Just a quick update on our progress. We know we have been a bit silent for the last month or so, but rest assured it’s not for lack of tireless work on securing a future for the El Rey Theater.
We have finished drafting our business plan as well as a 5 year financial projection, and are currently working with an investor to secure the purchase of the theater. Unfortunately, more details regarding the sale can’t be divulged at this point.
We have also joined the League of Historical American Theaters (LHAT) which offers a community of other historical theater operators as well as some amazing operational resource that we’ve already been able to take advantage of. We’ve also been graciously invited into the Sundance Arthouse Convergence, another incredible resource of theater operators created in connection with the Sundance Institute in Park City Utah. We are certain that with our own efforts as well as our collaboration with these, and other prestigious national organizations, the El Rey Theater can become a local and state landmark with regular programming that rivals the most well known and profitable theaters in the country.
As most of you already know, our El Rey Theater is the oldest continuously operated movie theater in California, as well as 3rd in the US. We plan to use this distinction to make it a destination location for cinema and performance audiences worldwide not just for the theater itself, but for all of downtown Chico.
Thank you all for your continued support!
The El Rey Theater Alliance Team