That's how my parents handled the five of us, and that's how I'm handling my girls.
They have to tell me where they're going to be, who they're going to be with, and then we agree upon a time together. For example, if they're going to a 7:00 movie at the theater 15 minutes from our house, 9:30 would be a reasonable time to return home. If they're going to eat at Burger King afterward, 10:00 would be good. If they're going to a dance at school and it's supposed to end at 11:30, they need to be home by 11:45. If something happens and they're going to be late, they must call. But we're not consistant; each week is based upon the anticipated activities. If they've been very, very well behaved lately, then I'll let them wheedle an extra half hour out of me; if they've not been on their best behavior, they're not going out at all.
The guy doesn't have to go home -- he's welcome to stay here and hang out in the den -- but my daughters can't just wander around.
We may relax this a bit when they're seniors . . . but right now the oldest is only a sophomore.
I have never bought into the idea of a curfew, not in the sense where it means "Go anywhere you want, do anything you want, but be home by 11:00."