Rolling Stone venue to open in Los Angeles

Inspired by the iconic magazine that continues to help define the pulse and power of music and pop culture, the first U.S. Rolling Stone (www.RollingStone.com) venue will open at Los Angeles’s popular Hollywood and Highland Center (www.HollywoodandHighland.com) in the summer of 2010. The announcement was made today by the venue’s founders – Lucky Rug Group principals Niall Donnelly and Joe Altounian – with legendary Rolling Stone editor and publisher Jann S. Wenner.

Ideally situated among some of the country’s most famous and historic attractions, including the Hollywood Walk of Fame, Grauman’s Chinese Theater and the Kodak Theatre, the multi-level Rolling Stone space will encompass more than 10,000-square feet and serve as an exciting blend of equal parts restaurant, bar, lounge and upscale private-event space. Designed by Brodin Design (www.brodindesignbuild.com), the venue will reflect the progressive timelessness for which Rolling Stone is known – featuring exposed black brick, tufted leather and vaulted ceilings throughout the location, as well as a stunning antique iron staircase.

Rolling Stone magazine is widely regarded as the predominant music authority in American culture. Commenting on the new Hollywood venue, the magazine’s founder and publisher Wenner said, “We’ve been looking for the ideal opportunity to expand the Rolling Stone brand for some time and we are thrilled to be working with Lucky Rug Group. Southern California and the city of Los Angeles are deeply entrenched in the history of both Rolling Stone and rock music, and we’re excited to bring to life Rolling Stone magazine in Hollywood through what will be a very special place.”

Ownership of Lucky Rug Group is comprised of entrepreneurs Niall Donnelly and Joe Altounian. A serial entrepreneur, Donnelly is known for his ability to create lucrative business opportunities in unforeseen sectors, having spent more than 12 years owning and operating some of the most popular and successful bars and clubs in the United Kingdom and Ireland, including Anam Bar, Slim Jim’s Liquor Store, the Woodbine, the Blue Note, Blackjack Liquor Shack and many more. The Irish Times recently named the long-haired and tattooed Donnelly in the top 10 Irish “Entrepreneurs to Watch” worldwide, in large part for his unconventional creativity and vision of delivering the same kind of successful business acumen in the U.S. that he has achieved in the U.K.

With over 10 years in the Southern California commercial and residential real estate industry, Altounian has played an integral role in numerous condo conversions and land entitlement projects. Donnelly and Altounian created the Lucky Rug Group in 2009 and have leveraged their extensive knowledge of nightlife properties and the real estate industry to bring the first-ever Rolling Stone venue to Los Angeles.

“For those who love music and pop culture, the words ‘Rolling Stone’ continue to mean so much to so many people around the world, especially in the U.S.,” said Donnelly. “We are both excited and determined to bring the spirit of the magazine to life – the edginess, the coolness, the classiness and the timelessness – in making this venue a place to see and be seen in.”

“The Rolling Stone brand transcends age, gender and musical preference and we are committed in making sure that everything that encompasses the Rolling Stone space at Hollywood and Highland Center will reflect that,” added Altounian. “Our vision is to provide guests with unforgettable food and entertainment with the unmistakable Rolling Stone style as the backdrop.”