Thoughts 22 Jul 2007 09:19 pm
Tao Las Vegas
This from the NYT:
Photo by Isaac Brekken for The New York Times
In 2006, its first full year open, Tao did $55.2 million in business, or $16 million more than its closest competitor, Tavern on the Green in New York.
Richard Wolf, who with his longtime partner, Marc Packer, created the multilevel complex as well as Tao Asian Bistro in New York, which ranked fourth with $26 million in revenues.
They recently opened Tao Beach Club, home of the $1,000-minimum poolside cabana stocked with food and drink, and equipped with high-definition plasma screen televisions and Xbox gaming consoles. Preprogrammed iPods are available, as well as staff members who look plucked from the fashion runway and whose attentions extend to cleaning your sunglasses or massaging your muscles.
Keeping all these parts in motion is a huge endeavor. The $20 million complex employs more than 700 people, many of whom are constantly moving like ninja — dark clothes, ear pieces — through the shadows.
Mr. Wolf concedes that Las Vegas is probably the only city that can sustain a venture like this. Some 38.9 million visitors came to Las Vegas last year, and a local population base has grown by about 18 percent in the last six years. In fact, Las Vegas now accounts for 21 restaurants on the list of the highest ranking 100.
With business expected to generate 65 million dollars in the coming year, even given that a large number of their employees work mostly for tips, I’m curious what their operating costs are.