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RAINFOREST CAFE, INC.
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| Term Paper Title | RAINFOREST CAFE, INC. |
| # of Words | 1323 |
| # of Pages (250 words per page double spaced) | 5.29 |
RAINFOREST CAFE, INC.
OUTLINE TO RAINFOREST CAFE RESEARCH REPORT
CORPORATE BACKGROUND
History
Formation
Rainforest Cafe, Inc. was incorporated in Minnesota on February 3, 1994 to own
and operate restaurant and retail facilities under the name of "Rainforest Cafe - A
Wild Place to Shop and Eat."
Chairman of the Board and Chief Executive Officer
Election. Lyle Berman was elected Chairman and CEO of Rainforest Cafe at its
inception in February 1994.
Background. Berman has been Chairman and CEO of Grand Casinos, Inc. and
its predecessor since October 1990. He is also CEO and a director of
Stratosphere Corporation, and a director of G-III Apparel Group Ltd., Innovative
Gaming Corporation of America and New Horizon Kids Quest, Inc. He previously
was the President and CEO of Berman Specialty Stores, Inc. ("Bermans") from
1978 until November 1988 when Bermans was acquired by Wilson Suede and
Leather, a subsidiary of Melville Corporation.
President and Chief Operating Officer
Election. Martin J. O'Dowd was elected in May of 1995. He is the first to hold
this position. As of November 18, 1996 O'Dowd has taken a 30 day leave of
absence for personal reasons. Dennis Nielson, analyst for R. J. Steichen,
predicts that if the leave is only 30 days there should not be a lasting impact on
the company (Nielson, November 18, 1996).
Background. O'Dowd is a director of Elephant and Castle Group, Inc. He was
previously the Corporate Director, Food & Beverage Services for Holiday Inn
Worldwide from July 1987 to May 1995. From August 1985 to July 1987, O'Dowd
was Vice President and General Operations Manager for the Hard Rock Cafe in
New York.
Management Philosophy. Berman and O'Dowd stated that they are committed
to identifying and acquiring the resources that will allow them to continue their
high rate of growth.
Main Activities
Rainforest Cafe has two areas of each facility, the restaurant and the retail area.
Restaurant
The company believes that its large menu selection is an important factor in the
appeal of its restaurants. The restaurant serves lunch and dinner entrees which
range in price from $7.95 to $15.95. The theme of the company is mirrored on
the menu with all food and beverage selections including a jungle reference
(Annual Report, 1995).
The restaurant derived approximately 74 percent of the companies total revenue
during the 52 week period ending December 31, 1995.
Retail Area
In order to enter the restaurant, all customers must p
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