Cool River Cafe in Austin (there are two other locations - one in Dallas and one in Denver) has a lot to offer. Not only is it a popular upscale steakhouse with a large, high ceiling, semi-formal dining room, the other half of the restaurant consists of a popular bar in its own right.
The menu can be a bit pricey but receives consistently great reviews. Including appetizers and side items and drinks, meals may run in excess of $50 a person.
Cool River also specializes in banquets, corporate events, holiday parties, etc. I've actually attended two company Christmas parties at Cool River - one in a private room when the company spent a lot of money flying in executives and congratulating itself, and one a couple years later when our small local office was given a limited budget and three of us just spent the afternooon getting trashed in the bar.
I much preferred the second Christmas party.
The bar has a dance floor, live music on weekends, and is a popular pick up place for the (sometimes way) over 30 crowd. The mating rituals of others, even the borderline upper middle class, is rarely a pleasant exhibition to watch.
There's also a nice billiards area and a cigar and cognac room when you want to step it up a notch.
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