Would you pay $35 for a movie ticket?
Village Roadshow Limited thinks that you would be willing to pay much more for your movie than you do today. According to a report posted by Variety, Village Roadshow Ltd., Act III, Lambert Entertainment and the Retirement Systems of Alabama pension fund are partnering to create a luxury movie theater chain for $200 million.
50 theaters are planned to be built over the next five years with the first two venues set to open in South Barrington, a suburb of Chicago, and the Seattle suburb of Redmond in October. Variety says each theater will have 40 reclining armchair seats with footrests, digital projection and the capability to screen 2-D and 3-D movies, as well as a lounge and bar serving cocktails and appetizers, a concierge service and valet parking.
While you may be eating popcorn during a movie today, the companies hope that you will spend your money on sushi and other “theater-friendly foods from on-site chefs.”