Alamo Drafthouse Cinemas looking towards major expansion
AUSTIN, TX — Currently operating or licensing seven locations, the Austin-based Alamo Drafthouse Cinemas hopes to expand to thirty locations by the end of 2010, by moving aggressively to a franchising model. In addition to opening six additional locations in its home state of Texas, the company will soon have its name on a new brew-and-view theater in Winchester, VA, its first out-of-state venture.
Martin, president and CEO of Alamo Drafthouse Cinemas, said revenue grew 8 percent last year, the best in the 12-year-old company’s history. He declined to disclose figures or the value of Monday’s deal.
“For years, we’ve been out franchising, and trying to find a good fit for the franchise families,” Martin said. “Norman Abdallah of Triple Tap definitely fit that mold.”
Get more details in the Austin Statesman.