfield theatre, Marcus Theatres also has new theatres under construction in Green Bay and Sturtevant, Wis. Marcus Theatres(R), a division of The Marcus Corporation (NYSE: MCS), is the ninth largest theatre circuit in the United States and currently owns or operates 501 screens at 44 locations in Wisconsin, Illinois, Minnesota and Ohio.
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 Marcus Hotels and Resorts division owns or manages 13 hotels and resorts in Wisconsin, Illinois, Ohio, Missouri, California, Minnesota, and Texas and one vacation club in Wisconsin. For more information, visit Marcus Theatres' Web site at www.marcustheatres.com or The Marcus Corporation 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 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 which 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 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) our decisions regarding the use of the remaining proceeds received from the sale of our limited-service lodging division. 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.
Source: Marcus Corp. Press Release
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