Tuesday, January 22, 2008

Capital Markets Bring Club Pain

You know how NYC clubs such as Cain and Pink Elephant have been trying to find locations in London? Of course you do. Unfortunately things may have hit a snag. Due to the weak value of the dollar and London's notoriously expensive key costs, it may not be financially feasible to open in the current mecca of international nightlife. According to one Little Birdy, "these clubs and operators have very strong, proven concepts that has a lot of investors interested. The numbers just aren't working right now." That sucks for London and the players, but could potentially be a boon for NYC, as experienced operators and their overseas investors may possibly look for opportunities in the domestic real estate market. Obviously, we'll keep you posted.