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<br />Il-J~ <br /> <br />To: <br />Subject: <br /> <br />Michael Church and Pat Webb <br />Redwood City Theater Analysis <br /> <br />October 26, 2000 <br />Page 3 <br /> <br />Mann (California, Colorado) <br />General Cinema Theatres (west coast, midwest, southeast, northeast) <br /> <br />Operators "at risk" (Geographic area of influence) <br /> <br />AMC Entertainment Inc. (nationwide) <br />Regal Cinemas, Inc. (southeast, midwest, northeast, northwest) <br />Loews Cineplex Entertainment Corp. (west coast, east coast, midwest) <br /> <br />Peninsula Market and Competition <br /> <br />The Peninsula market for new state-of-the-art theaters is underserved. As of January 2000, <br />San Mateo County has a population of 730,000. Within a 5-mile ring of downtown Redwood <br />City, there are estimated to be 250,000 residents. <br /> <br />Theaters located in San Mateo County include: <br /> <br />1. Century Park 12 theater on East Bayshore Blvd. in Redwood City. This theater is also <br />the only first run theater located within a five-mile radius of downtown Redwood City. <br />We presume that this theater will be replaced by the planned downtown theater; <br /> <br />2. Century Plaza 10 in South San Francisco. This is the closest theater located to the <br />north; and <br /> <br />3. A new 20-screen theater will be opened by Century next year in Daly City. <br /> <br />Also, two additions to supply north of Highway 92 are planned: the proposed Century in <br />downtown San Mateo (12 screens) and a proposed complex in Millbrae (operator and number <br />of screens TBD). <br /> <br />To the south, the nearest theater is more than five miies away in Santa Clara County. There is <br />the Century Theatres in Mountain View (12 screens), followed by the AMC Mercado 20 in <br />Santa Clara. <br /> <br />it is important to note that the existing theaters serving the Peninsula generate an outstanding <br />level of ticker sales per screen, as summarized in the table below. Note that the ticket sales <br />;Jer screen at these outlets rank far in excess of the range of national operators. This high <br />capture rate by the existing theaters/outlets is evidence of underserved demand. <br /> <br />.,!",--".'....~.T ' <br />