Austin-based Alamo Drafthouse Cinema LLC has picked up a theater veteran to steer growth as its expands two of the of the nation’s largest metros.
The company hired Tim Reed, formerly of Village Roadshow Gold Class Cinemas, as senior vice president of real estate. Officials said he is charged with leading expansion into new markets, including Los Angeles and New York City. The company has re-energized growth since founder Tim League returned as company CEO this summer. He recently merged his three Austin theaters with a company that bought franchising rights in 2004.
Reed will stand at the helm of property acquisitions for the combined company. He has worked in theater franchising and film distribution for more than 30 years. Previous to Gold Class, he served in leadership roles with Hollywood Theaters, Act III Theaters, Dubinsky Brothers Theatres and Paramount Pictures Corp.
Alamo Drafthouse, founded in 1997, operates nine theaters in Austin, San Antonio, Houston, Texas and Winchester, Va., each with an average unit sales volume of $5.8 million. The theaters, which serve food and drinks screen-side, averaged weekly same-store-sales growth of 11.5 percent in 2009 versus 2008.