Phoenix3 Holdings, which partners to invest in lifestyle and integrated service companies, has launched Boston-based Restaura Hospitality Group. The company will partner with senior living communities to manage their food and dining.
The company, launched Tuesday, is headed by Richard Schenkel, founder and executive chairman, and former Sodexo senior executive Joe Cuticelli, co-founder and CEO.
Phoenix3 Holdings began operations 16 months ago, Richard Schenkel told the McKnight’s Business Daily.
He said his career mainly has been focused on food and dining management services and healthcare for older adults. Before starting Phoenix3 Holdings, Schenkel founded Unidyne Corp. and Compass Community Living. Before that, he worked in hospitality at companies such as the Marriott Corp. for a large part of his career.
With the increasing number of baby boomers — those born between 1946 and 1964 — Restaura said it aims to create a “culture rooted in employee ownership with a data-driven operating model to deliver culinary experiences that meet the high expectations of today’s aging consumer population.”
The company is concentrated on the active adult lifestyle, independent living and continuing care retirement / life plan communities.
Baby boomers, Schenkel said, are looking for more sophisticated dining experiences than residents were seeking even five years ago.
Cuticelli said that the Restaura is driven by artificial intelligence and that predictive analytics are part of its technology suite.
“And so when we talk about technology, we’re not talking about robots running around the dining room. We’re talking about things that are meaningful, that can help improve the quality of life of the residents that we’re serving, help them have a better dining experience,” he said.
Culinary offerings will depend on the type of venues at individual communities, Schenkel said. Although the firm’s approach will not be one-size-fits-all, he said, the company will provide fresh foods, and everything will be made from scratch. Restaura will solicit daily, rather than monthly, feedback from residents, he added.
“The venues may change. Some places may have trattorias or pizzerias, but it’s going to be very dependent on … the active adult lifestyle senior living community,” Schenkel added.
Restaura will partner with communities to manage their food and dining.
“It’s their equipment. It’s their capital and facility, and we manage the resources there, provide all the services, provide the owners/associates of ours to run the day-to-day operation, plus the resources to support that on a day-to-day basis from a corporate infrastructure perspective,” Schenkel said.
Along with a data-driven operating model to deliver meals, the company is looking to develop a culture rooted in employee ownership. Schenkel said that more than 30% of the company will be provided to the employees for ownership, which is unique to the hospitality industry.
“Between the technology, culture and ownership, and culinary, plus all the other things, it makes a difference,” he said
The executives have spent the past several months building out their platform, selecting the executive team, building systems and resources and setting up the supply chain. Oct. 1 was the target date to move into the market, but the company has not engaged any communities yet.
“We’ve obviously had some inquiries as people heard or saw, but we’ve been very, very deliberate and disciplined that we would not do anything until we were ready as an organization,” Cuticelli said.
Inquiries were placed on the back burner until Tuesday’s launch, he said.
