The announcement, which came in a conference call with analysts, was a surprise from a company whose expansion vehicles in recent years have all been high price point and upscale in nature more upscale, anyway, than the core Outback concept. The company is still researching the concept s viability, although it s going ahead with the first unit next year with two more in the year after that. In keeping with Buffet s gin-soaked image, liquor will make up a big component of the concept s revenues, Sullivan said, although he didn t estimate an exact breakdown. In Paradise, Outback now operates six restaurant concepts, both by itself and through joint ventures, as well as a catering business. Buffet, himself no stranger to the restaurant business, has lent his name to a cafe concept called Margaritaville.
Several locations are currently in operation.
However, although we took a small price increase in July, as a result of the anticipated increase in beef costs, margins were not as strong as in the first half of the year. The service will be available in some hotels later this year, the companies said. InnMedia will outfit hotel TV sets with Net and entertainment services, accessible by wireless keyboards. Hilton and LodgeNet will split revenue from advertising and users' access fees. As part of the joint venture, Hilton was issued a warrant granting it the right to purchase up to 2.1 million shares of LodgeNet common stock.