Cinébistro upscale movie theater in Solaris Plaza closed due to parent company’s bankruptcy
Cinébistro, the upscale movie theater in the heart of Vail Village’s Solaris Plaza, has closed.
At the cinema, guests could see first-run movies and order high-quality concessions to enjoy during the film, including gourmet entrées and specialty cocktails at the fully-stocked bar. Cinébistro also hosted screenings for the Vail Film Festival, before it was converted to an online format for the pandemic.
Cinemex Holdings USA Inc., which owns the Cinébistro brand, filed for Chapter 11 bankruptcy in April of this year. Cinemex Holdings, the eighth-largest movie theater chain in the United States, is the parent company of CMX Cinemas, which owns the Cinébistro brand.
The Cinébistro location in South Forsyth County, Georgia, also closed due to bankruptcy. Currently, 14 locations in Florida, Minnesota, Chicago, New York City and Atlanta are listed as “temporarily closed” on cmxcinemas.com.
When COVID-19 lockdown orders forced all non-essential businesses, like cinemas, to close, theaters nationwide struggled without income. With fixed expenses like rent still on the books, CMX Cinemas, like many other entities in the entertainment sector, was rapidly losing money.
REBusinessOnline reported that a CMX Cinemas spokesperson said that bankruptcy also correlates with the “uneven playing field” cinemas and studios are forced to share. Studios – for example, Disney, Warner Bros. Studios, Paramount Pictures, Columbia Pictures – reap 60% of every ticket sold. On top of rent and other expenses, theaters make very little off ticket sales, and thus make the most money off concessions.
There are other locations in the Vail Valley to view films this summer. Riverwalk Theater and the Blue Starlite Drive-In is open, and the Nottingham Park in Avon and Gerald R. Ford Amphitheater in Vail are showing family-friendly films outside every Friday and Saturday evening respectively.
For more information about where to view movies in the Vail Valley this summer, click here.