Search
 

Le Bernardin Chef Comes to Ritz-Carlton

PHILADELPHIA-When the Residences at the Ritz-Carlton opens in 2008, so will a restaurant, operated by Eric Ripert, in the rotunda of the adjacent hotel.

By Marita Thomas | Updated on July 25, 2007

PHILADELPHIA-The locally based Arden Group has formed a partnership with Eric Ripert, chef of New York City’s Le Bernardin, to create a restaurant in the Ritz-Carlton Philadelphia at 10 Broad St., also known as the Avenue of the Arts. It will open in November 2008 at the same time first move-ins will begin at the Residences at the Ritz-Carlton, now under construction on an adjacent parcel.

The restaurant is not yet named, but will serve American cuisine utilizing organic products from local farmers at “an approachable price point,” according to Craig Spencer, CEO and president of Arden. He tells GlobeSt.com, “it will occupy three-quarters of the entire rotunda hotel lobby,” which is the centerpiece of the historic former Girard Bank Building, which Arden and its partners in the 48-story condo tower previously converted into the Ritz-Carlton hotel.

Spencer declined to discuss details of the financial arrangement with Ripert, but says, “It’s a licensed, leased agreement that includes profit-sharing with him. More deals are being done this way, especially at hotels, because, unlike a freestanding restaurant in an office building, a hotel is a living, breathing thing. I don’t want to be his landlord; I want to be his partner.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.