The news of the PalaceHarris/Rales Group reportedly agreeing to purchase Commanders Palace, a renowned New Orleans restaurant, has been met with excitement and anticipation. The restaurant, which has been a staple of the city since 1880, is known for its Creole-style cuisine and its iconic turquoise-and-white building.
The PalaceHarris/Rales Group, which is owned by brothers Steven and Mitchell Rales, is a private equity firm that has invested in a variety of businesses, including hotels and restaurants. The group is reportedly paying $20 million for the restaurant, which is owned by the Brennan family.
The purchase of Commanders Palace is seen as a positive move for the city of New Orleans. The restaurant is a beloved institution in the city and its sale to the PalaceHarris/Rales Group will ensure its continued success. The new owners plan to invest in the restaurant and make improvements to ensure that it remains a top destination for tourists and locals alike.
The new owners have also promised to keep the restaurant’s current staff and management team in place. This is welcome news for the employees of Commanders Palace, who have been with the restaurant for many years and are integral to its success.
The purchase of Commanders Palace by the PalaceHarris/Rales Group is an exciting development for the city of New Orleans. The restaurant is an iconic part of the city’s culture and its sale to a private equity firm ensures that it will remain a top destination for years to come. The new owners have promised to invest in the restaurant and keep its current staff and management team in place, which will help ensure its continued success.
