Buckingham Engages Prominent Real Estate Broker Kim Mogull

THE NEWSWEEKLY OF THE FOODSERVICE INDUSTRY Vol. 38. No. 45 PUBLISHED EVERY MONDAY • A LEBHAR-FRIEDMAN1 PUBLICATION • S5 PER ISSUE • http://www.nm.com NOVEMBER 8. 2004 RnllMialxHil Ml lioirl nuirkti  One indication shtmingjutf how hot New York City's hold reMaurant market has hcaimc b (he highly publicized search by ihc Buckingham Hotel (of a "premier restaurateur’ (or its marquee restaurant space on West STrhVrcctandStvtl^  JTT ktfcl said It is workin* wim Kim Mogull- a [HomiiKni real-cstate broker known for her htf^end clients. such »s IXuvald I rump and Hotel < iawcsoort.  The 7< year «*W1 Buckingham recently underwent a Sv million renovation. including S4 million that went into modemi/mg its square-loot slicct-lesel restaurant space ‘ (here's demand to gri into this (restaurant] space, so wc can pick and choose." said M»>gull. president ot Mogull Realty Inc We are catching the eye* of some incredible restaurateurs looking to capitalize on the hotel's resitaluation and  Dunne the pJ»l lew weeks, the hotel alrvaJv has received several offers from "top-flight" rcstaura teurv according to Stephen Shapiro, managing partner of the Buckingham Hotel. The company selected to tun Ihc restaurant also will assume responsibilities for the HMNn service operations of the hotel Shapiro says the Buckingham was not considering developing its own footfccrvKC cimcept. “We're not a restaurani com pan), we're a boutique hotel." Shapno says. 'Some of the world’s best restaurateurs are in Manhattan, and I prefer to have them do |L*  In addition, he isotcv "If you take a great hotel and a great restaurant company and hase them working together, the whole is greater than the sum of the parts." Crosv-tnarkcling is pan of Ihc draw. "It's a real benefit to have a restaurant amcept that can If you take a great hotel and a W great restaurant company and have them working together, the whole b greater than the sum of the parts.  It's a real benefit to have a restaurant concept that can stand on its own.**  — STCPHIM SHAPIRO IUMCINC FUtNEI. tUCUMJMM HOTFl  stand on its own and help cnhance the image of thc hotcL” Shapiro says. Also, it enhances the experience (or the gursl. he adds.  Fueling deals such as the Buckingham Hold's ate New York v (nmme hotel occupancy rates and resing tourism numbers For the nine months ended in September, occupancy at New York hotels grew to 81 5 percent, up about K percentage points compared with the same period last year, according to PKF ( onsuhmg K«som rales abm grew to nearly SIW. a 9-percent increase in the same period  fCimnmird •>» pxijtc 72) THE BIG APPLE Fueled by a surge in tourism and by the recent success of upscale hotel eateries, New York restaurateurs are clamoring to strike up new partnerships and set up shop alongside the city’s signature suites