I've been to both the MeltingPot and Colorado Fondue, and I have to say I much prefer Colorado Fondue. The service is better, the atmosphere is much more relaxed (I think The MeltingPot is too stuffy and formal to really enjoy yourself), and the food is delicious. I've been at least a dozen times over the past decade or so, and I've always had a good meal. Don't be afraid to ask for a new hot rock while you're eating your entree. While every course is worth trying, definitely save room for desert. And make reservations!
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