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RAINFOREST CAFE INCOUTLINE TO RAINFOREST CAFE RESEARCH REPORTCORPORATE BACKGROUNDHistoryFormationRainforest Cafe Inc was incorporated in Minnesota on February 3 1994 to ownand operate restaurant and retail facilities under the name of Rainforest Cafe - AWild Place to Shop and EatChairman of the Board and Chief Executive OfficerElection Lyle Berman was elected Chairman and CEO of Rainforest Cafe at itsinception in February 1994Background Berman has been Chairman and CEO of Grand Casinos Inc andits predecessor since October 1990 He is also CEO and a director ofStratosphere Corporation and a director of G-III Apparel Group Ltd InnovativeGaming Corporation of America and New Horizon Kids Quest Inc He previouslywas the President and CEO of Berman Specialty Stores Inc Bermans from1978 until November 1988 when Bermans was acquired by Wilson Suede andLeather a subsidiary of Melville CorporationPresident and Chief Operating OfficerElection Martin J ODowd was elected in May of 1995 He is the first to holdthis position As of November 18 1996 ODowd has taken a 30 day leave ofabsence for personal reasons Dennis Nielson analyst for R J Steichenpredicts that if the leave is only 30 days there should not be a lasting impact onthe company Nielson November 18 1996Background ODowd is a director of Elephant and Castle Group Inc He waspreviously the Corporate Director Food Beverage Services for Holiday InnWorldwide from July 1987 to May 1995 From August 1985 to July 1987 ODowdwas Vice President and General Operations Manager for the Hard Rock Cafe inNew YorkManagement Philosophy Berman and ODowd stated that they are committedto identifying and acquiring the resources that will allow them to continue theirhigh rate of growthMain ActivitiesRainforest Cafe has two areas of each facility the restaurant and the retail areaRestaurantThe company believes that its large menu selection is an important factor in theappeal of its restaurants The restaurant serves lunch and dinner entrees whichrange in price from 795 to 1595 The theme of the company is mirrored onthe menu with all food and
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