Vestar and Larry H. Miller Group of Companies Announce Megaplex Luxury Theatres Joint Venture
SALT LAKE CITY (March 2, 2021) – Construction is scheduled to begin immediately for a major luxury renovation of the Larry H. Miller Megaplex Theatres location at The Gateway in downtown Salt Lake City. The project is a joint venture between the Larry H. Miller Group of Companies and Vestar, owners of The Gateway. The two companies believe upgrading the theater and amenities is crucial to remain competitive, offering an experience that is unmatched by at-home streaming. A forward-thinking approach to the renovation is based on the confidence that movie fans are eager to return to engaging in the shared experience that is integral to entertainment. In an effort to incorporate addition revenue streams, the enhanced Megaplex Theatres will feature state-of-the-art meeting space. As businesses pivot to a more hybrid workplace-remote model, meeting space amenities are expected to be in demand.
“The project has been on the drawing board for some time, and we’re looking forward to offering our downtown Salt Lake guests an enhanced luxury experience,” says Blake Andersen, Megaplex Theatres president. “Our plan is to have the new Megaplex Luxury Theatres at The Gateway fully operational in time for the biggest Hollywood releases coming in the early summer.”
The new Megaplex Luxury Theatres complex will feature heated luxury recliners, in-seat dining, premium snack and beverage service, elegant décor, private meeting and event space, state-of-the-art technology and much more.
“As an anchor tenant and valued partner, we are excited to see Megaplex Theatres deliver the latest trend in the movie-going experience to The Gateway,” says Jenny Cushing, VP of Leasing for Vestar. “As a downtown destination for premier art and entertainment offerings, it’s expected that we remain on the cutting edge. We feel that consumers have become accustomed to streaming in their living rooms as a result of COVID, but will be enticed by a more elevated theater experience that cannot be replicated at home. The meeting space component is a thoughtful, exciting addition given the number of businesses in and around The Gateway and our proximity to the Salt Palace, the city’s convention center.”
The new Megaplex Luxury Theatres at The Gateway will occupy the same general area as the original Megaplex location that dates back to 2001.
As one of the leading privately held real estate companies in the United States, Vestar acquires, develops and manages shopping and entertainment destinations that serve as community focal points.
Since its inception in 1989, Vestar has earned a reputation for integrity and responsibility in the fields of retail property development, operations, leasing and marketing. Vestar’s current portfolio of retail properties totals 30 million square feet throughout the western states. For more information, please visit Vestar.com.
About Larry H. Miller Megaplex Theatres:
Megaplex Theatres operates 15 locations throughout Utah and Southern Nevada with a total of 176 screens, including five IMAX screens.
Founded by the late Larry H. Miller, Megaplex Theatres are frequently among the top grossing in the nation and recognized as Utah’s favorite movie theatres. In addition, Megaplex Theatres feature regular and large-format movie screens, dinner and a movie gift options, conference and auditorium rental, and an industry-leading guest services team. Megaplex Theatres show times and other group information may be found on the web at MegaplexTheatres.com or by calling (801) 304-4545. Guests are also invited to follow Megaplex on Facebook at www.facebook.com/MegaplexTheatres, on Twitter @MegaplexTheatre, and on Instagram @MegaplexTheatre for the latest in movie news and special offers.
About The Gateway:
The Gateway is a 1.4 million square foot lifestyle destination in the heart of Downtown Salt Lake City. Owned and managed by Vestar, the property recently underwent a $100 million redevelopment— infusing retail and dining, entertainment, modern office space, arts and culture, a boutique hotel, and a full calendar of community-driven events.