Tao Las Vegas Restaurant & Nightclub continues its run as the highest-grossing restaurant in the United States, according to an analysis by R&I magazine. Tao, located inside The Venetian Resort Hotel Casino, tops the list for the fifth straight year, posting 2009 sales of US$59.3 million and an average dinner check of US$70.
In fact, the only other hotel-based restaurant to crack the top 10 is located at another Las Vegas Sands Corp. property—Lavo Italian Restaurant & Nightclub inside The Palazzo Resort Hotel Casino placed seventh on the list, with US$22 million in sales and an average check of US$60.
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Saturday, April 3, 2010
Ian Schrager plans to prime Chicago's Pump Room
Studio 54 nightclub co-founder and renowned hotelier Ian Schrager says he's likely to keep the name and “ethos” of the Ambassador East hotel and its legendary Pump Room restaurant.
Mr. Schrager on Thursday closed his purchase of the hotel and restaurant in a deal sources say was valued at more than $25 million.
In an interview Friday afternoon, Mr. Schrager said that while his plans aren't yet final for the hotel and Pump Room—a one-time celebrity hotspot that opened in the late 1930s—he's now leaning toward keeping the names after considering a change.
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Mr. Schrager on Thursday closed his purchase of the hotel and restaurant in a deal sources say was valued at more than $25 million.
In an interview Friday afternoon, Mr. Schrager said that while his plans aren't yet final for the hotel and Pump Room—a one-time celebrity hotspot that opened in the late 1930s—he's now leaning toward keeping the names after considering a change.
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City tries to break Tavern on the Green impasse
Mayor Bloomberg is increasingly frustrated with the lack of progress in the labor negotiations at Tavern on the Green. New operator Dean Poll and union head Peter Ward have not been able to reach an agreement for a labor contract covering the 400 workers at the now closed restaurant.
According to people familiar with the situation, Deputy Mayor Edward Skyler late last month tried to break the impasse by having a meeting with Mr. Ward and Mr. Poll. Still, a signed contract has yet to materialize.
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According to people familiar with the situation, Deputy Mayor Edward Skyler late last month tried to break the impasse by having a meeting with Mr. Ward and Mr. Poll. Still, a signed contract has yet to materialize.
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Buy low, get drunk, save money: the market where everyone ends up loaded
The bell rings out over the din, for all the world like the familiar sound of the New York Stock Exchange's opening bell – and the bartender screams out: "The market is CRASHING!!"
On the stock exchange floor, such a declaration might not be met with whoops of delight, but this is Exchange Bar & Grill, New York's most talked-about new watering hole, where the price of the drinks swings up and down according to supply and demand. A market crash means cheap trebles all round. "It's a crash," repeats one of the sozzled bankers at the bar.
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On the stock exchange floor, such a declaration might not be met with whoops of delight, but this is Exchange Bar & Grill, New York's most talked-about new watering hole, where the price of the drinks swings up and down according to supply and demand. A market crash means cheap trebles all round. "It's a crash," repeats one of the sozzled bankers at the bar.
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Fall from grandeur: Recession, foreclosure shutter Grand Bay
Pigeons live in the barren penthouse nightclub of the former Grand Bay, South Florida's last five-star hotel.
A vagrant recently went to the bathroom in the vacant lobby, where black graffiti colors the walls. The dining room hints of smoke, the remnant of a campfire built on the polished cherry floors.
No local hotel has suffered as steep a fall as Coconut Grove's Grand Bay, which closed two years ago for a $20 million renovation and never reopened.
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A vagrant recently went to the bathroom in the vacant lobby, where black graffiti colors the walls. The dining room hints of smoke, the remnant of a campfire built on the polished cherry floors.
No local hotel has suffered as steep a fall as Coconut Grove's Grand Bay, which closed two years ago for a $20 million renovation and never reopened.
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