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Palazzo's Morels to Permanently Close

Discussion in 'Restaurants & Buffets' started by Sonya, Jun 5, 2020.

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  1. Sonya

    Sonya Queen of VMB

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    The Palazzo’s Morels Opts to Close Permanently on the Las Vegas Strip

    https://vegas.eater.com/2020/6/4/21281119/morels-french-steakhouse-bistro-palazzo-closes-permanently-restaurant-coronavirus-pandemic

    Morels French Steakhouse & Bistro with its patio on the Strip, weekend brunch, cheese and charcuterie bar representing 60 farmhouse and artisanal selections, and raw bar decided to permanently close, making it the first big restaurant on the Strip to call it quits.

    “For the past 12 years, we’ve operated at the highest level of hospitality for our guests,” owners Chipper Pastron, Sal Casola Jr., and Sal Casola Sr. said in a statement to Eater Vegas. “Unfortunately, these uncertain economic times brought on by COVID-19 has made it impossible to survive as an independent restaurant operator in a hotel with an estimated occupancy less than 50 percent for the foreseeable future. It is with heavy hearts that we have made the difficult decision to permanently close. We are so proud of what we’ve achieved at Morels with our team and are grateful for our loyal customers and their support over the years. We love Las Vegas and hope to find a new place when it’s the right time.”
     
    • Informative Informative x 3
  2. luckylinda

    luckylinda High-Roller

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    I enjoyed many meals there I will miss it. Glad they may open some where later.
    their quiche was so delicious I was usually having it.
     
  3. Flowers

    Flowers VIP Whale

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    Very sad but unfortunately this probably won't be the first closure of this kind on the strip especially. I can't imagine how big the rent must be that the independents have to pay to the big strip hotels.
     
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  4. Travel Fanatic

    Travel Fanatic The Arbiter of Taste Caviar Kid

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    Too bad. Had lunch there once and it was fantastic
     
    The plans have changed
    Post-Shopping Recovery Period
  5. jgates8

    jgates8 VIP Whale

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    It's a shame that the hotel(s) can't work with venues more during this time. Reduced or deferred rent, profit based rent, etc. Seems as if it would be to their benefit to be bringing in some rental income to the casino vs. an empty closed up venue that sticks out like a sore thumb. (And maybe some actually are? Probably not the type of thing they would advertise).

    It does make me wonder if there is more behind this. They aren't trying to reopen at all with reduced staffing, limited menus etc. (Some of the things other restaurants seem to be trying nationwide). Some of the previous articles on restaurants closing in Vegas they were very upfront that they were struggling prior to the COVID epidemic but there is no mention of it in this article.

    What amazes me & I hadn't really thought about it - they have a set demolition budget of over $200,000 (filed for in mid-May - so they evidently decided this a while back). Around here if a restaurant closes up they basically sell off what they can get the cash for to pay off debtors etc. (fryers, fridges, booths etc) to whomever will buy it. But normally you don't see a 'demolition budget'. Is that common in a contract for a lessee in the big cities that they have to clear out the venue? I'm used to seeing things more like 'lease-holder improvements' where the owner of the building will do a lot of the remodel, etc. so if lessee A walks away they can still rent that hair salon or restaurant to lessee B.
     
  6. marcianofan

    marcianofan High-Roller

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    I’m not familiar with Morels at all but many restaurants on the strip, even in good times can have a rough time making it, having to be closed for a cpl months might have just been the last straw. I’m booked to stay at the Venetian for the first time at the end of June and as many times as I’ve been to Vegas I haven’t walked thru the Venetian to many times. Just seems like I’ve read a lot of headlines about restaurant turnover at Venetian/Palazzo/Grand Canal Shoppes. Usually when they close though theres another restaurant ready to open right behind it. With the way things are now though who knows?
     
  7. jgates8

    jgates8 VIP Whale

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    I have only eaten in that area twice. Once back in the food court area past the gondolas. The other time in '08 or '09? with my son & my mother. He chose a Mexican place that was supposed to be great. Ehhhh.....It closed a few months later & I could see why. Food was not impressive & was very expensive (evidently to pay the rent). We ate the next night at Triple 777 Brew Pub at MSS for 1/3 the cost and food that was 3x better. However there was an announcement just a couple weeks later of a new restaurant going in. I would expect now they might not pop again quite as fast as before but as you said - who knows!
     
  8. Sonya

    Sonya Queen of VMB

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    Remember that restaurants are open at 50% capacity. That can be a big hit to a restaurant with small profit margins.
     
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