{"id":2788,"date":"2015-12-07T23:55:09","date_gmt":"2015-12-08T04:55:09","guid":{"rendered":"https:\/\/digital.hbs.edu\/platform-rctom\/submission\/cinepolis-luxury-cinemas-a-first-class-movie-destination\/"},"modified":"2015-12-07T23:55:09","modified_gmt":"2015-12-08T04:55:09","slug":"cinepolis-luxury-cinemas-a-first-class-movie-destination","status":"publish","type":"hck-submission","link":"https:\/\/d3.harvard.edu\/platform-rctom\/submission\/cinepolis-luxury-cinemas-a-first-class-movie-destination\/","title":{"rendered":"Cinepolis Luxury Cinemas \u2013 \u201cA first-class movie destination\u201d"},"content":{"rendered":"

Movie theatre attendance have hit record lows. In 2014, the cinema industry sold 1.26 billion tickets, the lowest number since 1995 and a far cry from the all-time high of 1.57 billion in 2002. \u00a0Ticket prices can be raised to compensate for loss revenue, but there are inherent limits to how effective this strategy can be.\u00a0 Theater chains, like AMC, have instead successfully turned to the concession stand in search of profits.\u00a0 In spite of a 4.5% decrease in ticket revenues, AMC beat Wall Street expectations by recording an 8.8% increase in concession sales.\u00a0 The overall industry, however, will need to evolve as consumers increasingly have more convenient options to view movies at home, such as through Netflix or mobile apps.\u00a0 As such, theatres will need to continue finding new ways to entice getting people to the theatre.<\/p>\n

A successful example of how theatres can draw moviegoers to the theatre is Cinepolis Luxury Cinemas.\u00a0 Research has shown that 78% of people eat before or after going to the movies.\u00a0 Movie theatres have latched on to this fact and have envisioned bringing the home experience to the theatre.\u00a0 By providing better quality food and service, customers are not only able to have a more efficient and enjoyable experience, but theatres can further profit by keeping customers in the theatre consuming higher margin products.<\/p>\n

Cinepolis seeks to provide an upscale movie going experience by providing comfortable seating, fine dining options and lounge areas for customers to interact. \u00a0For roughly $20 a ticket ($8-10 more than a typical theatre), customers can have a convenient and time-saving night out by combining the restaurant and theatre experiences.\u00a0 Currently there are 5 Cinepolis Luxury Cinemas in the U.S., all located within upper class neighborhoods in Southern California (e.g. Westlake Village, Del Mar Heights, etc).<\/p>\n

Entering the lobby, a customer may opt to enjoy cocktails and drinks at a swanky full bar or eat dinner in the dining area.\u00a0 The dining area offers a high-quality and high-priced menu that consists of food items that range from quinoa salads to truffle flatbread pizzas.\u00a0 Unlike a typical theatre, Cinepolis has a staffed kitchen food and beverage team to help prepare food orders.\u00a0 Inside the theatre, customers will find enlarged recline leather chairs with mini dining tables.\u00a0\u00a0 Theatres only seat around 60 people as rows and aisles are spaced widely apart.\u00a0 This space allows chairs to fully recline and also provides room for wait staff to maneuver around with minimal disturbance to the customer.\u00a0 Theatres will have a touch-pad at the seat that allow customers to summon wait staff, to order and pay for food and beverages.\u00a0 Wait staff will stealthily bring your order before or any time during the movie.\u00a0 They are even taught to kneel when providing service in order to not block the screen.<\/p>\n

All these services and amenities have been very effective in keeping the consumer inside the theatre, consistently generating revenue.\u00a0 Recent reports show that average visit durations are about 4.5 hours per customer.\u00a0 Due to the success of this operating and business model, its no wonder that several competitors are popping up across the country.<\/p>\n

 <\/p>\n

http:\/\/www.slashfilm.com\/box-office-attendance-hits-lowest-level-five-years\/<\/a><\/p>\n

http:\/\/www.businessinsider.com\/movie-concessions-drive-amc-earnings-2015-2<\/a><\/p>\n

http:\/\/nypost.com\/2014\/01\/15\/movie-theaters-with-dining-options-on-the-rise-in-the-city\/<\/a><\/p>\n

http:\/\/ventura.craigslist.org\/fbh\/5293294649.html<\/a><\/p>\n

http:\/\/deniseleeyohn.com\/bites\/brand-experience-brief-cinepolis-luxury-cinemas\/<\/a><\/p>\n

https:\/\/www.washingtonpost.com\/goingoutguide\/coming-attractions-the-rise-of-luxury-movie-theaters\/2014\/12\/18\/98021b3e-7f29-11e4-81fd-8c4814dfa9d7_story.html<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Cinepolis seeks to provide an upscale movie going experience by providing comfortable seating, fine dining options and lounge areas for customers to interact. 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