Marina Highlights 2007 0410 - Laserfiche WebLink

Home

Mr. John 1. Jermanis City of San Leandro May 31,2000 Page 2 SEDWAY GROUP Real Estate and Urban Economics companies that provided regular guests (Goodyear, GM, Humphrey Instruments) have relocated from the San Leandro industrial area over the past year or so. . Occupancy levels remain high during the week, with substantially lower levels on the weekends, which is consistent with a business hotel. . Although room rates increased by over 20 percent in the past few years, due to the more competitive environment, rates have not been raised this year. El Torito El Torito is part of a restaurant chain that also has locations at Jack London Square, Fremont, Burlingame, and Foster City, among others. The restaurant has approximately 250 seats, including 65 in the bar area. Although there is no additional banquet facility, one room with approximately 70 seats can be isolated for large parties. Business is almost exclusively local, with a lunch crowd from local businesses and a dinner crowd from primarily San Leandro residents. Key aspects of El Torito' s operations are summarized as follows: . The San Leandro outlet generally performs well relative to other Bay Area locations, including the Jack London Square location. . Sales at the restaurant have fluctuated up and down over the past five years, with sales through April 2000 up from the same period in 1999. . Weekday business is split roughly 60/40 for dinnerllunch, with the ratio increasing to 75/25 on weekends. . E1 Torito does receive customers from the Marina Inn, and will book large parties for a conference at times. There is also some spillover from airport employees, particularly at lunch and happy hour. However, the restaurant receives little visitation from golfers. Horatio's Restaurant Horatio's Restaurant is part of a Seattle-based chain of restaurants including other Bay Area dining establishments such as Kincaid's at Jack London Square, Skates on the Bay at the Berkeley Marina, and Palomino in San Francisco. Horatio's has approximately 225 seats, including a bar area, and 35 seats in an outdoor patio area. The majority of customers are drawn locally, from area businesses at lunch (80 percent) and local residents at dinner (60 percent). In addition, Horatio's draws guests from as far as Fremont and Castro Valley, and occasionally Oakland, despite minimal advertising in the East Bay. The restaurant has two well-established niches: "seal the deal" business lunches and celebration dining events (e.g., going-away parties). The following summarizes key components of Horatio's operations: . Horatio's per-square-foot sales figures are on par with the very popular and successful Kincaid's at Jack London Square. Otherwise, the restaurant performs slightly less well than Skate's on the Bay, but better than Palomino. . Sales at Horatio's have increased steadily over the past five years, at a level similar to Skate's on the Bay. . Horatio's receives some spillover business from the Marina Inn, but little from the golf course.