Franchisee Buys Two Alamo Drafthouse Locations, Has Plans For Seven More
Alamo Drafthouse Cinemas has signed an agreement to convert its two Houston company-run locations into franchisee-owned properties and the same franchisee also plans to develop at least seven new locations throughout Texas.
Triple Tap Ventures LLC has acquired the two existing Houston theaters, located in West Oaks Mall and in Katy at 531 South Mason Road, and has plans to construct new properties in the Houston market as well as in Amarillo, Corpus Christi, Lubbock, Midland and San Marcos.
Triple Tap’s principals, Norman Abdallah and Neil Billingsley-Michaelsen, between them have more than 40 years of restaurant, franchise, corporate finance and concept development experience. Abdallah is currently chief executive officer and president of Restaurants Unlimited Inc., which owns several small chain restaurants, and Billingsley-Michaelson has served as a senior executive with International Development Management, a real estate development and investment firm.
