Kingdom Hotel Investments H1 profit falls 61%

Kingdom Hotel Investments said first half net profit fell 61 percent, due to weaker results at Four Seasons in Paris and Cairo, as well as lower real estate sales and an impairment charge.Controlled by Saudi billionaire Prince Alwaleed bin Talal, the company also said revenues fell by almost 11 percent, to $103.3m.

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http://www.arabianbusiness.com/565946-kingdom-hotel-investments-h1-profit-falls-61

Nakheel to Sell Stake in Mirvac for $166 Million

Aug. 26 (Bloomberg) -- Nakheel PJSC, the real-estate developer controlled by Dubai’s government, agreed to sell its stake in Mirvac Group for A$200 million ($166 million).
Deutsche Securities Australia Ltd. will purchase Nakheel’s 172 million shares in Mirvac, an Australian real-estate investment trust, at A$1.1625 a share, according to a regulatory filing to the Australian Stock Exchange today.

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http://www.bloomberg.com/apps/news?pid=20601206&sid=akN9efAT6bNM

Chipotle Releases Ordering App

[2009-08-25] Chipotle Mexican Grill announced that its new ordering application is available on the Apple App Store. The mobile ordering app gives iPhone and iPod Touch users the ability to create their Chipotle order, place it at the Chipotle location of their choice, and also pay for their food from their device.

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http://www.qsrmagazine.com/articles/news/story.phtml?id=9211&utm_source=RSS_Feed&utm_medium=RSS&utm_campaign=RSS_Syndication

China's hotel and catering report 18% growth

According to the Chinese Ministry of Industry and Information Technology, the accommodation and catering industry recorded total retail sales of approximately US$125 billion in the first half of 2009, reflecting an 18% growth when compared to the same period in 2008
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http://www.4hoteliers.com/4hots_nshw.php?mwi=6228

Debt-for-equity swap likely at Admiral

Documents state that Admiral Taverns has been in discussions since last October over debts of £855m with Lloyds Banking Group and £106m of loan finance with a secondary banker.
Lloyds Banking Group is likely to write around £450m worth of debt off in line with Admiral Taverns earnings dropping from around £100m to just over £50m after the recession hit the performance of the company.

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http://www.morningadvertiser.co.uk/news.ma/article/84189

San Francisco Hotel losses mount, hurting city's coffers

On July 8, owners of the stately, 97-year-old Renaissance Stanford Court on Nob Hill defaulted on an $89 million loan. Three weeks later, the glitzy Four Seasons Hotel, built on Market Street in 2001, withheld payment on $90 million it owed.

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http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/08/24/MNBU19ACV5.DTL&type=travel