Downtown Restaurant Owner Closes to Focus on Isla Verde Business
SAN JUAN — After rumors surfaced over the closure of Downtown, a restaurant and bar in Hato Rey, its owner, Matías Fernández said Thursday that the move is merely an expansion strategy.
Fernández explained to Caribbean Business that Downtown closed to concentrate commercial efforts in Vivo Beach Club in Isla Verde, which has four restaurants, a brewery, a convention center, a beach club and concert areas.
The restaurateur assured that Downtown’s closure isn’t due to financial concerns, although he confirmed that the concert room saw a downturn in January.
“All restaurants in Puerto Rico have suffered some losses; it’s normal…but we decided to focus on Isla Verde, which is the biggest business for all and the most profitable,” he said in reference to the recent decision by MLM Restaurants, which owns both Downtown and Vivo Beach Club.
Fernández assured that the closure wasn’t a result of debts, but simply a measure to reduce the work load that managing businesses in different locations entails.
Despite the Hato Rey closure, the proprietor assured that “he won’t fire any employees.” About 30 positions will be relocated to different areas in Isla Verde, including two new restaurants that will open next week.