Elephant & Castle Group Inc

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International Guild of Hospitality & Restaurant Managers

Elephant & Castle Group Inc., incorporated in 1992, owns and operates pub and casual dining restaurants in the United States and Canada , and is actively engaged in restaurant franchising activities. The Company owns and operates a chain of 19 full-service casual dining restaurants and pubs, 12 of which are located in Canada , and seven of which are located in the United States . Seventeen of the restaurants are operated under the name Elephant & Castle, an English pub concept, six of which are in the United States . In addition to the owned and operated units, there are six Elephant & Castle franchises, of which three are in Canada and three are in the United States . Three of these franchises were opened during 2001. The Company also owns and operates an Alamo Steakhouse & Grill red meat steakhouse at the Mall of America, in Bloomington , Minnesota . Three additional franchised restaurants were opened during 2001.

During the year 2001, the Company terminated its last activities with respect to Canadian Rainforest Restaurants, Inc. (CRRI) by closing its Vancouver (Metrotown) restaurant in September 2001. Previously, CRRI was a joint venture between the Company and Rainforest Cafe Inc. for the development of Rainforest Cafe Restaurants in Canada . CRRI opened three restaurants, between June of 1998 and the summer of 1999, and entered into one sub-franchise agreement for a restaurant in Niagara, Canada . After Rainforest Cafe Inc. was acquired by Landry's Seafood Restaurants Inc., as part of a restructuring of the CRRI joint venture, in anticipation of its complete termination, the Company acquired the Vancouver (Metrotown) Rainforest Cafe Restaurant.

Elephant & Castle

The Company's Elephant & Castle restaurants feature British style and Tudor decor, as well as a wide variety of menu items, including a large number of English-style dishes. The menu is regularly updated to keep up with current trends in customers' tastes. Although all of the Company's restaurants provide full liquor service, and alcoholic beverages are primarily served to complement meals.

During 2001, Elephant & Castle Group opened one Company-owned Elephant & Castle restaurant in Chicago , Illinois , and six franchised restaurants, comprising three Elephant & Castle restaurants in Harrisburg , Pennsylvania ; Cherry Hill , New Jersey , and Vancouver , British Columbia .

Hotel Restaurants

The Company has agreements for the operation of restaurants in seven hotel locations in Canada and the United States . The Winnipeg Delta Elephant & Castle restaurant was opened on May 18, 1994. The Philadelphia Crowne Plaza unit was opened on February 28, 1995 , and the San Diego Holiday Inn unit was opened on July 1, 1996 . The Boston Club Quarters and Seattle West Coast Grand restaurants were added in 1997. The Company opened its Chicago Club Quarters restaurant in April 2001, and hopes to build additional hotel restaurant units at first-class hotels over the next several years.

Mall Restaurants

The Company's mall restaurants average approximately 5,000 square feet, with a typical seating capacity of 220. The restaurants are open seven days a week for lunch, dinner and late-night dining. Due to their location at major downtown and suburban malls and office complexes, the Elephant & Castle restaurants cater to both shoppers and office workers.

Alamo Steakhouse & Grill

In October 1996, the Company acquired all of the capital stock of Alamo Grill, Inc. ( Alamo ), a one-unit restaurant business located at the Mall of America, Bloomington , Minnesota . The acquisition provided the Company with a red meat concept restaurant. The single-unit Alamo has been operated by the Company since its acquisition. The Mall of America lease expires in early 2003, and may not be continued at the same location, or in the Mall, thereafter. The Company is franchising other Alamo Steakhouse & Grill restaurants as casual steakhouse restaurants with a Southwestern design and theme. They are intended to be located by franchisees primarily in United States hotels. Each restaurant is planned to be up to 6,500 square feet with up to a 240-seat capacity.

During 2001, the Company opened three Alamo Grill restaurants. These are located in Sarasota , Florida ; Anaheim , California , and Colorado Springs , Colorado .

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Disclaimer:
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