Sheraton Seattle Announces New Restaurant
Daily Grill Restaurant to Open in Downtown Seattle in 2007
LOS ANGELES, CA, July 12, 2006. Grill Concepts, Inc. (NASDAQ:GRIL) announced today that it has signed an agreement with Sheraton Seattle pursuant to which it will enter the Seattle market with the opening of a Daily Grill restaurant on the corner of Pike Street and 7th Avenue, within the newly expanded Sheraton Seattle. The restaurant is scheduled to open spring of 2007.
Nestled in the heart of downtown and located in the center of the retail district, adjacent to the Washington State Convention Center, the nationally acclaimed Daily Grill restaurant will welcome locals and visitors to the downtown area. This new space is being built in conjunction with the Sheraton Seattle's $130 million expansion project, which will make it the largest hotel in Seattle.
"Seattle is an ideal location for our branded restaurants, where freshly-prepared, made-from-scratch cuisine is a symbiotic fit with a fabulous city," said Philip Gay, chief executive officer. "This new restaurant will extend our presence in the Pacific Northwest beyond our existing Portland, Oregon location, continuing our legacy that began 22 years ago in Beverly Hills. We look forward to pleasing the palates of those who will dine with us at our new Seattle location early next year."
The restaurant will occupy 7,000 square feet, with combined seating for more than 200 guests. In addition to serving breakfast, lunch and dinner, the Daily Grill will prepare food for room service for hotel guests of the property, which is currently expanding to 1,253 guestrooms, and will also serve the Hotel lobby lounge. Grill Concepts signed a 10-year management agreement on the property, with two additional 5-year options.
"We are thrilled to be partnering with the Daily Grill during this exciting expansion period," said Keri Robinson, general manager of the Sheraton Seattle. "It will be a perfect gathering location for both our guests to enjoy, as well as the local public."
This news release contains forward-looking statements, which are based on current operations, plans and expectations. Such statements include, but are not limited to, the opening of the Seattle Daily Grill in 2007. Actual results may differ materially from these statements due to risks and uncertainties beyond the company's control, which are detailed from time to time in its filings with the United States Securities and Exchange Commission.
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