Archive for the ‘Ghostbar’ Category

March 3, 2007

Victory – How much ‘rich’ can we do?

Gary Cohen, whose down with my buddies over at Pegasus, wrote an interesting piece titled, “Are Victory restaurants headed for trouble?”

Gary talks about the various restaurants at Victory and opines about their long-term viability. I like this paragraph:

But how many of these people are there? And aren’t their tastes too fickle to be counted on for steady traffic? The older generation is not going to stop going to Bob’s or Al Biernat’s for a steak, and quite frankly, I’d rather go to those places too and not have to deal with the oppressive trendiness and parking difficulties at Victory.

I was at a luncheon not too long ago, and all these Victory Park (OK, like the main two) guys were bragging how high-end and exclusive the place is. Literally, the guy drew a vision of how people could jet in by helicopter from DFW and land on the roof of the future Mandarin Oriental and get this 5-star service without having to interact with the regular folks. Everyone ooohed and aaahed, but why?

Such visions may garner a newspaper headline or two, but that’s not going to draw consistent visitors to that area. I would argue that the house of blues may…but most of the places seem to be places you visit once for curiosity’s sake, and that’s the end of it. From what I’ve heard about the W/Ghostbar parking fiascos, it might be service that does them in.

Note to Victory owners: People have been saying that the parking and valet service is awful since July.

Victory would be smarter to put some reasonably priced choices in that area. Then what you would have (along with occasional high-roller) is a consistent client base that would bring a family down to Victory, and then the husband and wife could splurge with a night on the town sans kiddos from time to time. That’s a client base.

I could be wrong, and I bet this area continues to flourish in some capacity (read: for someone other than the developers). But it may ensure a quality earnings stream by showing a kind nod to the not-so-rich.