Cinematour Forum: Last of a dying chain.

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»	Cinematour Forum » Cinemas and Theatres » Last of a dying chain. (Page 3)

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Topic: Last of a dying chain.

Bill Gabel
Member

Posts: 288
From: New York, NY
Registered: Feb 2003

posted January 11, 2011 01:19 PM

The lease can't be more than what they were paying on the Village and Bruin Theatres in Westwood. Chinese Theatres long lease is much more friendlier. Many of Mann's/National General's long term leases had great terms. Mann dropped many houses once their leases expired and they would turn to today's values. The next owner would have to restore the full stage since it is no longer is there.

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Brad Erickson
Member

Posts: 117
From: West Hollywood, CA
Registered: May 2006

posted January 11, 2011 02:31 PM

. Mann is probably going to walk away from the lease and take a loss. Historically, it is a landmark and I would imagine the Hollywood Chamber of Commerce will take the steps to preserve the status of being a theatre. It just needs someone to actually get excited about it. Mann has been just letting it run on auto pilot, let's face it Mann has been slowly closing shop and does not care.

I would think the Chinese 6 would perhaps close and turn into retail space. It has been nothing really but a move over venue.

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Christopher Crouch
Member

Posts: 292
From: Anaheim, CA
Registered: Feb 2006

posted January 11, 2011 10:02 PM

If the rumor is true (that's a big if), it could just mean they will stop operating it as a first run and focus entirely on tours, festivals, special events/screenings, rentals, etc. Or, the rumor might be entirely related to the adjascent six.

I find it very unlikely Grauman's Chinese would close or ever be converted to non cinema use. There may not be a line of operators ready to pick up the remaining years on Mann's lease, but the landlord and city would never allow it to sit dormant. If Mann were to fully back out, I'm sure there would be a new operator and some plan quickly lined up. Mann leaving acually might be the best thing, as it would open the door to new ideas and the sort of operators that would be better suited for the site.

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Brad Erickson
Member

Posts: 117
From: West Hollywood, CA
Registered: May 2006

posted January 12, 2011 09:25 AM

I agree. The Chinese is suffering only because Mann has turned its back on exhibition. The Chinese needs someone to take interest in it again. It should be a showplace like the El Capitan. Re; the Chinese 6. They seem more likely to fold, or perhaps be leased out separately.

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Edward Havens
New Member

Posts: 50
From: Walnut Creek, CA
Registered: Oct 2009

posted January 12, 2011 10:01 AM

I hate knowing things and not being able to talk about them...

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Jeff Arellano
Senior Member

Posts: 685
From: Monterey Park, CA
Registered: Jun 2003

posted January 12, 2011 11:30 AM

Ill make the first most likely incorrect speculation: Rave is taking over the Chinese. Or maybe regency

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Brad Erickson
Member

Posts: 117
From: West Hollywood, CA
Registered: May 2006

posted January 12, 2011 12:33 PM

I would say NO to Regency because I think they are just able to operate the Village and Bruin. RAVE sounds a like good guess.

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Edward Havens
New Member

Posts: 50
From: Walnut Creek, CA
Registered: Oct 2009

posted January 13, 2011 02:06 AM

If Rave were taking over the Chinese, and I knew something about it, I wouldn't be posting here. I'd keep my trap shut, because I've seen even the slightest mention of a deal collapse a deal in the past.

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