the new boutique hotel TRIPTYCH Curio Collection, a concept to enjoy of a beautiful panoramic view of Miami
(Indoor: 3,880 SF | Outdoor: 4,688 SF)
ambiance with casual elegance combined with a high quality straightforward kitchen. Plus breathtaking panoramic views of Miami.
2. EXECUTIVE SUMMARY
This Rooftop Bar & Lounge is the perfect setting for a sophisticated and comfortable setting. Carefully selected food and drink menu with a creative design will attract a large variety of customers
This Rooftop Bar & Lounge will be the locals go to spot in the Miami Design District
The main objective of this business model is oriented to:
Establish and lead a new concept of Rooftop Bar & Lounge in the Miami Design District, where both tourists and locals will attend to socialize and indulge their senses in their cuisine and stunning views of the Magic City.
3. MARKET AT A GLANCE
• Hotel rooftop bars have been steadily growing in numbers over the last seven years. The industry is expected to continue growing.
• The US bar and nightclub industry includes around 45,000 establishments (single-location companies and branches of multi- location companies) with a total annual revenue of about $20 billion USD.
• According to a report from IBIS World published on September 2017, from 2018 to 2022 the industry revenue is forecasted to increase.
• Hotel owners and operators have gotten more creative to satisfy the new customer trends.
• Traditional restaurant and bar features have evolved to grow in rooftop bars.
• The industry is highly competitive and is facing increased competition from other sectors, such as full-service restaurants
• Hotel News Now published an article about the rooftop business saying “they are both popular and profitable”
• The trend includes offering craft beer and organic food in their menus to appeal to selective consumer tastes
4. CUSTOMER SEGMENTS
• Diverse customer segments, from the mid-afternoon and after-office crowd to a late-night audience of partygoers
• Locals over 21 years old, living within a twelve (12) mile radius of the Miami Design District; this group likes to mix and mingle in a vibrant scene of diverse interaction
• Target demographic market with a household income of $45,000/year
• Area professionals on their way home. These customers will be become the bar’s ‘regulars’, relaxing after a long day of work and may be staying for a fun night
• Tourists and hotel guests, taking advantage of TRIPTYCH ́s centralized location, cool ambiance, and great views of the Magic City
• Members of the TRIPTYCH Coworking Spaces
• Corporate organization events
• Private events
Rooftop-Bar & Lounge will offer:
• Extensive variety of craft beers, signature cocktails, wines, selective champagnes and a full service liquor bar
• Cuisine concept by a recognized restaurant group
• Indoor and outdoor seating
• Option for live entertainment like DJs and/or live music
• Venue for private events
• 24 hour Valet Parking service
7. COMPETITIVE ADVANTAGE
• Rooftop Bar & Lounge specifically will serve its target market and truly be a unique local experience
• Led by a professional team, specialized in creating an innovative cocktail and culinary experience
• Venue carefully designed creating a unique ambience
• Panoramic view over the Miami City
• Innovative and creative culinary options
• Vibrant music style
• 24 hours Valet parking service
• There is no similar venue within a 5-mile radius
"Rooftop Bar & Lounge customers will enjoy a unique local experience"
8. FINANCIAL PROJECTIONS
• TRIPTYCH Rooftop Bar & Lounge’s pricing will be similar to its competitor’s