Black Meetings & Tourism - African-American Enterprenuers Take Over $4 Million Five Star Restaurant In Portland, Oregon

Industry Briefs
African-American Enterprenuers Take Over $4 Million Five Star Restaurant In Portland, Oregon
You won’t find any disc jockey’s spinning platters at this place, no loud music. According to Portland’s prominent African-American business entrepreneurs, Frank Taylor, Bernie Foster and Roy Jay. The new restaurant called Quartet is ranked as a five-star dining experience located on Portland’s west side high rent district. The January 2013 opening is more than just an “Open for Business” sign on the front door. This dining experience is more than excellent food; it has atmosphere and music for that caliber of customer that expects to receive concierge level treatment from their Gold, Platinum or Black American Express cards. On the shores of Portland’s Willamette River, the 7,000 plus-sq. ft. restaurant is surrounded by high end urban condominiums, professional office buildings and within minutes from world renowned Oregon Health Sciences University, five minutes from downtown Portland and 10 minutes from home of Portland Trailblazers. Jay’s background in business, conventions, politics and marketing says that Quartet will “be an experience that customers will call and tell their friends about …. While they are still in the restaurant.” Combined with self-park or VIP valet parking for 200 plus vehicles, the restaurant plans to also have convenient pick-up and delivery of hotel guests and conventioneers without having to wait for a cab or a rental car. The business entrepreneurs acquired the property after previous owners had invested over $4 million in furnishings, artwork, equipment and design work, but closed after six months due to incompatible market conditions in 2008. Once termed as the most expensive restaurant in Portland ($250 per couple), the new operators have created a new marketing strategy which keeps the restaurant Portland’s only five-star operation, but offering affordable three-star pricing. Taylor says that Quartet will offer music six days a week. The operation included one other African-American investor… Jay laughingly said “none of us play basketball or football ... We just play BANK” No banks were involved in the financing of the acquisition.

Industry Briefs

African-American Enterprenuers Take Over $4 Million Five Star Restaurant In Portland, Oregon

You won’t find any disc jockey’s spinning platters at this place, no loud music. According to Portland’s prominent African-American business entrepreneurs, Frank Taylor, Bernie Foster and Roy Jay. The new restaurant called Quartet is ranked as a five-star dining experience located on Portland’s west side high rent district.

The January 2013 opening is more than just an “Open for Business” sign on the front door. This dining experience is more than excellent food; it has atmosphere and music for that caliber of customer that expects to receive concierge level treatment from their Gold, Platinum or Black American Express cards.

On the shores of Portland’s Willamette River, the 7,000 plus-sq. ft. restaurant is surrounded by high end urban condominiums, professional office buildings and within minutes from world renowned Oregon Health Sciences University, five minutes from downtown Portland and 10 minutes from home of Portland Trailblazers.

Jay’s background in business, conventions, politics and marketing says that Quartet will “be an experience that customers will call and tell their friends about …. While they are still in the restaurant.” Combined with self-park or VIP valet parking for 200 plus vehicles, the restaurant plans to also have convenient pick-up and delivery of hotel guests and conventioneers without having to wait for a cab or a rental car.

The business entrepreneurs acquired the property after previous owners had invested over $4 million in furnishings, artwork, equipment and design work, but closed after six months due to incompatible market conditions in 2008. Once termed as the most expensive restaurant in Portland ($250 per couple), the new operators have created a new marketing strategy which keeps the restaurant Portland’s only five-star operation, but offering affordable three-star pricing.

Taylor says that Quartet will offer music six days a week. The operation included one other African-American investor… Jay laughingly said “none of us play basketball or football ... We just play BANK” No banks were involved in the financing of the acquisition.