Billionaire Tilman Fertitta, CEO of Landry's Inc. and owner of the Houston Rockets, has added a storied piece to his collection of hospitality properties with the purchase of New York's legendary Keens Steakhouse. As reported by Chron.com, the transaction cost Fertitta $30 million, securing a piece of New York's culinary history that traces its origins back to 1885. "This is a New York jewel," Fertitta said, committing to continue serving up what he termed "one of the best experiences in New York City."
The acquisition is a notable development because Keens, nestled at 72 W. 36th St. near 6th Avenue and Herald Square, has been a Midtown Manhattan mainstay for over a century. It treats patrons to an ambiance soaked in historic charm and is famous for its mutton chops and an extensive collection of churchwarden pipes. In a commitment to preserve tradition, Fertitta has pledged to maintain the legacy that Keens has built. Bonnie Jenkins, Keens General Manager and trustee of the estate of the late George Schwarz who previously owned the restaurant, expressed belief in Fertitta's dedication. "I believe George would be happy to know that our new owner, Tilman Fertitta, is committed to maintaining the legacy of our historic brand," Jenkins told Bloomberg.
The momentous purchase caps off a series of recent business plays by Fertitta. Earlier this year, he notably upped his stake in Wynn Resorts and was spotted in attendance at the SpaceX rocket launch with notable figures such as Elon Musk and President-elect Donald Trump. According to a Houston Chronicle report, the experience left an impression on Fertitta, who was struck by the scale and the all-encompassing nature of the SpaceX's operations in South Texas. Moreover, his recent restaurant venture, The Corner Store, swiftly became a hot spot for celebrity sightings in New York City.
The acquisition of Keens Steakhouse fits into Fertitta's broader strategy to steadily amass what he refers to as "trophy assets." With a net worth exceeding $10.1 billion according to Forbes, Fertitta has the means to transform his vision into reality, as he continues to diversify his holdings, which already include a range of upmarket and casual dining establishments. In the realm of sports, Fertitta's Houston Rockets are also generating positive buzz, currently holding a 12-5 record and ranking third in the Western Conference, further testament to Fertitta's multifaceted business success.
