Post #187125 by christiki295 on Fri, Sep 16, 2005 9:00 PM

Maybe the increased prices are worth it to keep he property from going condo, like the Derby in Los Feliz.

The Beverly Hilton recently underwent a $60 million makeover and is owned by Packard Bell co-founder Beny Alagem's Oasis West.

Unfortunately, it would make far more financial sense to break the lease with Trader Vics, pay them a few million in damages (possiby the relocation costs of Trader Vics opening elsewhere), and then construct million dollar luxury condos to recoup the $60 million investment - than for them to keep Trader Vic's.

However, if Trader Vic's charges a few more dollars per cocktail, and has a long term contract, maybe the Bergstrom family (or whoever are the owners) will insist on remaining.

I'm gonna write my Congressman (Congresswoman, in my case) to write a law placing restrictive covenants in favor of maintaining tiki bars on the property.

[ Edited by: christiki295 2005-09-16 21:14 ]