Categories: Business NewsEntertainmentNewsRestaurant

RCI Hospitality Holdings Acquires Flight Club in Inkster

The lively exterior of Flight Club showcasing its nightlife appeal.

News Summary

RCI Hospitality Holdings has made a major investment in Inkster, purchasing the Flight Club strip club for $11 million. The deal includes significant cash and financing components, signaling RCI’s commitment to enhancing the venue. Known for its spectacular features and prime location near the Detroit Metro Airport, Flight Club aims to become a premier nightlife attraction. With plans for further development and high expectations for profitability, this acquisition marks an exciting chapter for the local entertainment scene, despite recent legal challenges.

Inkster Welcomes a New Player in the Nightlife Scene!

Big news for the city of Inkster! The Houston-based company, RCI Hospitality Holdings, Inc., has made headlines by purchasing the iconic strip club Flight Club for a whopping $11 million. With its prime location near the bustling Detroit Metro Airport, Flight Club is set to become a central entertainment spot in the area.

The Deal Breakdown

So, what does the $11 million purchase entail? Let’s break it down for you:

$3 million in cash
$5 million in seller financing at an 8% interest rate
$3 million cash for the club’s associated real estate

With such a structured deal, it looks like RCI is committed to making the most out of this new acquisition. The previous owner, well-known industry figure Alan Markovitz, has relocated to sunny Florida. Markovitz, who owned a slew of strip clubs along the famous 8 Mile Road, gained fame for his appearance on the HBO/Cinemax reality show “Topless Prophet” back in 2014 — and now, he’s passing the baton to RCI.

What’s in Store for Flight Club?

RCI’s President and CEO, Eric Langan, is looking forward to this acquisition, calling it an exciting addition to their portfolio of high-end clubs and restaurants. Interestingly, this marks the company’s first strip club purchase since they initiated their 5-Year ‘Back to Basics’ Capital Allocation Plan. With Flight Club being a well-established venue recently spruced up with renovations, it’s poised to attract both locals and visitors.

Unique Features Await!

Flight Club is not just your average strip club; it’s a spectacle! Spanning 10,000 square feet over two stories, it boasts thrilling features like a descending Corvette sports car that dramatically drops from the ceiling. Talk about a grand entrance! Plus, there’s valet parking, and let’s not forget about the five-star kitchen that promises delicious meals.

For those curious about when to visit, here’s the schedule:

Weekdays: 11:30 a.m. to 2:00 a.m.
Saturday: 1:00 p.m. to 2:00 a.m.
Sunday: 7:00 p.m. to 2:00 a.m.

Financial Forecasts and Recent Developments

Expectations are high, with predictions suggesting that this acquisition could contribute about $2 million in annualized adjusted EBITDA. RCI Hospitality Holdings, known for running over 60 locations in the adult nightclub and sports bar-restaurant sectors, is eager to invest in and develop Flight Club further.

However, it’s worth noting the establishment’s recent run-in with the law; in December, federal agents from the IRS’s criminal investigation division raided Flight Club. The reasons behind the raid are still cloudy, but it has certainly added an air of intrigue around this nightspot.

A Bright Future Ahead?

With RCI Hospitality Holdings taking the reins, the future is looking bright for Flight Club. As it continues to serve high-quality entertainment and exquisite dining options, locals and travelers passing through are sure to keep their eyes on this bustling hub of nightlife. Stay tuned, Inkster — your entertainment scene is about to get even more exciting!