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AMC Theatres® Reaches Lease Agreements With URW, Announces Additional High-Profile, Major-Market Acquisitions of Former ArcLight Locations in the D.C. and San Diego Areas
AMC Theatres (NYSE:AMC), the largest theatrical exhibitor globally, announced the acquisition of two high-profile locations in major markets: AMC UTC 14 in La Jolla, CA, set to open on February 10, and AMC Montgomery 16 in Bethesda, MD, expected in March. This move adds to the six former ArcLight/Pacific theaters acquired over the past year, including highly successful locations like AMC Americana at Brand 18. The strategic acquisitions aim to enhance market presence and capitalize on previously high-traffic theaters, ultimately boosting box office performance.
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Acquisition of AMC UTC 14 and AMC Montgomery 16 increases market presence in San Diego and Washington D.C.
Addition of six former ArcLight theaters enhances AMC's circuit, bolstering box office performance.
Recent acquisitions already rank among the top 30 theaters in box office performance across the U.S.
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Tickets go on sale this week at AMC UTC 14 in La Jolla, CA, which opens Thursday, February 10
AMC Montgomery 16 in Bethesda, MD is expected to open in March
The two newest additions to AMC’s circuit join other high-profile locations acquired in the last 12 months, including the recent announcements of AMC Northridge 10 in Northridge, Calif., and AMC NEWCITY 14, which are expected to open later this year
AMC Americana at Brand 18 and AMC The Grove 14, which were acquired in the summer of 2021, now consistently rank among the top 30 theatres in box office performance in the United States
This announcement brings the number up to six former ArcLight/Pacific theatres that are being added into the AMC circuit
LEAWOOD, Kan.--(BUSINESS WIRE)--
AMC Theatres (NYSE:AMC), the largest theatrical exhibitor in the United States, in Europe & the Middle East, and in the world, today announced it has reached lease agreements with Unibail-Rodamco-Westfield (URW), global developer and operator of flagship destinations, to acquire and open two high-profile locations, each located in a major market. In the San Diego market, AMC will reopen AMC UTC 14 at Westfield UTC, located in La Jolla, this Thursday, February 10. In the Washington D.C. market, AMC will reopen AMC Montgomery 16 at Westfield Montgomery, with an expected opening date in March. Both are former ArcLight locations.
AMC remains in active discussions with other property owners regarding additional currently closed locations.
Upon reopening, guests at both locations can expect many of AMC’s most popular amenities, including AMC Stubs, a world class loyalty and subscription service that includes AMC Stubs A-List.
Adam Aron, Chairman and CEO of AMC, commented: “AMC continues to play offense and aggressively seek out opportunities to strengthen our company through strategic acquisitions. We look forward to bringing the AMC experience to even more guests in and around San Diego and Washington D.C., at these previously high-traffic, well known theatres. With this announcement, this brings the number up to six former ArcLight/Pacific theatres that are being added into the AMC orbit. Our most recent acquisitions of AMC The Grove 14 and AMC Americana at Brand 18 are already showing their success as those locations routinely finish in the top 10 theatres in box office performance among more than 150 theatres in the LA market, and in the top 30 in the entire United States.”
Dominic Lowe, U.S. Chief Operating Officer, URW added: “Westfield destinations are known for providing exceptional shopping, dining, and entertainment experiences, which is why we are so thrilled to welcome AMC to Westfield UTC and Westfield Montgomery. We know AMC will bring one-of-a-kind movie-going to the San Diego and D.C. markets, which will complement our offering and give visitors an amazing place to come together.”
About AMC Entertainment Holdings, Inc.
AMC is the largest movie exhibition company in the United States, the largest in Europe and the largest throughout the world with approximately 950 theatres and 10,500 screens across the globe. AMC has propelled innovation in the exhibition industry by: deploying its Signature power-recliner seats; delivering enhanced food and beverage choices; generating greater guest engagement through its loyalty and subscription programs, web site and mobile apps; offering premium large format experiences and playing a wide variety of content including the latest Hollywood releases and independent programming. For more information, visit amctheatres.com.
