Hall of Fame Village powered by Johnson Controls Announces Multi-Year Concessionaire Agreement with AVI Foodsystems
CANTON, Ohio – March 8, 2022 – Hall of Fame Resort & Entertainment Company (“HOFV” or the “Company”) (NASDAQ: HOFV, HOFVW), the only resort, entertainment and media company centered around the power of professional football, today announced that it has entered into a multi-year concessionaire agreement with Warren, Ohio-based AVI Foodsystems (“AVI”). In addition to operating the Starbucks location at the Constellation Center for Excellence, which is slated to open in the second quarter of 2022, the agreement will make AVI the exclusive provider of concessions and catering services at the Tom Benson Hall of Fame Stadium and the HOFV Sports Complex located on the campus of the Hall of Fame Village powered by Johnson Controls.
“We are thrilled to expand our partnership with AVI Foodsystems, an Ohio-based company that shares our values of excellence and appreciation for the Buckeye State,” said Mike Levy, President of Operations at HOFV. “It is important for us to ensure that the world-class facilities we are building have a world-class concessionaire operator, and we couldn’t think of anyone better suited for this responsibility than AVI. We look forward to benefiting from AVI’s pristine reputation in foodservice and to providing visitors of the Hall of Fame Village with a seamless and enjoyable concessionaire experience.”
HOFV and AVI struck an initial partnership in June 2021, which made AVI the operating partner for the Hall of Fame Village’s football-themed Starbucks location, the first announced retail tenant for the Constellation Center for Excellence. The expanded concessionaire agreement holds a five-year term and will also entitle AVI to participate in providing catering services at Constellation Center for Excellence and Center for Performance.
Scott Grzelewski, Chief Operating Officer for AVI Foodsystems, said, “As a family organization and an active member of the community, AVI is honored to be a partner to the Hall of Fame Village and bring them a distinctive and remarkable food and hospitality program. We look forward to a long-lasting partnership, serving our friends, neighbors and fellow football fans in Northeast Ohio.”
AVI will begin providing concessionary services at the Tom Benson Hall of Fame Stadium and HOFV Sports Complex immediately. Both HOFV and AVI anticipate its Starbucks location will open before summer, one of the busiest seasons of the year for the Hall of Fame Village, ensuring that all who visit the destination for youth sports and other events will be able to stay on campus for hot and cold beverages and treats.
About Hall of Fame Resort & Entertainment Company
Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) is a resort and entertainment company leveraging the power and popularity of professional football and its legendary players in partnership with the Pro Football Hall of Fame. Headquartered in Canton, Ohio, the Hall of Fame Resort & Entertainment Company is the owner of the Hall of Fame Village powered by Johnson Controls, a multi-use sports, entertainment and media destination centered around the Pro Football Hall of Fame's campus. Additional information on the Company can be found at www.HOFREco.com.
About Hall of Fame Village powered by Johnson Controls
Hall of Fame Village powered by Johnson Controls is a multi-use sports, entertainment and media destination centered around the Pro Football Hall of Fame's campus in Canton, Ohio. Owned by the Hall of Fame Resort and Entertainment Company (NASDAQ: HOFV, HOFVW), the Village currently has over $250 million worth of assets under management and is one of the largest ongoing construction projects in Ohio. Phase I of the project entailed the construction of the Tom Benson Hall of Fame Stadium, a world-class 20,000 seat, sports and entertainment stadium, and the National Youth Football and Sports Complex. Phase II, currently under construction, will add the Constellation Center for Excellence, the Center for Performance, a Fan Engagement Zone, a Hall of Fame indoor waterpark and a Hilton Tapestry Hotel. Phase III is currently in planning stages. For more information, visit www.HOFVillage.com.
About AVI Foodsystems
AVI Foodsystems was founded by John Payiavlas in 1960 as a single person operation. Headquartered in Warren, Ohio, today AVI is the largest family-owned food and hospitality company in the country serving customers in 44 states. With an “we’re in the people business” approach, AVI provides fresh, high-quality food service and best-in-class hospitality experiences to clients in Business and Industry, K-12 and Higher Education, Healthcare, Leisure and Entertainment segments including a complete offering of on-site dining, vending, micro markets, catering, concessions, office coffee and environmental services. For more information, experience our family difference at www.avifoodsystems.com.
Certain statements made herein are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words and phrases such as “opportunity,” “future,” “will,” “goal,” and “look forward” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the Company’s ability to manage growth; the Company’s ability to execute its business plan and meet its projections, including refinancing its existing term loan and obtaining financing to construct planned facilities; potential litigation involving the Company; changes in applicable laws or regulations; general economic and market conditions impacting demand for the Company’s products and services, and in particular economic and market conditions in the resort and entertainment industry; the potential adverse effects of the ongoing global coronavirus (COVID-19) pandemic on capital markets, general economic conditions, unemployment and the Company’s liquidity, operations and personnel, the inability to maintain the listing of the Company’s shares on Nasdaq, as well as those risks and uncertainties discussed from time to time in our reports and other public filings with the SEC. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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