$21 mil will fund chain of theme restaurants
HT Capital Advisors, formerly Hill Thompson Capital Markets, has been retained to secure $21 million in financing for a chain of RKO Pictures theme restaurants, to be called RKO Hollywood Palace. The first unit will be established in New York City’s Times Square and additional U.S. and overseas units are planned.
“We selected HT Capital Advisors among many investment banks we interviewed because of their private-placement expertise, industry knowledge and relationships and contacts, both domestically and overseas,” said RKO chief exec Ted Hartley.
RKO Hollywood Palace will combine the company’s legendary 70-year history and 1,000-plus film library (including 240 Academy Award-nominated movies) to create a unique venue that will accommodate 600 patrons with ever-changing live stage sets based on classic and current RKO films.
Torrey Rossetter of HT Capital Advisors commented, “RKO Hollywood Palace is more of an interactive movie entertainment experience, with its focus on providing dynamic, constantly changing entertainment, customer interactivity, lots of special effects and multimedia technology as well as high quality California cuisine. The project brings together a world-class operating team with one of the most well known movie names in Hollywood.”