A well-known restaurant in Banff has closed after 51 years in business.

Phil's — with its carafes of coffee and all-day breakfast fare — has been a fixture in the mountain resort town west of Calgary for those travelling through the national park since 1962. 

The owners are cleaning up and clearing out after the restaurant officially closed Sunday. The building was purchased by Banff locals and will reopen as an Asian restaurant. 

Melanie Tetrault-Klapecki, who owns Phil's with her siblings, says free breakfasts at Banff hotels were tough for business.

"We have slowly become much more about local Calgarians and local Banffites. Unfortunately, that's just not the kind of numbers that you need for the size and scope of this building," she said.

Marion Christou waited tables at the restaurant for eight years.

"Great atmosphere, always friendly staff and now a lot of people come back just to see us from other places in the world. They used to every time they came to Banff they had to go to Phil's."

Susan Sax-Willock owns a local art gallery and started going to Phil's when she lived in a one room apartment.

"I got to know them quite well there and then that's how we started and just kept on going," she said.

There are five Phil's restaurants in Calgary and the family plans to put the money from the Banff operation into new locations.