Alicart Restaurant Group
Alicart Restaurant Group is a private multi-brand restaurant operator founded in 1990, running nine high-volume family-style venues — Carmine's Italian (6), Virgil's Real BBQ (3), Artie's Delicatessen, and Mermaid Inn — across NYC, Atlantic City, Washington D.C., Las Vegas, and the Bahamas, serving roughly 1,500 employees and millions of annual guests.
- Company typePrivate
- Founded1990
- HeadquartersNew York, United States
- Headcount5,001–10,000
- GTM typeB2C
- OfferingServices
What Alicart Restaurant Group does
Alicart Restaurant Group is a privately-held multi-brand restaurant operating company founded in 1990 by Artie Cutler. The group owns and operates nine high-volume, family-style venues across major U.S. tourist markets, including New York City (Times Square), Atlantic City, Washington D.C., Las Vegas, and the Bahamas. The brand portfolio comprises Carmine's Italian family-style restaurants (six locations), Virgil's Real BBQ (three locations), Artie's Delicatessen, and the Mermaid Inn seafood concept. The flagship Carmine's Times Square ranks among the top three highest-grossing restaurants in the United States, serving approximately 3,000 guests per day, while Carmine's Las Vegas at 28,000 square feet and 800 seats is the group's largest single venue. The company employs roughly 1,500 staff under centralized culinary leadership (Director of Culinary Operations Glenn Rolnick) and an executive team headed by CEO/President Jeffrey Bank (since 1999) with Group President Alexis Blair.
The company's underlying technology stack is composed of third-party, consumer-facing and back-office platforms rather than proprietary systems: Toast POS (20 terminals deployed across operations under a multi-unit partnership), Venga for guest engagement and marketing automation, Compeat for back-office and accounting, NCR Restaurant Guard for AI-driven cash-loss and fraud detection, and OpenTable for reservations. The group maintains PCI DSS and GDPR compliance standards. Revenue is generated primarily through on-premise dining, private events and group bookings (Carmine's DC alone operates nine private dining rooms), and catering, with average checks typical of mid-to-upper tier family-style Italian and BBQ concepts. Operationally, the model relies on large-format, high-seat-count venues in destination real estate, leveraging brand recognition and group-size dining economics that smaller single-unit operators cannot replicate.
The business model is transaction-based consumer dining supplemented by group/private events and catering. Go-to-market is anchored on brand recognition built over 25+ years, premium destination real estate positioning in tourist corridors, and large-format seating designed for high-volume group dining. Capital deployment has included conventional financing alongside EB-5 immigrant investor capital (structured with EB5AN) for selected expansions, including the Mermaid Inn Times Square location. Forward strategy articulated by management includes geographic expansion into Florida, Canada, and Aruba, a planned 550-seat oyster bar concept developed in partnership with Cindy Smith and Danny Abrams, and active discussions with Disney for a potential on-property restaurant.
Alicart Restaurant Group firmographics
Firmographics- Name
- Alicart Restaurant Group
- Legal name
- Alicart Group, LLC
- Website
- https://alicart.com
- Company type
- Private
- Founded year
- 1990
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Alicart Restaurant Group is a private multi-brand restaurant operator founded in 1990, running nine high-volume family-style venues — Carmine's Italian (6), Virgil's Real BBQ (3), Artie's Delicatessen, and Mermaid Inn — across NYC, Atlantic City, Washington D.C., Las Vegas, and the Bahamas, serving roughly 1,500 employees and millions of annual guests.
- Ownership category
- akta.pro rank
Alicart Restaurant Group industry classification
Industry- Product category
- Family-Style Restaurants
- NAICS
- Full-Service Restaurants (722511), Caterers (722320)
- SIC
- Retail-Eating Places (5812), Retail-Eating & Drinking Places (5810)
- akta.pro primary industry
- Family-Style Restaurants (THAFACAC)
- akta.pro secondary industry
- Hotel & Resort Banqueting (In-House Catering) (THAHAKAC)
Keywords
Where Alicart Restaurant Group is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices9 records
Markets served
Alicart Restaurant Group business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Restaurant Dining Sales: Revenue from food and beverage sales across 9 restaurant locations serving Italian (Carmine's) and BBQ (Virgil's) cuisine. Family-style dining model with per-person pricing.
- Private Events and Catering: Revenue from hosting private parties, corporate events, and catering services. Special Events team manages gatherings from intimate groups to 700+ seat events.
- Gift Cards: Sale of gift cards redeemable at Carmine's and Virgil's locations (excluding Atlantis, Bahamas).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Italian cuisine - main dishes |
| Unit Pricing | Pay-as-you-go | Italian cuisine - desserts |
| Unit Pricing | Pay-as-you-go | Italian cuisine - appetizers |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Alicart Restaurant Group product offering
Product offeringCore offering
Alicart Restaurant Group operates a portfolio of high-volume, large-format restaurants under the Carmine's (Southern Italian family-style) and Virgil's Real BBQ (authentic American barbecue) brands, with 9 locations across New York City, Atlantic City, Washington D.C., Las Vegas, and the Bahamas. The company also offers private events and catering services managed by a dedicated Special Events team for groups of 2 to 700+ guests, and sells physical gift cards through its own e-commerce storefront. Approximately 1,500 staff support an operation that serves roughly 1 million guests annually, with menu prices ranging from approximately $20 to $40 per dish in a family-style sharing format.
Product overview
Alicart Restaurant Group operates a portfolio of restaurant brands including Carmine's Family Style Italian Restaurant (6 locations serving Southern Italian cuisine in family-style portions), Virgil's Real BBQ (3 locations featuring authentic smoked meats including Memphis ribs, Texas brisket, and Carolina pulled pork), and The Mermaid Inn seafood restaurants. The company utilizes operational technology including Toast POS system for point-of-sale management, Venga for customer data analytics integrated with OpenTable reservations, Compeat for accounting, and NCR Restaurant Guard for AI-powered fraud detection.
Differentiator
Problem solved
Functional benefit
Brands
- Carmine's: Southern Italian Family Style restaurant serving abundant portions designed for sharing, with locations in NYC, Atlantic City, Washington D.C., Las Vegas, and Bahamas.
- Virgil's Real BBQ
- Artie's New York Delicatessen
- Mermaid Inn
Products and services
- Carmine's Family Style Italian Restaurant Southern Italian family-style restaurant serving abundant portions designed for sharing, including homemade pastas, classic red-sauce dishes, and Italian-American cuisine. Operates 6 locations in Times Square NYC, Upper West Side NYC, Atlantic City NJ, Washington D.C., Las Vegas NV, and Atlantis Bahamas, with seat capacities ranging from 400 to 800.
- Virgil's Real BBQ Casual restaurant serving authentic Southern home-style barbecue smoked on premises, including Memphis ribs, Texas brisket, and Carolina pulled pork. Operates 3 locations in Times Square NYC, Las Vegas NV, and Atlantis Bahamas.
- Mermaid Inn Oyster Bar Seafood/oyster bar concept featuring East Coast and West Coast oysters, operated in partnership with restaurateurs Cindy Smith and Danny Abrams. The flagship 550-seat Times Square location is the most recent concept.
- Artie's New York Delicatessen New York-style delicatessen concept that was featured on 'The Martha Stewart Show.' An Artie's location to Las Vegas has been planned.
- Private Events and Catering Private party hosting and catering services offered across all Carmine's and Virgil's locations, managed by a dedicated Special Events team (contact 212.221.3800 x 5). Events range from intimate groups to 700+ guests, with private dining rooms for 40-200+ guests at Carmine's locations.
- Gift Cards Physical gift cards available for purchase online through Alicart's e-commerce storefront, redeemable at all Carmine's and Virgil's locations (excluding Atlantis, Bahamas).
Quantifiable outcome
- Zero down years at Atlantic City location since opening, despite market challenges including Tropicana bankruptcy, Superstorm Sandy
- +4 more outcomes
Companies that use Alicart Restaurant Group
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Alicart Restaurant Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
AI capability2 records
Feature3 records
Alicart Restaurant Group partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and flagship.
- Toast, Inc.coreStrategic partnership to deploy cloud-based POS management technology across Alicart's high-volume dining venues including Carmine's and Virgil's Real BBQ. Alicart deploys 20 Toast terminals including Toast Go handheld devices to manage guest volume and improve operational efficiency. Group President Alexis Blair joined Toast's Customer Advisory Board for product development input.
- Cindy Smith and Danny AbramsflagshipRestaurant power couple (operators of Mermaid Inn in Chelsea and Greenwich Village) partnering with Alicart to open Mermaid Inn Oyster Bar at Times Square with 550 seats. Smith and Abrams bring industry knowledge and operate the new venue with Bank as president and CEO of Alicart.
- VengacoreCustomer data analytics platform that enhances OpenTable reservations with pre-shift reports showing customer preferences, visit frequency, and cross-location tracking to offer personalized guest experiences.
- CompeatcoreAccounting software provider described as the gold standard for restaurant accounting. System ties into invoices and points of sale for unified financial management across all locations.
- NCR Corporation (Restaurant Guard)coreAI-powered fraud detection system that scans hundreds of thousands of daily transactions for anomalies, functioning as a deterrent against internal theft and operational fraud.
Scale indicators10 records
Recent moves10 records
Expansion highlights6 records
Alicart Restaurant Group competitors and assessment
Company assessmentDirect peers
- Buca di Beppo: Family-style Italian-American restaurant chain with large-format dining, generous shared portions, and private event offerings. Closest concept-level analogue to Carmine's in terms of menu, format, and group-dining orientation.
- BR Guest Hospitality: NYC-based independent restaurant group operating multiple concepts (including Strip House, Blue Water Grill, Bill's Bar & Burger). Comparable multi-concept, multi-location urban operator with strong events business.
- Union Square Hospitality Group: Founded by Danny Meyer, operates multiple high-volume NYC restaurants (Union Square Cafe, Gramercy Tavern, Shake Shack origins). Comparable multi-brand, full-service, large-format operator with strong events business and brand recognition.
- Lettuce Entertain You Enterprises: Private Chicago-based restaurant group operating 60+ concepts across the US. Comparable independent multi-brand operator with family-style, BBQ, and event-driven concepts and similar scale.
- TAO Group Hospitality: Operates high-volume, mega-format Asian and Italian restaurants in Las Vegas, NYC, and other destinations. Closest direct comparison on large-format destination dining, events, and high-spend tourist markets.
- Hillstone Restaurant Group: Privately held operator of Hillstone, R+D Kitchen, and other full-service concepts. Comparable independent multi-concept operator focused on consistent scratch cooking and consistent execution across markets.
- Patina Restaurant Group: Operates full-service restaurants, catering, and events inside destination venues (including Disney and NYC landmarks). Comparable in operating high-volume restaurants inside third-party venues and running events business.
Broad incumbents
- Darden Restaurants: Public multi-brand full-service restaurant company (Olive Garden, LongHorn, Capital Grille). Comparable multi-concept full-service operator at much larger scale; relevant valuation and capital-structure benchmark.
- Bloomin' Brands: Public multi-brand full-service operator (Outback, Carrabba's, Bonefish). Comparable broad-incumbent operator with family-style and casual dining concepts at much larger scale.
- Landry's Inc. Privately held hospitality conglomerate operating 60+ restaurant concepts including Bubba Gump, Morton's, and Rainforest Cafe. Comparable multi-concept full-service operator with destination/tourist venue exposure.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Alicart Restaurant Group social profiles
Digital presenceAlicart Restaurant Group compliance and trust
Trust signalCompliance2 records
Alicart Restaurant Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Alicart Restaurant Group leadership team
Management profileNumber of profiles
Profiles4 records
Alicart Restaurant Group subsidiaries and ownership
Company hierarchySubsidiaries8 records
Alicart Restaurant Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Alicart Restaurant Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Alicart Restaurant Group
What does Alicart Restaurant Group do?
Alicart Restaurant Group operates a portfolio of high-volume, large-format restaurants under the Carmine's (Southern Italian family-style) and Virgil's Real BBQ (authentic American barbecue) brands, with 9 locations across New York City, Atlantic City, Washington D.C., Las Vegas, and the Bahamas. The company also offers private events and catering services managed by a dedicated Special Events team for groups of 2 to 700+ guests, and sells physical gift cards through its own e-commerce storefront. Approximately 1,500 staff support an operation that serves roughly 1 million guests annually, with menu prices ranging from approximately $20 to $40 per dish in a family-style sharing format.
Is Alicart Restaurant Group a public or private company?
Alicart Restaurant Group is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Alicart Restaurant Group founded?
Alicart Restaurant Group was founded in 1990. It employs 5,001 to 10,000 people.
Where is Alicart Restaurant Group based?
Alicart Restaurant Group is headquartered in New York, United States, in the North America region.
How does Alicart Restaurant Group make money?
Three revenue lines are on record. Restaurant Dining Sales are the primary driver. The others are private Events and Catering and gift Cards.
Who are Alicart Restaurant Group's main competitors?
Direct peers on record are Buca di Beppo, BR Guest Hospitality, Union Square Hospitality Group, Lettuce Entertain You Enterprises, TAO Group Hospitality, Hillstone Restaurant Group and Patina Restaurant Group. Broad incumbents are Darden Restaurants, Bloomin' Brands and Landry's Inc..
Does Alicart Restaurant Group have an API?
No public API is recorded for Alicart Restaurant Group.
What industry is Alicart Restaurant Group in?
Alicart Restaurant Group's product category is Family-Style Restaurants. Its primary akta.pro industry code is THAFACAC, Family-Style Restaurants, with a secondary code of THAHAKAC, Hotel & Resort Banqueting (In-House Catering). Its NAICS code is 722511 and its SIC code is 5812.