Studio One Theaters
Dinner and a movie might be a routine night out in most places, but definitely not at Studio One Theaters in Portland, Oregon.
The complex takes the dining and viewing experience to unheard-of levels. It’s the dreamchild of owners Rudyard and Shelly Coltman, who called upon their decades of experience in the entertainment business to imagine Studio One, which opened in December 2018.
At a time when reclining seats and surround sound define luxury for most theaters, Studio One offers viewing from seven different penthouses, each styled in the décor of a different city, such as Paris, Tokyo and Rio. Within each penthouse, guests can wander from a dining room to a library and bedroom area and watch first-run movies.
Gourmet meals are served in the penthouses and in a separate restaurant in the converted warehouse while state-of-the-art 128-channel Dolby ATMOS sound and exclusive 4K laser projection systems deliver an unparalleled viewing experience. Studio One also hosts live performances and dining events on its one-of-a-kind 4K performance stage.
Studio One Theaters also features one of Portland’s most extensive bar offerings, with over 50 wines by the glass, a 400+ wine list, a dozen beers on tap, and a wide variety of cocktails.
"We’re creating a multi-entertainment environment where it’s the ultimate night out," said Rudyard.
Though the Coltmans had previously owned a multi-state chain of theaters, they envisioned something grander for Studio One, a theater that wouldn’t be like any other in the industry.
Simply finding a building that could accommodate all the venues was a challenge. The design, renovations, equipping and decorating were huge tasks. They needed a lender who shared the bold vision and who would be flexible and creative in securing the necessary financing.
“KeyBank guided us through the entire process and made it as smooth as possible. I think we’ve found our bank for the next 15-plus years.” – Rudyard Coltman, co-owner, Studio One Theaters
The Coltmans had worked with a local bank on previous projects but contacted KeyBank on the recommendation of a colleague.
They welcomed the guidance and personal attention they received at KeyBank and eventually decided upon a Small Business Administration (SBA) 7(a) loan. The SBA loan requires a smaller down payment and has a longer repayment period than a conventional loan, two crucial advantages for a new business getting off the ground.
"It was a great fit and a great process. Not that I want to speak poorly of any competition, but it’s been the best of all the processes we’ve been through and very customer friendly," Rudyard said.
In addition to the loan, Studio One does its payroll, vendor accounts and other banking through KeyBank.
Since opening late last year, Studio One has been drawing crowds and even people who simply want a tour of the building.
"They’ve been coming in waves and waves," Rudyard said. "We have a cult following of people who have come 12, 14, 15 times since we’ve opened. A lot of regulars are addicted to the experience – they can’t stop coming."
The Coltmans are already planning, with the help of KeyBank, to build additional Studio One Theaters, first in Portland, but eventually in other cities.
"Once people have been here, they don’t want to go back to the same old movie theater experience," Shelly said.