SB Wine Cask Futures - Anyone Going?!?!?

WINE TALK
1

I will be pouring at least 3 future releases at this year’s Wine Cask Futures Event. It’s scheduled for Sat., March 28 at the Doubletree in Santa Barbara, across from East Beach. There will be over 50 wineries pouring ‘future releases’ . . .

Hoping that a few brave souls may make it up here . . . let me know!

2

Was there another venue change? I got a letter that I thought said they were going to hold the event at the Ventura facility in order to lower the cost?

3

Yep, they brought it back to SB Cty at least . . .

One day only this year, not two . . . and it should truly be a great event!

4

Not sure yet if we’ll be able to make it up. Trying to figure out our schedule.

5

Much better venue. I heard they dropped the ticket price $10? Is that true? Is the Doubletree the old Fess Parker resort? If so, the round plaza would be a great location, weather permitting.

6

I have an email for the event that says it is 2 days. I recieved this Monday, so things may have changed. Which date are you seeing as current?

WINE CASK FUTURES 2009
20th Anniversary offering!
Over 50 wineries involved this year with over 200 wines being poured at our two events -

SATURDAY: March 28th - 12:00pm to 3:00pm - At The Wine Cask
SATURDAY: APRIL 11th - 12:00pm to 3:00pm - Fess Parker Resort in Los Olivos

Larry, Dana and I will be going and will look you up. [cheers.gif]

7

They have not sent out the ‘official’ email but I’ve been in touch with the powers that be and it does appear that the event will be at the Doubletree on the 28th - and that there will be only one day, not two.

Mike and Dana - very much looking forward to seeing the two of you there!!! And anyone else, for that matter . . .

Will update again when I hear more . . .

Cheers!

8

Larry - what’s the ticket price to attend this event?

9

Not sure what the ticket price will be. It was originally set at $69 but I’ve heard them discussing decreasing the price . . .

Will update when I have more info . . .

Cheers!

10

Update when you can. Thanks in advance.

11

Just a heads up that it does NOT look like this will be happening . . . but there will be at least one (or two) other events in April / May here in SB . . .

Cheers!

12

Thanks for the update Larry.

13

Any idea as to why? Did they not think there would be enough interest this year?

14

I just heard they just closed their doors…restaurant and wine shop. Both are empty.

15

Wow. Can’t believe that. Sad.

16

Their web site is still up and active and did not see any news in searching the web. Hey Larry, the web site shows you as hosting a wine event on the 28th of this month. [shrug.gif]

17

Found on a business for sale website. Wine Cask is FOR SALE!! [shock.gif]

Profile: Santa Barbara’s Premier Fine Wine And Dining Establishment.
Ad/Listing Information/ Contact Information

Status: Available
State: California
Location: Santa Barbara
Area: Central Coast Area
County: Santa Barbara
City: None Given
Primary Category: Restaurant Related
Seller Or Contact: Brian Gunshor, Broker
Primary Phone: 310-539-8300
Alternate Phone: None Given
Email Address: Email This Advertiser
Date Started: 2/4/09
Date Last Revised: 2/4/09
BizBen Ad #: 138275
Financial Information Detailed Information
Asking Price: $517,500
Down Payment: Call/Email
Annual Revenue: $2,457,000
Annual Adjusted Net: Call/Email
Price Range: $500,001 to $1 Million
Franchise: No
Relocatable: No
Home Based: No
Real Estate Included: No
Bkr To Bkr Coop: Yes

Description:
Located In The Heart Of Santa Barbara On State Street In The El Paseo Mission-Style Historic Landmark, Sophisticated And Upscale Dinner Guests Enter Through A Secluded Garden Courtyard In To A Dramatic Dining Room Complete With Hand Painted Beamed Ceilings And A Baronial Fireplace. For Years This Restaurant Has Been Regarded As “The Most Beautiful Dining Room In Santa Barbara.” Winecask’s Chefs Use Regional Ingredients To Fashion Imaginative Plates Of California-Style Cuisine. The Executive Chef Hails From A Venue Were He Was An Integral Part Of A Michelin 2 Star Award. The Restaurant’s Wine Spectator Grand Award And Wine Enthusiast Award Of Ultimate Distinction Places The Winecask Among The Top 100 Restaurants In The World. Current Offerings Are Featured On A List Of Over 2500 Wines, Specializing In Hard-To-Find Selections, With A Santa Barbara County Emphasis. This Is Actually Two Restaurants In One, With A Smaller, Separate Bar And Bistro Café Featuring Smaller Dishes At Slightly Lower Pricing. The Restaurant Also Has A Private Catering Operation, And Liquor Licenses For On Site Spirits, Wine And Liquor, Off-Site Catering And Separate Wine Store Stales. This Is A Very Unique Opportunity For A High Profile Gourmet Chef Operator To Acquire A Venue That Must Be Seen To Truly Be Appreciated For Literally Pennies On The Seller’s Original Investment Dollars. All Inquiries Are Limited To Principals Only, Please.

18

Mike,

With $2.5million in annual revenue, and a 500k asking price, there MUST be some loans to pay off, as the net profit on that place is likely to be at bare minimum $250k/annum, probably 2X that…wow

19

I think he may have overpaid, then overextended himself. He opened new Wine Cask stores in Calabasas and Oxnard recently. Bad timing on the purchase at the top of the market, and the expansion may have been the nail in the coffin.

20

Restaurant, Wine Bar, and Shop are all closed and cleaned out - happened last night after business hours . . .

I DID have an event planned their for the 28th and Tom was quite excited about it . . . but it ain’t gonna happen . . .

Very sad news as this place has been an institution for both SB restaurants and wine shops . . .

Will keep updated as I get more - including other upcoming futures event (s) . . .

Cheers.