Rolando Rodriguez, the chief executive who oversees the Marcus Theaters chain, will retire in early October, the company said Thursday.
Rodriguez, who has been with the Milwaukee-based exhibitor since 2013, continues to serve as chairman of the board of directors for the National Association of Theater Owners, the premier exhibitor lobby group and organizer of the annual CinemaCon event in Las Vegas. Prior to joining Marcus, Rodriguez was CEO of Rave Cinemas and had, among other things, three decades as an exec at AMC Theaters.
Mark Gramz, who has been designated as Rodriguez’s successor, has held the role of executive vice president of Marcus Theaters since 2012. Gramz is currently a member of NATO’s Government Relations Committee and its advisory board.
Marcus Theaters, which operates 85 locations in the US, announced $63 million in theater admission revenue and $58 million in theater concessions for the second quarter ended June 30, up from the same period in 2021, amid a strong cash register recovery led by Top Gun: Maverick, Doctor Strange in the Multiverse of Madness and Jurassic World Dominion.
“We are proud of Rolando’s many contributions to our business, the cinema industry and the communities we serve,” said Gregory Marcus, CEO of The Marcus Corporation. “While he retires, we’ll be in good hands with Mark, who has played a key role in the long-term success of Marcus Theatres. Together they will work for a seamless transition.”
The chain is the fourth largest in the US, after AMC, Regal and Cinemark. Unlike his rivals, Marcus is seen as more isolated from some economic headwinds, as the parent company also has a hotel division that has helped diversify its revenue streams and owns real estate for most of the theater chains it operates. In an investor presentation in August, the company outlined a growth plan to both build new theaters and acquire circuits.
During an earnings call on Aug. 3, Marcus Corp. CFO Chad Paris said theater revenue for the quarter was down 24 percent compared to pre-pandemic 2019, but Marcus outperformed competitors in that area. Paris also noted an increase in ticket price, saying, “Our average admission price is up 3.3 percent in the second quarter of fiscal 2022 compared to last year.”