No terms were announced for the deal, which is expected to close by the end of the year after meeting "regulatory approvals and customary closing conditions," the company said.
It means an earlier plan by Logan's parent company, LRI Holdings, for an initial public offering of stock to raise $200 million won't take place.
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Tuesday, August 31, 2010
Berners hotel in London for sale for £60m
The vacant 193-bedroom Berners hotel in London has been put up for sale, for a price in excess of £60m, after being placed in administration.
Currently closed for refurbishment, the interior is yet to be completed, providing the new owner with the opportunity to customise the final design of the hotel which is situated close to Oxford Street.
Jane Moriarty and James Tucker, of KPMG, were appointed joint administrators of the hotel in August. The property was owned by JJW Hotels & Resorts which also owned the Eton Collection of seven boutique hotels, which was placed into administration earlier this year.
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Currently closed for refurbishment, the interior is yet to be completed, providing the new owner with the opportunity to customise the final design of the hotel which is situated close to Oxford Street.
Jane Moriarty and James Tucker, of KPMG, were appointed joint administrators of the hotel in August. The property was owned by JJW Hotels & Resorts which also owned the Eton Collection of seven boutique hotels, which was placed into administration earlier this year.
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Bad property deals crushed New Zealand rural lender
Poisonous real estate deals brought down South Canterbury Finance. Just like the failed Bridgecorp, Strategic Finance, St Laurence and Hanover, the venom of property's fast-declining fortunes caught SCF offguard and delivered the killer blow.
Bad real estate loans are largely responsible for destroying $6 billion of investors' wealth in the other property financiers - at least until yesterday when South Canterbury lifted the tally to nearly $8 billion.
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Bad real estate loans are largely responsible for destroying $6 billion of investors' wealth in the other property financiers - at least until yesterday when South Canterbury lifted the tally to nearly $8 billion.
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Cancun bar attack is latest bad news for Mexico's tourism industry
At least eight people died after attackers hurled Molotov cocktails into a crowded Cancun bar early today. Although the bar is outside the popular resort zone in a residential area unfrequented by tourists, the apparent drug-related killings are the latest in a string of bad news for Mexico's beleagured tourism industry.Mexican police stand guard in front of the Castle of the Sea bar in Cancun, Mexico on August 31. At least eight people were killed when molotov cocktails were thrown into the bar, which is in a residential area not frequented by tourists.
And on Friday, the U.S. State Department extended its Mexico travel warning to note that children of U.S. government personnel are being ordered to leave the business capital of Monterrey because of concern about recent gun battles and kidnappings in the city.
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And on Friday, the U.S. State Department extended its Mexico travel warning to note that children of U.S. government personnel are being ordered to leave the business capital of Monterrey because of concern about recent gun battles and kidnappings in the city.
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Armed robbery reported at Ft Collins Hilton early Monday
Hotel manager Ned Sickle on Tuesday declined to discuss the specifics of what he called an "incident," but said he and his staff are reviewing safety and security protocols. He said no one was hurt in the incident.
Fort Collins police have not yet released any details about the reported robbery at 425 W. Prospect.
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Fort Collins police have not yet released any details about the reported robbery at 425 W. Prospect.
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Citigroup Gets Burned in the Caribbean
The eye of Hurricane Earl passed by the Caribbean island of Anguilla Tuesday, blowing roofs off buildings and damaging phone and power lines. But for Citigroup Inc., far more damage was done on the tiny British territory by the storm ravaging the real-estate industry.
In 2006, Citigroup originated a big construction loan for a Viceroy resort described by developer Kor Hotel Group as "an exquisite rendition of the residential resort concept" on Anguilla. Four years later, after construction delays and cost overruns, Citigroup is getting out of this corner of the Caribbean at a huge loss.
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In 2006, Citigroup originated a big construction loan for a Viceroy resort described by developer Kor Hotel Group as "an exquisite rendition of the residential resort concept" on Anguilla. Four years later, after construction delays and cost overruns, Citigroup is getting out of this corner of the Caribbean at a huge loss.
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'Zombie' Hotels Arise in Ireland as Recession Empties Rooms
The Glashaus hotel used to be a symbol of the regeneration of one of Dublin’s toughest neighborhoods. Empty and shuttered, it now represents one of the toughest economies Ireland has ever endured.
Developer Liam Carroll opened the boutique hotel in Tallaght in the west of the city three years ago at the height of the country’s decade-long real estate boom. Now, creditors have taken control of much of Carroll’s empire and the Glashaus is closed, as is the nearby 186-room Tallaght Cross Hotel.
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Developer Liam Carroll opened the boutique hotel in Tallaght in the west of the city three years ago at the height of the country’s decade-long real estate boom. Now, creditors have taken control of much of Carroll’s empire and the Glashaus is closed, as is the nearby 186-room Tallaght Cross Hotel.
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The Maui Prince Changes Hands Again
A rollercoaster year for the former Maui Prince Hotel in Hawaii continued this week when one of the property’s mortgage holders took ownership with the intent of operating and further developing it.
AREA Property Partners, the former Apollo Real Estate Advisors, announced this week that it converted its $30 million portion of the hotel’s $192 million mortgage into equity. It will operate the property, now called the Makena Beach and Golf Resort, with new equity partners Trinity Investments LLC and Stanford Carr Development LLC.
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AREA Property Partners, the former Apollo Real Estate Advisors, announced this week that it converted its $30 million portion of the hotel’s $192 million mortgage into equity. It will operate the property, now called the Makena Beach and Golf Resort, with new equity partners Trinity Investments LLC and Stanford Carr Development LLC.
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2-hour walkout at Sheraton Chicago
About 200 workers at the Sheraton Chicago Hotel and Towers walked off the job for two hours this afternoon to protest layoffs and understaffing at the hotel.
According to hotel union Unite Here Local 1, in recent months, workers have filed grievances with hotel management regarding staffing cuts and a growing reliance on subcontracted services.
Tuesday, workers led a delegation to the general manager’s office at the hotel, but said management’s response to their concerns was “inadequate.”
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According to hotel union Unite Here Local 1, in recent months, workers have filed grievances with hotel management regarding staffing cuts and a growing reliance on subcontracted services.
Tuesday, workers led a delegation to the general manager’s office at the hotel, but said management’s response to their concerns was “inadequate.”
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US blacklists 5-star hotel after thefts
The hotel, the Westin Grand, is next to the Cape Town International Convention Centre.
In a message e-mailed to US citizens in South Africa and posted on the US embassy's website, the consulate said US government employees and contractors had been "directed" not to stay at the Westin until further notice.
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In a message e-mailed to US citizens in South Africa and posted on the US embassy's website, the consulate said US government employees and contractors had been "directed" not to stay at the Westin until further notice.
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Monday, August 30, 2010
Us Department fo State - Travel Warning to Mexico
The Department of State has issued this Travel Warning to inform U.S. citizens traveling to and living in Mexico about the security situation in Mexico. The authorized departure of family members of U.S. government personnel from U.S. Consulates in the northern Mexico border cities of Tijuana, Nogales, Ciudad Juarez, Nuevo Laredo, Monterrey and Matamoros remains in place. However, based upon a security review in Monterrey following the August 20, 2010 shooting in front of the American Foundation School in Monterrey and the high incidence of kidnappings in the Monterrey area, U.S. government personnel from the Consulate General in Monterrey have been advised that the immediate, practical and reliable way to reduce the security risks for children of U.S. Government personnel is to remove them from the city. Beginning September 10, 2010, the Consulate General in Monterrey will become a partially unaccompanied post with no minor dependents of U.S. government employees. This Travel Warning supersedes the Travel Warning for Mexico dated July 16, 2010 to note the changing security situation in Monterrey.
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Arabella Starwood Hotels And Resorts now extinct
(eTN) - The hotel brand Arabella Starwood Hotels & Resorts no longer exists, and the long-term management contracts with Starwood were dissolved this week.
In view of changes being made to international financial reporting standards, the executive board of the holding of Schörghuber Corporate has decided to confine its porfolio in the future exclusively to its own hotel properties and no longer conclude management or lease agreements for third-party hotel properties.
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In view of changes being made to international financial reporting standards, the executive board of the holding of Schörghuber Corporate has decided to confine its porfolio in the future exclusively to its own hotel properties and no longer conclude management or lease agreements for third-party hotel properties.
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Wahington Convention center hotel can move forward as lawsuits set aside
The lawsuits that hogtied construction of a convention center hotel in the District have been set aside and the Washington Convention and Sports Authority plans to issue bonds to finance the project in the coming weeks.
The $550 million, 1,167-room Marriott Marquis hotel has long been cited by city officials as a needed boost for the District's convention business, but it was sidelined first by the frozen credit markets and later, in September of last year, by a lawsuit filed in D.C. Superior Court by an entity of JBG arguing that the city had conducted an illegal procurement process in choosing another development team for the project.
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The $550 million, 1,167-room Marriott Marquis hotel has long been cited by city officials as a needed boost for the District's convention business, but it was sidelined first by the frozen credit markets and later, in September of last year, by a lawsuit filed in D.C. Superior Court by an entity of JBG arguing that the city had conducted an illegal procurement process in choosing another development team for the project.
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Sunday, August 29, 2010
The Impact of the Merchant Model on U.S. Hotel Profits
Back in December 2003, Smith Travel Research published a much discussed article titled, “The Billion Dollar Leak - The Impact of The Merchant Model on US Hotel Profits.” In this article the authors attempted to quantify the financial impact of third party sites on US hotel industry room revenues and profits. To describe this loss, they coined the term “leakage,” i.e. revenue "leaked" from the hotel industry to third party sites in the form of abnormally high merchant commissions of 25% and higher.
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Saturday, August 28, 2010
Snowmass Foreclosure Crystallizes Hypo's U.S. Property Woes
Snowmass Village, the Colorado ski town neighboring Aspen, got a lift in 2007 when Hypo Real Estate Holding AG agreed to arrange $520 million of loans to complete a $1 billion year-round resort.
Three years later, construction has halted on parts of the 19-acre Base Village in Snowmass, where some buildings are wrapped in plastic, and Hypo has been seized by the German government. When the lender, whose 2009 implosion was Germany’s biggest bank failure since World War II, tried to foreclose on the developers in July, it was met by a countersuit that accused it of a “shameful repudiation” of its obligations.
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Three years later, construction has halted on parts of the 19-acre Base Village in Snowmass, where some buildings are wrapped in plastic, and Hypo has been seized by the German government. When the lender, whose 2009 implosion was Germany’s biggest bank failure since World War II, tried to foreclose on the developers in July, it was met by a countersuit that accused it of a “shameful repudiation” of its obligations.
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Boca Raton Bridge Hotel faces bankruptcy
A group of creditors who claim the owner of Boca Raton Bridge Hotel has not paid them have filed a petition to put the company into Chapter 11 bankruptcy.
Ten creditors filed the petition on Friday in federal court in Palm Beach County against Boca Bridge LLC.
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Ten creditors filed the petition on Friday in federal court in Palm Beach County against Boca Bridge LLC.
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Hartford's Crowne Plaza In Bankruptcy
Aug. 27--The owners of the Crowne Plaza hotel just north of downtown Hartford have filed for bankruptcy, the latest blow to the city's hospitality industry already hard hit in the recession.
The Chapter 11 bankruptcy case is a debt reorganization, not a liquidation; the 350-room hotel near I-84 remains open for business. The company that manages the hotel, Packard Hospitality Group, would not comment on whether the hotel will continue to operate, although there is no sign that it is closing.
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The Chapter 11 bankruptcy case is a debt reorganization, not a liquidation; the 350-room hotel near I-84 remains open for business. The company that manages the hotel, Packard Hospitality Group, would not comment on whether the hotel will continue to operate, although there is no sign that it is closing.
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U.K. Sausage Week is almost here! !
by: Eric Hertha
The hunt for the UK’s star sausage will once more get underway during this year’s British Sausage Week. Sausage producers, butchers, farm shops and caterers are all in with a chance of taking the title. The official dates are November 1 – 7.
I am sure that you will all remember last years event. A good time was had by all. And this years event, organized by Bpex, will provide a unique platform to celebrate the taste, quality and rich diversity of the great British Sausage.
Organizers said this year’s event was seeking sausages with ‘star quality’ - whether that is a secret recipe, extra ingredient or the quality of pork used. Entrants are simply required to provide the name of their chosen sausage and include a brief description of why it deserves to be ‘Britain’s Star Sausage’. The deadline for entries is Friday 3rd September 2010, after which shortlisted finalists will be chosen. Who knows you could win the British Sausage Week Banger Award. Something that you could cherish for years to come
As you know, hotels in London fill up quickly when the official dates are announced. Packages, as always, are available and don’t forget to dress like a Sausage when you check into your hotel to get added discounts. If your companion looks like mashed potatoes the "sky is the limit" on additional bonus discount coupons. You could even win a chance to get your picture taken with "Miss Banger". Also remember to try a Sausage Martini!
(writers note - although most of this article is true some sarcastic references have been added. )
The hunt for the UK’s star sausage will once more get underway during this year’s British Sausage Week. Sausage producers, butchers, farm shops and caterers are all in with a chance of taking the title. The official dates are November 1 – 7.
I am sure that you will all remember last years event. A good time was had by all. And this years event, organized by Bpex, will provide a unique platform to celebrate the taste, quality and rich diversity of the great British Sausage.
Organizers said this year’s event was seeking sausages with ‘star quality’ - whether that is a secret recipe, extra ingredient or the quality of pork used. Entrants are simply required to provide the name of their chosen sausage and include a brief description of why it deserves to be ‘Britain’s Star Sausage’. The deadline for entries is Friday 3rd September 2010, after which shortlisted finalists will be chosen. Who knows you could win the British Sausage Week Banger Award. Something that you could cherish for years to comeAccording to Organizers “The competition is always hotly contested, drawing hundreds of entries from butchers, manufacturers and retailers and we hope this year will be no different. But the sausages will have to be of stellar quality if they are going to satisfy our strict judges!”
Competition entry forms are available to download from www.porkforbutchers.co.uk or by email sausageenquiries@bpex.org.uk.
(writers note - although most of this article is true some sarcastic references have been added. )
Serving and Learning Blend in New Hotel
“I have worked on some of the most complicated projects I could ever have imagined. This was the year I realized how much I love the hotel business,” Hemphill says with a grin. “It’s the career I always wanted but never knew it.”
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British Virgin Islands London Tourist office struggles to keep going
Christine Mortimer, general manager of the BVI Tourist Board’s United Kingdom Tourist Office, tendered her resignation on Aug. 16, citing a financial situation she said is so bad that her office is barely able to cover its utility bills. According to Ms. Mortimer, who helped establish the office in 1991 and became general manager in 2006, the office stopped receiving communications from the Virgin Islands-based BVITB office three to four months ago and has been operating without a budget for more than a year.
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Nassau (Bahamas) Hotel industry well on it's way to recovery
THE Nassau/Paradise Island resort industry is "60 per cent of the way back" to pre-September 2008 levels on revenue generation and occupancies, the Bahamas Hotel Association's (BHA) president said yesterday, telling Tribune Business he estimated the sector would return to pre-recession numbers by the 2011 second quarter.
Robert Sands, who is also Baha Mar's senior vice-president for external and governmental affairs, told this newspaper that while the Bahamian hotel industry was expecting to continue its year-over-year improvements through the August-November period, albeit at a smaller margin compared to the first seven months of 2010, the sector was "better than half-way back" to 2008 levels in several key indicators.
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Robert Sands, who is also Baha Mar's senior vice-president for external and governmental affairs, told this newspaper that while the Bahamian hotel industry was expecting to continue its year-over-year improvements through the August-November period, albeit at a smaller margin compared to the first seven months of 2010, the sector was "better than half-way back" to 2008 levels in several key indicators.
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Harrah's urges court to approve $12.17m Baha Mar payment
US gaming giant Harrah's Entertainment has filed a motion in the New York State Supreme Court for a September 14 hearing to approve the payment of $12.174 million in legal costs to it by Baha Mar, warning that if the Cable Beach developer opposes this it will seek to also gain the $116,492 it was denied.
James Kearney, an attorney with Latham & Watkins, in an affidavit filed with the New York courts earlier this week, affirmed that Harrah's and its Caesars Bahamas subsidiary were moving to recover the legal costs they had allegedly incurred in defending themselves against breach of contract and other claims made over the two parties' failed $2.6 billion joint venture to redevelop Cable Beach.
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James Kearney, an attorney with Latham & Watkins, in an affidavit filed with the New York courts earlier this week, affirmed that Harrah's and its Caesars Bahamas subsidiary were moving to recover the legal costs they had allegedly incurred in defending themselves against breach of contract and other claims made over the two parties' failed $2.6 billion joint venture to redevelop Cable Beach.
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Disney workers to get $433,000 in back pay. Still can't wear religious scarfs
Walt Disney Parks and Resorts has agreed to pay almost half a million dollars in back pay to employees as a result of violations of the Fair Labor Standards Act, the U.S. Department of Labor announced.
An agency investigation revealed that inventory control clerks in the company's food and beverage department were not paid for work activities that occurred before and after their shifts, labor officials say.
Officials say the investigation also revealed that the clerks worked through meal times and from home without compensation.
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An agency investigation revealed that inventory control clerks in the company's food and beverage department were not paid for work activities that occurred before and after their shifts, labor officials say.
Officials say the investigation also revealed that the clerks worked through meal times and from home without compensation.
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Ramsay Holdings Full-Year Loss Almost Doubles Following Expansion to U.S
The net loss for the 12 months ended Aug. 31, 2009, widened to 8.32 million pounds ($12.9 million) from 4.32 million pounds a year earlier. One-time costs climbed to 5.81 million pounds from 849,510 pounds as the company wrote off the investment in venues in New York, California and Florida. The operating loss narrowed to 2.45 million pounds from 3.47 million pounds.
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W Boston faces foreclosure
Prudential Insurance Co. is pushing to foreclose on the bankrupt W Boston Hotel and Residences, putting more than $10 million in city loan funds at risk if high-end condos at the swanky complex in the Theater District are sold off at bargain-basement prices.
Prudential, which originally sunk $192 million in the W Boston, openly mocked developer Sawyer Enterprises’ plans to rent out 25 of the approximately 100 unsold units within the complex, saying it would merely put wear-and-tear on condos and make them less attractive for future sales because they would be “stigmatized as rental property.”
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Prudential, which originally sunk $192 million in the W Boston, openly mocked developer Sawyer Enterprises’ plans to rent out 25 of the approximately 100 unsold units within the complex, saying it would merely put wear-and-tear on condos and make them less attractive for future sales because they would be “stigmatized as rental property.”
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Pizza Hut (U.K.) makes £12m loss
The UK division of Pizza hut, has made a £12.12m loss.
This loss is down £13.31m on the previous year, with the business last reporting a profit in 2006; with the profit being £6.88m.
A spokesperson commented: “Pizza Hut UK is investing in the business and continues to focus on providing the best-possible experience for customers through store remodels, menu innovation and expansion of its delivery service.”
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This loss is down £13.31m on the previous year, with the business last reporting a profit in 2006; with the profit being £6.88m.
A spokesperson commented: “Pizza Hut UK is investing in the business and continues to focus on providing the best-possible experience for customers through store remodels, menu innovation and expansion of its delivery service.”
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Vegas casino fined for dancing gambler
Las Vegas has a reputation for letting visitors get away with all kinds of "bad" behavior. Activities like gambling and drinking on the street get a free pass in this anything-goes gaming capital. But apparently that permissive Vegas attitude doesn't extend to all behaviors, particularly if you like celebratory dancing when you hit it big at the tables.
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Debt woes hit 3 hotels in north suburbs of Chicago
(Crain's) — A trio of north suburban hotels are mired in loan trouble, including a 237-room Embassy Suites in Deerfield that's being handed back to its lender.
All three hotels — the Embassy Suites, a 161-room Springhill Suites in Lincolnshire and a 115-room Holiday Inn Express in Riverwoods — have missed loan payments and weren't generating enough cash flow last year to cover their debt service, according to loan reports by Bloomberg L.P.
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All three hotels — the Embassy Suites, a 161-room Springhill Suites in Lincolnshire and a 115-room Holiday Inn Express in Riverwoods — have missed loan payments and weren't generating enough cash flow last year to cover their debt service, according to loan reports by Bloomberg L.P.
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Hunter Realty Opens Miami Office in Hotel Play
MIAMI-Atlanta-based hotel investment advisory services firm Hunter Realty has set up shop in Miami. Stephen Taylor, the firm’s newly-minted vice president, will lead the Miami office into opportunities in Florida and the Caribbean.
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Friday, August 27, 2010
Atlantis mega-resort courts NCAA basketball and pro-sports games
Virginia Tech, Mississippi State and two other men's college basketball teams have signed on to play Dec. 18 at the Bahamas' giant Atlantis resort in an arrangement that could give the players a free, warm vacation and Atlantis a shot at capturing more sports-related business.
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Berlin 'cannibal' restaurant calls for diners to donate body parts for menu
The online campaign by Flime in Berlin has called for diners to "donate any part of their body" as well as looking for an "open-minded surgeon".
However, politicians have condemned the restaurant for being a tasteless PR stunt according to Der Spiegel. So far the location of the restaurant, if there is one, has not been disclosed.
"Members" willing to participate in the cannibal "Wari-culture" of the restaurant are asked to fill out a form.
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However, politicians have condemned the restaurant for being a tasteless PR stunt according to Der Spiegel. So far the location of the restaurant, if there is one, has not been disclosed.
"Members" willing to participate in the cannibal "Wari-culture" of the restaurant are asked to fill out a form.
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Thursday, August 26, 2010
Les Halles Brasserie in Coral Gables closes
White “City Beautiful” paper and a Miami-Dade County eviction notice now adorn the glass windows of the French Les Halles Brasserie in Coral Gables.
Amidst a thriving Coral Gables restaurant scene, the popular French restaurant at 2415 Ponce de Leon Blvd. is the first to close this year, said Mari Gallet, executive director of the Business Improvement District of Coral Gables.
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Amidst a thriving Coral Gables restaurant scene, the popular French restaurant at 2415 Ponce de Leon Blvd. is the first to close this year, said Mari Gallet, executive director of the Business Improvement District of Coral Gables.
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Claim Jumper Restaurant Settles Condom-In-My-Soup Lawsuit
Man says to his waiter, What's this condom doing in my soup? Waiter shrugs, The backstroke? But seriously, the punchline is that 51-year-old Philip Hodousek is getting a settlement from Claim Jumper after he claimed to have found a prophylactic in his French onion soup last year in Orange County.
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Worker charged with stealing $100k from W Hotel
A former payroll employee at a luxury downtown hotel has been charged with stealing over $100,000 from the business through a fraudulent check writing scheme, authorities said today.
Vincent Gordon swiped $122,228 from the W Chicago-Lakeshore Hotel in a scam that took place in 2007, between May and December of that year, said Andy Conklin, a spokesman with the Cook County State’s Attorney’s office.
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Vincent Gordon swiped $122,228 from the W Chicago-Lakeshore Hotel in a scam that took place in 2007, between May and December of that year, said Andy Conklin, a spokesman with the Cook County State’s Attorney’s office.
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Hyatt Regency Dearborn to be sold for $12.5 million
The Hyatt Regency Dearborn is under contract to be sold in a $12.5 million deal.
The 772-room hotel in Dearborn has been on the market since Dallas-based real estate investment trust Ashford Hospitality Trust Inc. (NYSE: AHT) defaulted on the $32.5 million loan at the end of 2009.
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The 772-room hotel in Dearborn has been on the market since Dallas-based real estate investment trust Ashford Hospitality Trust Inc. (NYSE: AHT) defaulted on the $32.5 million loan at the end of 2009.
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S.F. Hotel Monaco sold
San Francisco's Hotel Monaco looks to be changing hands.
Several sources have said that Eastdil Secured quietly marketed the property to roughly half a dozen potential buyers, primarily REITs. The winner is said to be LaSalle Hotel Properties, though Kimpton Hotels CEO Mike Depatie wouldn't confirm that a deal was even in the works, and Eastdil didn't return a call seeking comment.
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Several sources have said that Eastdil Secured quietly marketed the property to roughly half a dozen potential buyers, primarily REITs. The winner is said to be LaSalle Hotel Properties, though Kimpton Hotels CEO Mike Depatie wouldn't confirm that a deal was even in the works, and Eastdil didn't return a call seeking comment.
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World’s Costliest Hotel
Marina Bay Sands is an integrated resort fronting Marina Bay in Singapore. Developed by Las Vegas Sands, it is billed as the world's most expensive standalone casino property at S$8 billion (US$5.7 billion), including cost of the prime land. The resort features a 2,560-room hotel, a 120,000-sq mtr convention-exhibition centre, The Shoppes mall, an art & science museum, two Sands Theatres, six ‘celebrity chef’ restaurants, two floating pavilions, a casino with 500 tables and 1,600 slot machines
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Hotels Get Facelifts
In London and Paris, the crème de la crème of luxury hotels are being renovated, refurbished and retrofitted.
The 121-year-old Savoy hotel will reopen in London in October after having undergone a complete overhaul that took almost three years. The Savoy, which is co-owned by Kingdom Holding Co. and Lloyds Banking Group PLC, had never had a systematic renovation and the hotel was "no longer competing at the top level of luxury," says general manager Kiaran MacDonald. He says the $340 million project will also bring more visible changes, such as a new champagne bar and cabaret.
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The 121-year-old Savoy hotel will reopen in London in October after having undergone a complete overhaul that took almost three years. The Savoy, which is co-owned by Kingdom Holding Co. and Lloyds Banking Group PLC, had never had a systematic renovation and the hotel was "no longer competing at the top level of luxury," says general manager Kiaran MacDonald. He says the $340 million project will also bring more visible changes, such as a new champagne bar and cabaret.
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Five people line up for every job at new Denver hotel
Applicants were in high attendance, seeking to fill 260 positions available Wednesday at the Four Seasons Hotel Denver career fair.
About 1,300 job seekers — some living outside Colorado and some fully employed — attended the event. While many applicants said job stability was the major appeal, others said the Four Seasons' reputation alone was the draw.
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About 1,300 job seekers — some living outside Colorado and some fully employed — attended the event. While many applicants said job stability was the major appeal, others said the Four Seasons' reputation alone was the draw.
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Turkish hotels order hundreds of plus-sized beds for basketball stars
The favourites for the title, the USA, are staying at the Four Seasons hotel while most teams including Iran – who will face America in a group match on September 1 – have taken rooms at the Marriott.
Both hotels have reportedly ordered a number of extra long beds to accommodate their guests, with the Marriott ordering in more than 100 beds measuring 7ft.
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Both hotels have reportedly ordered a number of extra long beds to accommodate their guests, with the Marriott ordering in more than 100 beds measuring 7ft.
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Union Properties Agrees to Sell Dubai Ritz-Carlton Hotel at Lowered Price
Union Properties PJSC agreed to sell the Ritz-Carlton hotel development in Dubai for less than the asking price of 1.5 billion dirhams ($410 million), Chairman Khalid bin Kalban said.
Dubai’s third-biggest developer by market value plans to sign the sale agreement in the next ten days, bin Kalban said by phone today. He declined to identify the buyer of the hotel, located within the Dubai International Financial Center, or disclose terms of the deal until the contract is signed.
“Everything has been agreed, all that remains is the drafting of contracts,” bin Kalban said.
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Dubai’s third-biggest developer by market value plans to sign the sale agreement in the next ten days, bin Kalban said by phone today. He declined to identify the buyer of the hotel, located within the Dubai International Financial Center, or disclose terms of the deal until the contract is signed.
“Everything has been agreed, all that remains is the drafting of contracts,” bin Kalban said.
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Wednesday, August 25, 2010
Another Mc Lawsuit
A Sardinian snack bar owner who incurred the legal wrath of McDonald's for daring to use the prefix 'Mc' on his shop front has become an unlikely hero for Italian politicians and food campaigners fed up with the global clout of the American hamburger chain.
Ivan Puddu, 32, decided to give his restaurant in Santa Maria Navarrese a fast-food feel by naming it McPuddu's, only to receive two legal warnings. Lawyers for McDonald's said that customers might confuse his tiny outlet with the US giant.
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Ivan Puddu, 32, decided to give his restaurant in Santa Maria Navarrese a fast-food feel by naming it McPuddu's, only to receive two legal warnings. Lawyers for McDonald's said that customers might confuse his tiny outlet with the US giant.
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Sonics Drive In "sinks" in Georgia
A Sonic fast food joint in Cleveland, Georgia, was eaten by the earth earlier this week after what was believed to have been a sinkhole opened up beneath the restaurant.
Officials are blaming heavy rains, which have dumped several inches on the region and generated flash floods.
"There were people inside the Sonic when the parking lot started giving way," said David Murphy, director of White County Emergency Management. "Everyone got out without injury."
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Officials are blaming heavy rains, which have dumped several inches on the region and generated flash floods.
"There were people inside the Sonic when the parking lot started giving way," said David Murphy, director of White County Emergency Management. "Everyone got out without injury."
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FDA Issues Restaurant Calorie Count Guidelines
Can you stomach the truth about what you're eating? Chain restaurants and vending machines will both be required to display the number of calories in their food, according to draft guidelines released Tuesday by the U.S. Food and Drug Administration. Though smaller businesses can opt in, restaurants with 20 or more locations and vendors with 20 or more machines will have to comply.
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Ex-Sandals resort set to reopen as an independent
The all-inclusive Jewel Beach Resort and Spa, the former Sandals Dunn’s River Villagio, will reopen Sept. 1 in Ocho Rios, Jamaica.
The hotel is owned by Sagicor Life Jamaica and will be managed by Dallas-based Aimbridge Hospitality, which also manages the Embassy Suites San Juan Hotel & Casino and 50 properties across numerous brands in the U.S.
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The hotel is owned by Sagicor Life Jamaica and will be managed by Dallas-based Aimbridge Hospitality, which also manages the Embassy Suites San Juan Hotel & Casino and 50 properties across numerous brands in the U.S.
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Accor to Sell 48 Hotels in Europe for $465 Million
Aug. 23 (Bloomberg) -- Accor SA, Europe’s largest hotelier, said it is selling 48 hotels to units of Credit Agricole SA and Fonciere des Regions SA for 367 million euros ($465 million) as part of a plan to dispose of some real estate holdings.
Accor will continue to run the hotels, the Evry, France- based company said in a statement today. The sale consists of 31 properties in France, 10 in Belgium and seven in Germany, operated under the Novotel, Suite Novotel, Ibis and Etap brands.
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Accor will continue to run the hotels, the Evry, France- based company said in a statement today. The sale consists of 31 properties in France, 10 in Belgium and seven in Germany, operated under the Novotel, Suite Novotel, Ibis and Etap brands.
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Guest walks out on $42K bill at African Fairmont
Like in Kenya’s banking sector, credit card and internet fraud is the hospitality industry’s most guarded secret.
Hoteliers are increasingly losing millions of shillings to sweet-talking, often savvy customers who land on their doorsteps complete with the trappings of wealth and power and live large only to vanish into thin air, leaving behind millions of shillings in unpaid bills.
Nairobi’s oldest and one of the most exclusive hotels, Fairmont Norfolk, has become the latest victim of a bills-skipping scandal planned and executed by a man the hotel’s management described as a “cunning and highly connected person who portends high profile credibility.”
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Hoteliers are increasingly losing millions of shillings to sweet-talking, often savvy customers who land on their doorsteps complete with the trappings of wealth and power and live large only to vanish into thin air, leaving behind millions of shillings in unpaid bills.
Nairobi’s oldest and one of the most exclusive hotels, Fairmont Norfolk, has become the latest victim of a bills-skipping scandal planned and executed by a man the hotel’s management described as a “cunning and highly connected person who portends high profile credibility.”
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Innkeepers Creditors Can Probe Apollo and Lehman Buyout Deal
Innkeepers USA Trust’s creditors won court permission to probe the 2007 transaction in which Apollo Investment Corp. acquired ownership of the bankrupt hotel company, giving it $1 billion in debt.
U.S. Bankruptcy Judge Shelley Chapman in Manhattan court today said the committee can seek documents and witnesses from parties involved in the buyout, including Lehman Brothers Holdings Inc., which was an originator to loans used in the buyout. Creditors also seek to evaluate the validity of secured claims on Innkeeper’s estate which arose from the 2007 transaction.
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U.S. Bankruptcy Judge Shelley Chapman in Manhattan court today said the committee can seek documents and witnesses from parties involved in the buyout, including Lehman Brothers Holdings Inc., which was an originator to loans used in the buyout. Creditors also seek to evaluate the validity of secured claims on Innkeeper’s estate which arose from the 2007 transaction.
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Hotel offers $15 rooms - not including towels and TV
A no-frills hotel that costs as little as £9 a night - but charges for extras including towels and luggage storage - has opened in London.
Using a similar strategy to budget airline Ryanair, Malaysian hotel chain Tune Hotels will charge its customers extra for everything from towels to using the hair dryer and even getting the room cleaned
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Using a similar strategy to budget airline Ryanair, Malaysian hotel chain Tune Hotels will charge its customers extra for everything from towels to using the hair dryer and even getting the room cleaned
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Atlanta's Hotel tax collections up over 09
To date, the city has collected about $20.9 million in the hotel/motel tax, said Gregory Pierce, ACVB executive vice president and chief financial officer. Hotel/motel taxes are a key revenue source for organizations that bring convention and visitor traffic to Atlanta.
The hotel/motel increase should remain strong through the end of the year, especially since hotel occupancy in July climbed above 70 percent for the first time since 2008
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The hotel/motel increase should remain strong through the end of the year, especially since hotel occupancy in July climbed above 70 percent for the first time since 2008
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Hongkong & Shanghai Hotels Posts 31% Profit Rise
HONG KONG—Hongkong and Shanghai Hotels Ltd., the operator of the luxury Peninsula hotel chain, said Wednesday its first-half net profit rose 31% from a year earlier due to property revaluation gains and a nascent recovery in its hotel business.
The Hong Kong-listed company, controlled by businessman Michael Kadoorie and his family, said its net profit for the six months ended June 30 rose to 605 million Hong Kong dollars (US$77.8 million) from HK$462 million.
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The Hong Kong-listed company, controlled by businessman Michael Kadoorie and his family, said its net profit for the six months ended June 30 rose to 605 million Hong Kong dollars (US$77.8 million) from HK$462 million.
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She wasn’t suspended, she was just taken off the schedule
By: Eric Hertha
Hospitality Business News
In the ongoing battle between Disney and Imane Boudlal, a Muslim woman who is fighting for the right to wear her religious scarf, it was revealed today that Ms Boudlal has been taken off the schedule.
The hotel workers union has cried foul and said that Disney has in fact suspended the employee without pay. According to Disney spokeswoman Suzi Brown the suspension claim is not true. According to Disney the employee has not been suspended, she simply is not being scheduled.
We look forward to the verdict.
Hospitality Business News
In the ongoing battle between Disney and Imane Boudlal, a Muslim woman who is fighting for the right to wear her religious scarf, it was revealed today that Ms Boudlal has been taken off the schedule.
The hotel workers union has cried foul and said that Disney has in fact suspended the employee without pay. According to Disney spokeswoman Suzi Brown the suspension claim is not true. According to Disney the employee has not been suspended, she simply is not being scheduled.
We look forward to the verdict.
Dubai World plans to sell Investments in Atlantis and MGM among others
Dubai World plans to sell its prized assets over a period of eight years to generate as much as $19.4-billion (U.S.) to pay off creditors burned by its overambitious expansion, according to a restructuring document obtained by Reuters on Wednesday.
The state-owned conglomerate told creditors at a July 22 meeting, held at Dubai’s lavish Atlantis Hotel, that its capital structure was inappropriate and needed “urgent” restructuring, according to the document handed out at the meeting.
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The state-owned conglomerate told creditors at a July 22 meeting, held at Dubai’s lavish Atlantis Hotel, that its capital structure was inappropriate and needed “urgent” restructuring, according to the document handed out at the meeting.
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Tuesday, August 24, 2010
Why ∏A = gUG + min(k-g, (1-g)(1-r)) equals low airline fares
t is a question that anyone booking a holiday or business trip will have asked themselves countless times: exactly when is the best time to buy an advance plane ticket to fly at the cheapest price?
Leave it too late and prices shoot up, and there is a danger the flight will be fully booked. But book too early and you run the risk that plans may change and you will be out of pocket if you don't travel or have to alter the flight.
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Leave it too late and prices shoot up, and there is a danger the flight will be fully booked. But book too early and you run the risk that plans may change and you will be out of pocket if you don't travel or have to alter the flight.
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Omni bids $67M for Florida resort
Omni Hotels & Resorts has bid $67.1 million to acquire the luxury Amelia Island Plantation resort out of Chapter 11 bankruptcy. The resort is located 29 miles north of Jacksonville, Fla.
Irving-based Omni submitted the highest bid for the Florida-based property on Monday.
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Irving-based Omni submitted the highest bid for the Florida-based property on Monday.
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Burger King Holdings, Inc. Reports Fourth Quarter and Full Fiscal 2010 Results
Fourth quarter fiscal 2010:
Worldwide comparable sales were negative 0.7 percent compared to negative 2.4 percent in the same period last year;
U.S. and Canada comparable sales were negative 1.5 percent compared to negative 4.5 percent in the same period last year;
Solid development growth continued with net restaurant count increasing by 59; and
Diluted earnings per share were $0.36, including $0.01 per share of negative impact from currency translation, compared to diluted earnings per share of $0.43 in the same quarter last year. Last year's diluted earnings per share included a $0.07 tax benefit from the dissolution of dormant foreign entities and this year's diluted earnings per share included a $0.02 tax benefit from the resolution of state tax audits and changes in state tax uncertainties.
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Worldwide comparable sales were negative 0.7 percent compared to negative 2.4 percent in the same period last year;
U.S. and Canada comparable sales were negative 1.5 percent compared to negative 4.5 percent in the same period last year;
Solid development growth continued with net restaurant count increasing by 59; and
Diluted earnings per share were $0.36, including $0.01 per share of negative impact from currency translation, compared to diluted earnings per share of $0.43 in the same quarter last year. Last year's diluted earnings per share included a $0.07 tax benefit from the dissolution of dormant foreign entities and this year's diluted earnings per share included a $0.02 tax benefit from the resolution of state tax audits and changes in state tax uncertainties.
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China hotel profitability slumps further
Gross Operating Profit (GOP) levels of the 5-star hotel sector in China have fallen to the lowest level recorded in the eight years the China Hotel Industry Study has been published.
The GOP level of RMB 91,752 per room (USD 13,375) is 39 percent lower than the peak recorded in 2005 and is the fourth straight year the figure has declined.
In Beijing and Shanghai, the two largest hotel markets in the country, GOP levels in 2009 were RMB 86,194 and RMB 119,645 respectively. The Beijing hotel market in particular suffered dramatically recording an occupancy of only 47.5 percent and an average room rate of RMB 836, which resulted in a RevPAR of only RMB 397.
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The GOP level of RMB 91,752 per room (USD 13,375) is 39 percent lower than the peak recorded in 2005 and is the fourth straight year the figure has declined.
In Beijing and Shanghai, the two largest hotel markets in the country, GOP levels in 2009 were RMB 86,194 and RMB 119,645 respectively. The Beijing hotel market in particular suffered dramatically recording an occupancy of only 47.5 percent and an average room rate of RMB 836, which resulted in a RevPAR of only RMB 397.
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Gomes, Casino Veteran, to Buy Resorts Atlantic City
Dennis Gomes, a gambling industry veteran whose career figured in the Martin Scorsese movie “Casino,” agreed to buy Resorts Atlantic City, New Jersey’s oldest casino resort, from a group of creditors.
The purchase is subject to approval by the New Jersey Casino Control Commission and customary closing conditions, Gomes Gaming Inc. said today in a statement. Terms of the purchase weren’t given.
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The purchase is subject to approval by the New Jersey Casino Control Commission and customary closing conditions, Gomes Gaming Inc. said today in a statement. Terms of the purchase weren’t given.
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4-yr-old boy develops sores after playing with used condom in hotel room
A family in the US is threatening a lawsuit against a hotel in Atlanta after their 4-year-old son developed sores from a used condom that was found in the room they were staying at.
Attorney Thomas Jones revealed that Chase Del'Shawn Jones was staying with his grandmother, Carmen Jones, and other family members at the Wyndham Garden Hotel on Piedmont Avenue NE in Atlanta on July 31.
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Attorney Thomas Jones revealed that Chase Del'Shawn Jones was staying with his grandmother, Carmen Jones, and other family members at the Wyndham Garden Hotel on Piedmont Avenue NE in Atlanta on July 31.
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Somali Gunmen Storm Hotel, 31 Reported Dead
MOGADISHU (Reuters) - Gunmen in army uniforms stormed a hotel in the Somali capital Mogadishu frequented by government officials on Tuesday, killing at least 31 people including legislators, the government said.
Hardline al Shabaab Islamists linked to al Qaeda have been waging an insurgency for three years against the fragile Western-backed government, and control most of Mogadishu. There was no immediate claim of responsibility for the attack.
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Hardline al Shabaab Islamists linked to al Qaeda have been waging an insurgency for three years against the fragile Western-backed government, and control most of Mogadishu. There was no immediate claim of responsibility for the attack.
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Monday, August 23, 2010
UCL to launch boutique hotel chain
Pub and restaurant operator, Urban & Country Leisure (UCL), is to launch a new boutique hotel chain in the UK. The first property, the former Globe Hotel in Warwick, now renamed The Lazy Cow, is expected to open later this year.
UCL has invested £1.5 million in the 16-bedroom site, with each bedroom designed and themed by interior design consultancy Tibbatts Kirk Abel. The hotel is part of an aggressive two-year strategy plan that will see UCL open a further ten small boutique hotels. In addition, the group is planning to expand its pub and restaurant estate by opening another 12 sites in 2011/12.
UCL is owned by entrepreneur Ross Saunders who said: “The Lazy Cow is the first of what we hope to establish as a chain of small, intimate, stylish boutique hotels that have a strong accent on quality accommodation, stylish interiors with exceptional food and drink offerings.
“Our aim is to provide the best possible accommodation offering to the tourist, business and destination weekend break markets.”
UCL has invested £1.5 million in the 16-bedroom site, with each bedroom designed and themed by interior design consultancy Tibbatts Kirk Abel. The hotel is part of an aggressive two-year strategy plan that will see UCL open a further ten small boutique hotels. In addition, the group is planning to expand its pub and restaurant estate by opening another 12 sites in 2011/12.
UCL is owned by entrepreneur Ross Saunders who said: “The Lazy Cow is the first of what we hope to establish as a chain of small, intimate, stylish boutique hotels that have a strong accent on quality accommodation, stylish interiors with exceptional food and drink offerings.
“Our aim is to provide the best possible accommodation offering to the tourist, business and destination weekend break markets.”
Blackstone to back investment in China real estate
HONG KONG (MarketWatch) -- U.S. private equity group Blackstone Group /quotes/comstock/13*!bx/quotes/nls/bx (BX 10.58, +0.40, +3.93%) will back a plan by Hong Kong luxury property developer Great Eagle Holdings /quotes/comstock/22h!e:41 (HK:41 20.45, 0.00, 0.00%) to build more than 1,000 new homes and 400 hotel rooms in the coastal city of Dalian
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Hotelier starts court action against Anglo Irish Bank’s receivership
Businessman Hugh O’Regan has begun legal proceedings against Anglo Irish Bank, which has appointed a receiver over a number of his assets, including the Morrison Hotel.
The hotelier lodged the High Court action against the bank in recent weeks after it obtained a €37.4 million judgment against him. O’Regan is taking the case in his own name, and not through any company.
O’Regan has not yet filed any documents outlining his grievance or the cause of the action.
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The hotelier lodged the High Court action against the bank in recent weeks after it obtained a €37.4 million judgment against him. O’Regan is taking the case in his own name, and not through any company.
O’Regan has not yet filed any documents outlining his grievance or the cause of the action.
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Benihana sales increase 4.2%
by Eric Hertha
August 23, 2010
Benihana Inc., operator of the nation’s largest chain of Japanese theme and sushi restaurants, today reported total restaurant sales and comparable restaurant sales for the first four weeks (July 19 - August 15, 2010) of the second fiscal quarter 2011 compared to the same four-week period for the second fiscal quarter 2010 (July 20 - August 16, 2009). These results demonstrate continued positive momentum resulting from the company’s implementation of its renewal program.
Total restaurant sales increased 4.2% to $25.2 million from $24.2 million, while Company-wide comparable restaurant sales increased 4.3%, representing the 6th consecutive period with comparable restaurant sales increases. By concept, comparable restaurant sales increased 7.3% at Benihana teppanyaki, while the impact of macro-economic weakness caused decreases of 1.2% at RA Sushi and 0.6% at Haru. There were a total of 388 store-operating weeks during the first four weeks of the second fiscal quarter 2011 compared to a total of 393 store-operating weeks during the first four weeks of the second fiscal quarter 2010.
Richard C. Stockinger, Chief Executive Officer and President, said, “We are pleased with the traffic gains (up 9.7%) at Benihana teppanyaki, which drove our sales momentum during the four-week period. Our renewal program continues to result in visits by both new and lapsed guests to our flagship brand. Our Chef’s Table email database, which since its introduction in April 2009 has grown to approximately 1.2 million subscribers, and our Chef’s Special promotions during the period, featuring ‘shrimp and chicken for 2’ for $35 and ‘hibachi steak for 2’ for $37, also proved effective in encouraging guests to enjoy our Benihana teppanyaki restaurants. While renewed softness in the overall economy led to a sequential slowdown at RA Sushi and Haru from the first fiscal quarter, we are encouraged that both brands were off only marginally from year-ago sales levels.”
August 23, 2010
Benihana Inc., operator of the nation’s largest chain of Japanese theme and sushi restaurants, today reported total restaurant sales and comparable restaurant sales for the first four weeks (July 19 - August 15, 2010) of the second fiscal quarter 2011 compared to the same four-week period for the second fiscal quarter 2010 (July 20 - August 16, 2009). These results demonstrate continued positive momentum resulting from the company’s implementation of its renewal program.
Total restaurant sales increased 4.2% to $25.2 million from $24.2 million, while Company-wide comparable restaurant sales increased 4.3%, representing the 6th consecutive period with comparable restaurant sales increases. By concept, comparable restaurant sales increased 7.3% at Benihana teppanyaki, while the impact of macro-economic weakness caused decreases of 1.2% at RA Sushi and 0.6% at Haru. There were a total of 388 store-operating weeks during the first four weeks of the second fiscal quarter 2011 compared to a total of 393 store-operating weeks during the first four weeks of the second fiscal quarter 2010.
Richard C. Stockinger, Chief Executive Officer and President, said, “We are pleased with the traffic gains (up 9.7%) at Benihana teppanyaki, which drove our sales momentum during the four-week period. Our renewal program continues to result in visits by both new and lapsed guests to our flagship brand. Our Chef’s Table email database, which since its introduction in April 2009 has grown to approximately 1.2 million subscribers, and our Chef’s Special promotions during the period, featuring ‘shrimp and chicken for 2’ for $35 and ‘hibachi steak for 2’ for $37, also proved effective in encouraging guests to enjoy our Benihana teppanyaki restaurants. While renewed softness in the overall economy led to a sequential slowdown at RA Sushi and Haru from the first fiscal quarter, we are encouraged that both brands were off only marginally from year-ago sales levels.”
Huddle House, Inc. Announces the Resignation of CEO
By: Eric Hertha
August 23 2010
Huddle House, an Atlanta-based 400-plus-unit family diner chain, has announced the resignation of Chief Executive Officer Phil Greifeld.
Greifeld joined Huddle House in 1995 and spent nearly 12 years leading the Huddle House brand as its CEO. Greifeld stepped down from his role as President and CEO to pursue other opportunities.
Ken Keymer, current Huddle House Board Director and former CEO of VICORP Restaurants, Inc. (parent company of Village Inn and Baker's Square) and former CEO of AFC Enterprises, (parent company of Popeyes' Famous Fried Chicken) will take over as interim CEO.
"We are thankful for Phil Greifeld's commitment to the Huddle House brand throughout his long tenure and we wish him success in his new endeavor," Keymer said.
August 23 2010
Huddle House, an Atlanta-based 400-plus-unit family diner chain, has announced the resignation of Chief Executive Officer Phil Greifeld.
Greifeld joined Huddle House in 1995 and spent nearly 12 years leading the Huddle House brand as its CEO. Greifeld stepped down from his role as President and CEO to pursue other opportunities.
Ken Keymer, current Huddle House Board Director and former CEO of VICORP Restaurants, Inc. (parent company of Village Inn and Baker's Square) and former CEO of AFC Enterprises, (parent company of Popeyes' Famous Fried Chicken) will take over as interim CEO.
"We are thankful for Phil Greifeld's commitment to the Huddle House brand throughout his long tenure and we wish him success in his new endeavor," Keymer said.
Hotel thief caught red-handed on CCTV escapes trial due to 'lack of evidence'
A hooded man filmed trying to burgle a hotel and then caught red-handed by police at the scene has escaped prosecution - because of a lack of evidence.
The 26-year-old was one of two men caught on CCTV trying to break into a closed bar area after walking into the hotel.
They were also filmed sneaking into an empty bedroom where they ripped a 32-inch LCD TV from the wall and wrapped it in a bed sheet.
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The 26-year-old was one of two men caught on CCTV trying to break into a closed bar area after walking into the hotel.
They were also filmed sneaking into an empty bedroom where they ripped a 32-inch LCD TV from the wall and wrapped it in a bed sheet.
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Atlanta ATM thieves drop cash machine outside hotel
Atlanta police spokesman Otis Redmond told the AJC that officers responded to a 3:40 a.m. call about several men trying to remove the ATM from the lobby of the Biltmore Hotel building on West Peachtree Street.
"Upon arriving at the scene, police observed the ATM lying outside of the location," Redmond said. "Witnesses advised police that the males couldn't load the machine onto the truck they had backed up to the location."
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"Upon arriving at the scene, police observed the ATM lying outside of the location," Redmond said. "Witnesses advised police that the males couldn't load the machine onto the truck they had backed up to the location."
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Sunday, August 22, 2010
World Has ended - Burger King introduces Pizza Burger - In other news Americans get fatter!
Early next month Burger King will be introducing the Pizza Burger at its flagship location the Whopper Bar in NYC. This delectable "morsel" will weigh in with a whopping 2,520 calories under its belt and loaded with nearly 2 pounds of beef (4 whoppers), pepperoni, mozzarella, marinara sauce and will be served on a 9 1/2 inch sesame seed bun.
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Bethesda firm Host chasing high-end hotels
Bethesda's Host Hotels & Resorts plans to raise $400 million by selling stock, giving the company even more ability to continue its recent run of acquisitions and join other hotel chains that are taking advantage of an industry full of buying opportunities.
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Disneyland Paris falls well short
There's a huge boot print embedded in the tarmac, a balsa wood aeroplane of lifelike proportions sitting beside it and, up ahead, a giant U-shaped piece of Hot Wheels track which brings back fond memories of childhood.
It sounds like a scene from Gulliver's Travels but the screams from riders hurtling up and down the track in a roller-coaster car give the game away. This is, in fact, a theme park ride based on the hit Toy Story movies and it is one of three new attractions which opened last week at the Disneyland resort on the outskirts of Paris.
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It sounds like a scene from Gulliver's Travels but the screams from riders hurtling up and down the track in a roller-coaster car give the game away. This is, in fact, a theme park ride based on the hit Toy Story movies and it is one of three new attractions which opened last week at the Disneyland resort on the outskirts of Paris.
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International credit card fraud syndicate busted
KUALA LUMPUR: City police have smashed an International credit card fraud syndicate with the arrest of three suspects on Monday.
In the bust, police also seized credit cards with a load value of RM23 million and several items believed to be used to produce the fake cards.
The success came after the Brickfields commercial crime police department received a report from a hotel following a fake credit card transaction on July 13.
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In the bust, police also seized credit cards with a load value of RM23 million and several items believed to be used to produce the fake cards.
The success came after the Brickfields commercial crime police department received a report from a hotel following a fake credit card transaction on July 13.
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One of South Africa's top chefs fills Ramsays shoes at One&Only
Riffel - who has gone from eating pig's head as a youngster to feeding well-heeled patrons his signature ginger and caramel pork belly - will replace famed UK chef Gordon Ramsay at Kerzner's One&Only hotel in Cape Town.
Ramsay's Maze restaurant was expelled from the premises following rumours of crisis talks earlier this month.
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Ramsay's Maze restaurant was expelled from the premises following rumours of crisis talks earlier this month.
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Chopotle Grill loses ADA suit
The revolution in tort liability has claimed another victim. Chipotle Mexican Grill Inc. is now traveling lighter by around $140,000, thanks to a decision a few weeks ago by a three-judge panel on the 9th U.S. Circuit Court of Appeals. That might not seem a king’s ransom. But the ruling could have major consequences for the way businesses in this country operate.
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Las Vegas Sands to pay down debt
Las Vegas Sands Corp. plans to pay off more than $1 billion in outstanding debt while extending the maturity of about 75 percent of its loans by at another three years.
The move, announced Wednesday in a filing with the Securities and Exchange Commission, gives Las Vegas Sands some financial breathing room as the company moves to restart stalled casino projects in Macau and explore other gaming opportunities
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The move, announced Wednesday in a filing with the Securities and Exchange Commission, gives Las Vegas Sands some financial breathing room as the company moves to restart stalled casino projects in Macau and explore other gaming opportunities
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Hotel guests evacuated during electrical fire
A small electrical fire in Boston’s InterContinental hotel early yesterday morning resulted in guests being evacuated for hours and threatened to postpone a wedding.
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Gunmen fighting Rio police invade luxury hotel
RIO DE JANEIRO — Heavily armed drug gang members engaged in an intense firefight with police, then fled into a luxury hotel popular with foreign tourists and held about 30 people hostage for three hours Saturday before surrendering.
The upscale, beachside neighborhood of Sao Conrado where the Intercontinental Hotel sits was transformed into a war zone as upward of 50 gunmen with high-caliber rifles, pistols and even hand grenades faced off with police.
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The upscale, beachside neighborhood of Sao Conrado where the Intercontinental Hotel sits was transformed into a war zone as upward of 50 gunmen with high-caliber rifles, pistols and even hand grenades faced off with police.
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Saturday, August 21, 2010
Quebec Government mandates new sales recording system to fight tax evasion
MONTREAL - Steven Raymond says it's a good time to be in the business of selling cash registers and point of sales terminals to restaurants.
That's because about half of Quebec's estimated 20,000 restaurants will be required to upgrade their equipment in the next 14 months to conform to new rules to fight tax evasion in the industry.
"We don't know how many new customers we're going to get," said Raymond, the sales manager for POS Terminal 2000, based in Rivière des Prairies. "It will depend on our capacity to install everybody. There is going to be a big bottleneck at some point for the whole industry."
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That's because about half of Quebec's estimated 20,000 restaurants will be required to upgrade their equipment in the next 14 months to conform to new rules to fight tax evasion in the industry.
"We don't know how many new customers we're going to get," said Raymond, the sales manager for POS Terminal 2000, based in Rivière des Prairies. "It will depend on our capacity to install everybody. There is going to be a big bottleneck at some point for the whole industry."
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Delta's La Guardia food court goes upscale
Delta Air Lines can't promise that you'll never get stuck at La Guardia Airport again, but they can promise you'll never go hungry.
The airline is revamping the domestic airports' food options, opening up 13 new eateries over the next year – and we're not talking boxed lunches.
Travelers will get their first taste of the nouveau airport cuisine this weekend, when four of the kitchens open their temporary pop-up restaurants Saturday.
“Delta has a large emphasis on the business traveler, so we're offering a refined, contemporary dining experience,” said Rick Blatstein, chief executive of OTG Management, the airport restaurateur hired by Delta to develop and run the new dining operation at LaGuardia. “We want customers to feel like they're sitting in any Manhattan restaurant.”
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The airline is revamping the domestic airports' food options, opening up 13 new eateries over the next year – and we're not talking boxed lunches.
Travelers will get their first taste of the nouveau airport cuisine this weekend, when four of the kitchens open their temporary pop-up restaurants Saturday.
“Delta has a large emphasis on the business traveler, so we're offering a refined, contemporary dining experience,” said Rick Blatstein, chief executive of OTG Management, the airport restaurateur hired by Delta to develop and run the new dining operation at LaGuardia. “We want customers to feel like they're sitting in any Manhattan restaurant.”
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Max & Erma's gets new owner
Many observers and franchisees believed all Max & Erma’s needed was an experienced restaurant hand to guide it through what have become choppy industry waters in recent years.
It may be getting just that. The Columbus company’s new owner includes a high-profile restaurant executive and investor and an industry management veteran who already has restructured and led several dining chains out of their financial troubles.
Denver-based American Blue Ribbon Holdings LLC, owner of the Village Inn and Bakers Square regional restaurant businesses, has been approved by a judge in U.S. Bankruptcy Court in Pittsburgh to buy Max & Erma’s Restaurants Inc. for $28 million. The deal is expected to close Aug. 31.
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It may be getting just that. The Columbus company’s new owner includes a high-profile restaurant executive and investor and an industry management veteran who already has restructured and led several dining chains out of their financial troubles.
Denver-based American Blue Ribbon Holdings LLC, owner of the Village Inn and Bakers Square regional restaurant businesses, has been approved by a judge in U.S. Bankruptcy Court in Pittsburgh to buy Max & Erma’s Restaurants Inc. for $28 million. The deal is expected to close Aug. 31.
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Colony Capital said to be eyeing Hawaii again
Colony Capital LLC, a Los Angeles-based investment firm whose Hawaii portfolio once included the Hyatt Regency Waikoloa and Orchid at Mauna Lani on the Big Island, is again considering investing in Hawaii real estate.
Tom Barrack, Colony Capital chairman and CEO, was in Hawaii this week to meet with bankers and property managers to review market opportunities, a source said. Barrack was scheduled to be on Kauai and Oahu to discuss potential investments that include hotels, retail and office buildings, and banks, the source said.
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Tom Barrack, Colony Capital chairman and CEO, was in Hawaii this week to meet with bankers and property managers to review market opportunities, a source said. Barrack was scheduled to be on Kauai and Oahu to discuss potential investments that include hotels, retail and office buildings, and banks, the source said.
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STR: US hotel pipeline for July 2010
HENDERSONVILLE, Tennessee—The total active U.S. hotel development pipeline comprises 3,412 projects totaling 359,264 rooms, according to the July 2010 STR/TWR/Dodge Construction Pipeline Report released this week. This represents a 26.4-percent decrease in the number of rooms in the total active pipeline compared to July 2009. The total active pipeline data includes projects in the In Construction, Final Planning and Planning stages, but does not include projects in the Pre-Planning stage.
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STR: Caribbean/Mexico pipeline for July 2010
HENDERSONVILLE, Tennessee—The Caribbean/Mexico hotel development pipeline comprises 137 hotels totaling 17,208 rooms, according to the July 2010 STR/TWR/Dodge Construction Pipeline Report released this week.
Among the countries of the region, Mexico reported the largest number of rooms in the total active pipeline with 10,819 rooms, with nearly 50 percent of its rooms in the In Construction phase (5,121 rooms). The Dominican Republic (1,929 rooms) and Puerto Rico (1,210 rooms) also reported more than 1,000 rooms in the total active pipeline.
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Among the countries of the region, Mexico reported the largest number of rooms in the total active pipeline with 10,819 rooms, with nearly 50 percent of its rooms in the In Construction phase (5,121 rooms). The Dominican Republic (1,929 rooms) and Puerto Rico (1,210 rooms) also reported more than 1,000 rooms in the total active pipeline.
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STR Global: Central/S. America pipeline July 2010
HENDERSONVILLE, Tennessee—The Central/South America hotel development pipeline comprises 133 hotels totalling 20,770 rooms, according to the July 2010 STR Global Construction Pipeline Report released this week.
Among the countries in the region, Brazil reported the largest amount of rooms in the total active pipeline with 7,042 rooms, followed by Panama with 5,400 rooms. Two other countries ended the month with more than 1,500 rooms in the total active pipeline: Argentina (1,700 rooms) and Colo`mbia (1,509 rooms).
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Among the countries in the region, Brazil reported the largest amount of rooms in the total active pipeline with 7,042 rooms, followed by Panama with 5,400 rooms. Two other countries ended the month with more than 1,500 rooms in the total active pipeline: Argentina (1,700 rooms) and Colo`mbia (1,509 rooms).
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STR Global: Middle East/Africa pipeline for July 2010
LONDON—The Middle East/Africa hotel development pipeline comprises 455 hotels totalling 126,273 rooms, according to the July 2010 STR Global Construction Pipeline Report released this week.
The United Arab Emirates reported the largest number of rooms in the total active pipeline (55,165 rooms), among the countries in the region, with more than half in the In Construction phase (299,751 rooms). Saudi Arabia followed with 17,283 rooms in the total active pipeline and 8,714 rooms in the In Construction phase.
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The United Arab Emirates reported the largest number of rooms in the total active pipeline (55,165 rooms), among the countries in the region, with more than half in the In Construction phase (299,751 rooms). Saudi Arabia followed with 17,283 rooms in the total active pipeline and 8,714 rooms in the In Construction phase.
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STR Global: Europe pipeline for July 2010
LONDON—The Europe hotel development pipeline comprises 678 hotels totalling 118,126 rooms, according to the June 2010 STR Global Construction Pipeline Report released this week. The region reported 314 projects in the In Construction phase with 58,577 rooms.
Among the countries of the region, the United Kingdom ended the month with the largest number of rooms in the total active pipeline with 26,653 rooms, followed by Germany (16,825 rooms) and Russia (16,067 rooms). The U.K. also reported the largest number of rooms in the In Construction phase with 11,381 rooms.
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Among the countries of the region, the United Kingdom ended the month with the largest number of rooms in the total active pipeline with 26,653 rooms, followed by Germany (16,825 rooms) and Russia (16,067 rooms). The U.K. also reported the largest number of rooms in the In Construction phase with 11,381 rooms.
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STR Global: Asia/Pacific pipeline for July 2010
LONDON—The Asia/Pacific hotel development pipeline comprises 1,029 hotels totalling 256,060 rooms, according to the July 2010 STR Global Construction Pipeline Report released this week.
China reported the largest number of rooms in the total active pipeline (139,193 rooms) and in the In Construction phase (98,515 rooms). India followed with 46,562 rooms in the total active pipeline and 29,819 rooms in the In Construction phase.
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China reported the largest number of rooms in the total active pipeline (139,193 rooms) and in the In Construction phase (98,515 rooms). India followed with 46,562 rooms in the total active pipeline and 29,819 rooms in the In Construction phase.
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STR: Luxury leads ADR, RevPAR monthly results
HENDERSONVILLE, Tennessee—The luxury segment reported the largest average-daily-rate and revenue-per-available-room increases among the chain-scale segment for July 2010, according to data from STR.
The segment’s ADR increased 6.6% to US$234.48 and its RevPAR jumped 14.5% to US$169.07.
The economy segment posted the largest occupancy increase, rising 7.6% to 62.3%, followed by the luxury and midscale-without-food-and-beverage segments, each with 7.4% increases to 72.1% and 69.3%, respectively.
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The segment’s ADR increased 6.6% to US$234.48 and its RevPAR jumped 14.5% to US$169.07.
The economy segment posted the largest occupancy increase, rising 7.6% to 62.3%, followed by the luxury and midscale-without-food-and-beverage segments, each with 7.4% increases to 72.1% and 69.3%, respectively.
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STR reports US Occupancy for July
HENDERSONVILLE, Tennessee—The U.S. hotel industry posted increases in all three key performance measurements during July 2010, according to data from STR.
In year-over-year measurements, the industry’s occupancy was up 7.0 percent to 67.9 percent. Average daily rate ended the month with a 1.3-percent increase to US$99.14. Revenue per available room for the month rose 8.5 percent to finish at US$67.35.
Among the Top 25 Markets, all but one market reported occupancy increases and 8 top markets reported double-digit increases. Detroit, Michigan, led the occupancy increases, rising 20.9 percent to 61.5 percent, followed by Oahu Island, Hawaii (+15.9 percent to 89.6 percent), and New Orleans, Louisiana (+13.1 percent to 72.6 percent). Phoenix, Arizona, posted the only occupancy decrease, falling 1.4 percent to 43.6 percent.
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In year-over-year measurements, the industry’s occupancy was up 7.0 percent to 67.9 percent. Average daily rate ended the month with a 1.3-percent increase to US$99.14. Revenue per available room for the month rose 8.5 percent to finish at US$67.35.
Among the Top 25 Markets, all but one market reported occupancy increases and 8 top markets reported double-digit increases. Detroit, Michigan, led the occupancy increases, rising 20.9 percent to 61.5 percent, followed by Oahu Island, Hawaii (+15.9 percent to 89.6 percent), and New Orleans, Louisiana (+13.1 percent to 72.6 percent). Phoenix, Arizona, posted the only occupancy decrease, falling 1.4 percent to 43.6 percent.
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"Summer Of Terror" For Hotels and Restaurants
By: Eric Hertha
Hospitality Business News - Bahamas Desk
August 21, 2010
While looking for stories over the past few months one thing that has jumped out at me is the number of reported robberies, both at hotels and at restaurants. In one recent incident a Florida thief (of course) called back to the restaurant to complain that they did not have enough money when he robbed them and that there better be more the next time. In another outlandish event, thieves stole an ATM out of a Hotel Lobby (http://www.hospitalitybusinessnews.com/2010/04/thieves-wheel-atm-out-of-hotel-lobby.html ) back in April. A search for hotel and restaurant robberies brings up more than 250 stories.
I think an article that sums up the outbreak is one from Joscelyn Moes at 69 News in Pennsylvania http://www.wfmz.com/lehighvalleynews/24700404/detail.html , at least 6 hotels have been robbed in the past three months. According to the Lehigh Valley Planning Commission the estimated population of the area in 2010 is 644,000. Not a huge place.
The latest hold-up happened early Friday at the Homewood Suites in Hanover Township, Lehigh County. Population – under 2,000 residents.
According to the article by Moes, since the end of May or early June, police said that there have been numerous hotel robberies around the Lehigh Valley, including two at the Best Western on Tilghman Street, two at the Holiday Inn Express across from Dorney Park, one at the Holiday Inn in downtown Allentown, and one at the Econo Lodge in Allentown.
Hospitality Business News - Bahamas Desk
August 21, 2010
While looking for stories over the past few months one thing that has jumped out at me is the number of reported robberies, both at hotels and at restaurants. In one recent incident a Florida thief (of course) called back to the restaurant to complain that they did not have enough money when he robbed them and that there better be more the next time. In another outlandish event, thieves stole an ATM out of a Hotel Lobby (http://www.hospitalitybusinessnews.com/2010/04/thieves-wheel-atm-out-of-hotel-lobby.html ) back in April. A search for hotel and restaurant robberies brings up more than 250 stories.
I think an article that sums up the outbreak is one from Joscelyn Moes at 69 News in Pennsylvania http://www.wfmz.com/lehighvalleynews/24700404/detail.html , at least 6 hotels have been robbed in the past three months. According to the Lehigh Valley Planning Commission the estimated population of the area in 2010 is 644,000. Not a huge place.
The latest hold-up happened early Friday at the Homewood Suites in Hanover Township, Lehigh County. Population – under 2,000 residents.
According to the article by Moes, since the end of May or early June, police said that there have been numerous hotel robberies around the Lehigh Valley, including two at the Best Western on Tilghman Street, two at the Holiday Inn Express across from Dorney Park, one at the Holiday Inn in downtown Allentown, and one at the Econo Lodge in Allentown.
A moratorium on ‘boutique’ hotels
Attention dictionary publishers of the world. We need to have a frank and honest discussion about the word “hotel.” I believe it has become, as you would put it, archaic. No one says it any more – at least not without putting the word “boutique” in front of it first.
Fifty years ago, it was acceptable to say, “Hey, I’m going to that swell new hotel on King.” Not now. Today, the declaration might be rendered thusly: “Hey, after I get my chest waxed I’m going to the rooftop lounge of that hot new boutique hotel on King to drink purple-basil gimlets.” The plain old non-boutique “hotel” is fusty, a relic of our linguistic past, like “aroint” (which means “begone!”) and “soothfast” (“truthful”).
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Fifty years ago, it was acceptable to say, “Hey, I’m going to that swell new hotel on King.” Not now. Today, the declaration might be rendered thusly: “Hey, after I get my chest waxed I’m going to the rooftop lounge of that hot new boutique hotel on King to drink purple-basil gimlets.” The plain old non-boutique “hotel” is fusty, a relic of our linguistic past, like “aroint” (which means “begone!”) and “soothfast” (“truthful”).
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Swimsuit Vending Machine at The Standard Hotel in SoBe
Vending machines are supposed to have mostly sugary sodas, some salty snacks, an occasional toothbrush and maybe emergency birth control.
But swimsuits?
Andre Balazs Properties – notably The Standard Hotel in South Beach – has teamed up with activewear-maker Quicksilver for a poolside vending machine that dispenses poolside paraphernalia including swimwear, sunglasses and sunblock.
“We launched over Swim Week,” said Lucy McIntyre, brand director for Balazs Properties. “It was so much fun. People love the shorts. It’s very much the vending machine that get’s people excited.”
Yeah, but where’s the changing room?
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But swimsuits?
Andre Balazs Properties – notably The Standard Hotel in South Beach – has teamed up with activewear-maker Quicksilver for a poolside vending machine that dispenses poolside paraphernalia including swimwear, sunglasses and sunblock.
“We launched over Swim Week,” said Lucy McIntyre, brand director for Balazs Properties. “It was so much fun. People love the shorts. It’s very much the vending machine that get’s people excited.”
Yeah, but where’s the changing room?
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3 well-known Minnesota buildings in default
The owners of the Hotel Sofitel, the Minnesota Center and One Financial Plaza -- three well-known buildings in the Twin Cities -- are trying to restructure $88 million of outstanding debt after defaulting on loans.
The defaults are among the largest in the Twin Cities involving securitized commercial property debt, and such behind-the-scenes bargaining over past-due loans has become a hallmark of the commercial real estate crisis. Hotels have taken a clobbering, but there's plenty of distress to go around.
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The defaults are among the largest in the Twin Cities involving securitized commercial property debt, and such behind-the-scenes bargaining over past-due loans has become a hallmark of the commercial real estate crisis. Hotels have taken a clobbering, but there's plenty of distress to go around.
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Host Hotels Plans To Sell $400 Million In Stock
Host Hotels & Resorts Inc. (HST) plans to sell up to $400 million of stock to raise funds for potential acquisitions and other purposes.
The lodging real-estate investment trust has an agreement with Bank of New York Mellon Corp. (BK) under which it will issue and sell the shares from time to time, according to its filing with the Securities and Exchange Commission. Host's market value is about $9.3 billion.
The two parties recently completed a similar stock-sale effort that was announced a year ago.
Host owns 111 properties world-wide and hires operating companies such as Marriott or Hilton Worldwide to manage them. A number of lodging REITs have been raising capital for potential acquisitions, as they believe market conditions will allow them to acquire high-quality properties at cyclically low prices.
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The lodging real-estate investment trust has an agreement with Bank of New York Mellon Corp. (BK) under which it will issue and sell the shares from time to time, according to its filing with the Securities and Exchange Commission. Host's market value is about $9.3 billion.
The two parties recently completed a similar stock-sale effort that was announced a year ago.
Host owns 111 properties world-wide and hires operating companies such as Marriott or Hilton Worldwide to manage them. A number of lodging REITs have been raising capital for potential acquisitions, as they believe market conditions will allow them to acquire high-quality properties at cyclically low prices.
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Florida Inmate scams Hotel Guests out of Credit Card information
By: Eric Hertha
Hospitality Business News – Bahamas Desk
August 21, 2010
Florida Department of Law Enforcement and the Florida Department of Corrections announced Friday the arrest of five Orlando residents on charges of fraud. Those arrested include Daimion Goldsmith, 40, Kendra Hodge, 22, Lavonda Goldsmith, 45, Geneva Legrier, 18, and Levell Jones, 64. One additional suspect, Edison Filer, 48, is currently at large.
Damion Goldsmith who was previously convicted of credit card fraud, fraud and grand theft is an inmate at the Suwannee Correctional Institution in Live Oak Florida. According to arrest documents Goldsmith had friends help him call hotels and ask room-service employees for the numbers of rooms they had just delivered to. When speaking to room service employees he claimed to be a hotel employee from security and the room service workers would routinely supply the guest room information.
Once Goldsmith obtained the guest room number he or one of his accomplices would contact the guest and pretend to be a hotel employee. They would claim that the computer system was down and that they needed the guest’s credit card information. Although many guests did not supply the information the FDLE has identified eight victims who agents said lost more than $10,000.
Orlando hotel guests were not the only ones targeted. Tourists in Alabama, North Carolina and other states also were victimized in incidents going back to August 2009, the FDLE said.
Prior to this incident Goldsmith was scheduled to be released in April 2015. Not that his incarceration makes Florida, or any other state, safer.
Hospitality Business News – Bahamas Desk
August 21, 2010
Florida Department of Law Enforcement and the Florida Department of Corrections announced Friday the arrest of five Orlando residents on charges of fraud. Those arrested include Daimion Goldsmith, 40, Kendra Hodge, 22, Lavonda Goldsmith, 45, Geneva Legrier, 18, and Levell Jones, 64. One additional suspect, Edison Filer, 48, is currently at large.
Damion Goldsmith who was previously convicted of credit card fraud, fraud and grand theft is an inmate at the Suwannee Correctional Institution in Live Oak Florida. According to arrest documents Goldsmith had friends help him call hotels and ask room-service employees for the numbers of rooms they had just delivered to. When speaking to room service employees he claimed to be a hotel employee from security and the room service workers would routinely supply the guest room information.
Once Goldsmith obtained the guest room number he or one of his accomplices would contact the guest and pretend to be a hotel employee. They would claim that the computer system was down and that they needed the guest’s credit card information. Although many guests did not supply the information the FDLE has identified eight victims who agents said lost more than $10,000.
Orlando hotel guests were not the only ones targeted. Tourists in Alabama, North Carolina and other states also were victimized in incidents going back to August 2009, the FDLE said.
Prior to this incident Goldsmith was scheduled to be released in April 2015. Not that his incarceration makes Florida, or any other state, safer.
150 Irish hotels under threat after bank closure
The Irish Hotel Federation has claimed 150 hotels are under threat after the announcement that Bank of Scotland Ireland is to close.
The bank provides 20% of all loans to the hotel sector in the Irish Republic.
Irish Hotel Federation President Paul Gallagher wants an Irish government "guarantee" scheme for the sector.
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The bank provides 20% of all loans to the hotel sector in the Irish Republic.
Irish Hotel Federation President Paul Gallagher wants an Irish government "guarantee" scheme for the sector.
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Friday, August 20, 2010
Hilton workers OK strike at 4 Chicago hotels
Hilton Hotels workers in Chicago voted Thursday night to authorize a strike at the Chicago Hilton, Hilton O’Hare, the Palmer House Hilton and the Drake, according to Unite Here Local 1 and Local 450.
The union said 96 percent of its members voted in favor of a strike, which authorizes the bargaining committee to call a strike, if necessary. They are the third group of hotel workers in nine months to hold such a vote in the wake of unsettled contract negotiations between Chicago hotels and the union.
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The union said 96 percent of its members voted in favor of a strike, which authorizes the bargaining committee to call a strike, if necessary. They are the third group of hotel workers in nine months to hold such a vote in the wake of unsettled contract negotiations between Chicago hotels and the union.
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Analysts give M&B pub sale the thumbs up
The move by Mitchells & Butlers (M&B) to sell 333 drink-led pubs and late night venues to private equity firm TDR Capital has received the thumbs up from City analysts.
The O'Neills and Harvester owner this morning announced the sale of the "non-core" pubs for £373m to a newly-formed pub and leisure group created by TDR, called Stonegate Pub Company.
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The O'Neills and Harvester owner this morning announced the sale of the "non-core" pubs for £373m to a newly-formed pub and leisure group created by TDR, called Stonegate Pub Company.
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Thursday, August 19, 2010
Radisson’s stance against ancillary fees
Whether one calls it unbundling, or ancillary fees, the practice of retailing marked-up amenities or charging for items or services that used to be included is a hot debate within the industry. Radisson's new empathetic brand promise goes the other way, with lots of extras included.
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Lake George Comfort Suites files for Banruptcy protection
The Comfort Suites in Lake George, New York, filed for bankruptcy protection on Thursday.
The 98-room hotel, on State Route 9, will remain open and operating while it reorganizes finances during bankruptcy.
The hotel reported $13.4 million in assets and $11.2 million of debt.
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The 98-room hotel, on State Route 9, will remain open and operating while it reorganizes finances during bankruptcy.
The hotel reported $13.4 million in assets and $11.2 million of debt.
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How to Gripe Effectively While You're Traveling
Anyone who travels knows something always goes wrong, and it usually happens in a sequence of bad events. I once counted about 47 different points of abuse awaiting travelers from the moment they buy their ticket until they return home. And I've always said that we define a successful journey by how much we minimize the abuse.
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And you thought it only happend in China, Philadelphia Police Bust Alleged Airport Hotel Prostitutes
Philly Police used ads posted online to bust an alleged prostitution ring that operated out of hotels near the Philadelphia International Airport.
Six women along with three male drivers were arrested during the sting, police said.
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Six women along with three male drivers were arrested during the sting, police said.
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Truth & Salvage Company Singer Files Suit Against Marriott Hotel Corporation
Tim Jones, one of the four singers/songwriters of the musical group Truth & Salvage Company, has filed a lawsuit against the Marriott Hotel Corporation. Why? He was shaken awake and ripped from his bed by hotel security and local police while sleeping at the Marriott Hotel in Visalia, California. Jones, a Marriott Rewards member and a registered guest staying the night at the Visalia Marriott in February 2010, was handcuffed, assaulted, taken to jail and cited for trespassing and resisting arrest in his own hotel room
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Omni to build Music City Center hotel
Texas-based Omni Hotels has beaten out Marriott International and will develop a headquarters hotel for the Music City Center convention hall under construction downtown. The project is expected to be 750 to 1,000 rooms and could cost up to $300 million.
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FelCor Completes Acquisition of the Fairmont Boston Copley Plaza Hotel
IRVING, Texas, Aug 19, 2010 (BUSINESS WIRE) -- FelCor Lodging Trust Incorporated /quotes/comstock/13*!fch/quotes/nls/fch (FCH 4.59, -0.24, -4.97%) today completed the previously announced purchase of the Fairmont Copley Plaza hotel in Boston for $98.5 million. The purchase was funded with cash on hand.
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Historic Hotel Operator Furious at Sheraton
ST. LOUIS (CN) - Sheraton Operating Corp. grossly mismanaged an historic downtown hotel, costing a development company $16 million, Breckenridge Edison Development claims in City Court.
Breckenridge Edison claims that Sheraton loaned Donald Breckenridge several million dollars in the late 1990s to convert the historic Edison Brothers Warehouse into the Sheraton Hotel & Suites.
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Breckenridge Edison claims that Sheraton loaned Donald Breckenridge several million dollars in the late 1990s to convert the historic Edison Brothers Warehouse into the Sheraton Hotel & Suites.
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Starbucks Acquires Full Ownership of Starbucks Brazil
SAO PAULO--(BUSINESS WIRE)--Starbucks Corporation (NASDAQ:SBUX) announced today that it has assumed 100 percent ownership and operating control of Starbucks Brazil through the acquisition of Cafés Sereia do Brasil Participações S.A. Converting the market to a company-operated business allows Starbucks to focus on the enormous opportunity in Brazil through pursuing thoughtful growth while continuing to deliver unparalleled customer experience in the largest consumer market in South America.
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Extended-Stay Looks Up
The recession and business cost-cutting has hurt the hotel industry over the past two years—with one exception: extended-stay hotels.
As business travel tailed off in this market during the economic downturn, leisure travelers stepped in.
Occupancy in this part of the business rose 8.9% in July from a year earlier and demand was up 14.1%, according to data from hotel-industry research and consulting firm Smith Travel Research Inc.
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As business travel tailed off in this market during the economic downturn, leisure travelers stepped in.
Occupancy in this part of the business rose 8.9% in July from a year earlier and demand was up 14.1%, according to data from hotel-industry research and consulting firm Smith Travel Research Inc.
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Wednesday, August 18, 2010
Dubai Developer Questioned on $600 Million Indonesian Resort Development
Dubai-based Emaar Properties is denying reports that it is pulling out of a plan to develop a $600 million resort and residential project on the Indonesian island of Lombok.
In March 2008 Emaar signed a joint venture deal with the Bali Tourism Development Corporation to build the project, one of the first ventures into Indonesia by a Middle East developer. Emaar announced plans for a 1,200 hectare development, including a marina and golf course on the island, which is about 25 miles from Bali.
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In March 2008 Emaar signed a joint venture deal with the Bali Tourism Development Corporation to build the project, one of the first ventures into Indonesia by a Middle East developer. Emaar announced plans for a 1,200 hectare development, including a marina and golf course on the island, which is about 25 miles from Bali.
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Japan Hotelier Plans Tiny 640-Room Hotel in Queens, New York
Hotel rooms at $100 a night in metro New York? Forget it. But wait. Here comes scrabble-like named hotelier Toyoko Inn Co. The hotelier plans to build a 640-room tower in the Queens borough market of Long Island City.
The 200-square-foot rooms will have no frills, no nighttime chocolates on the pillow and will cost only $100 a night.
By comparison, the average size room in New York City is 325 feet and the average rate in the first half of this year was $209.42, according to Smith Travel Research.
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The 200-square-foot rooms will have no frills, no nighttime chocolates on the pillow and will cost only $100 a night.
By comparison, the average size room in New York City is 325 feet and the average rate in the first half of this year was $209.42, according to Smith Travel Research.
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Nazarian: Bringing L.A. To South Beach
Los Angeles hotel-and-nightclub entrepreneur Sam Nazarian finally is getting closer to debuting his hotel brand in South Beach, Fla., thanks to a $65 million recapitalization.
Mr. Nazarian, known mostly for his glitzy L.A. nightclubs like Area, MI-6 and Hyde Lounge, bought the 132-room former Ritz Plaza in 2004 with plans to convert it into a hot spot for the ultratrendy under his SLS hotel brand. But the review process took longer than expected, and then it was delayed by the recession.
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Mr. Nazarian, known mostly for his glitzy L.A. nightclubs like Area, MI-6 and Hyde Lounge, bought the 132-room former Ritz Plaza in 2004 with plans to convert it into a hot spot for the ultratrendy under his SLS hotel brand. But the review process took longer than expected, and then it was delayed by the recession.
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Hotel worker who stole $114,000 spared jail
A hotel worker who defrauded her employers of more than £76,000, which she "frittered away", has been spared jail.
Jill Calder was ordered to perform 300 hours of community service, having pleaded guilty to embezzling the money while working as a purchase ledger manager at North British Trust Hotels in Edinburgh.
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Jill Calder was ordered to perform 300 hours of community service, having pleaded guilty to embezzling the money while working as a purchase ledger manager at North British Trust Hotels in Edinburgh.
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Buffalo Wild Wings® Announces Canadian Expansion Plans
MINNEAPOLIS--(BUSINESS WIRE)--Buffalo Wild Wings® (NASDAQ: BWLD - News) today announced its intention to expand into the Canadian marketplace with a five-year plan that will see more than 50 company-owned and franchised restaurants open across the country. Southern Ontario will be home to the first two locations slated for spring 2011, including the corner of Taunten Road and Harmony Road in Oshawa, and a second location in Mississauga.
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Singapore Casinos Could Rival Las Vegas By 2012
SINGAPORE—Singapore's nascent casino sector could rival that of the Las Vegas strip in the next two years as Asian gamblers opt for the newer resorts closer to home over the traditional casino center.
Forecasters are already looking to upgrade their expectations for the industry following better-than-expected second-quarter results for Genting Singapore's Resorts World Sentosa, one of two casino-resorts in the city state.
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Forecasters are already looking to upgrade their expectations for the industry following better-than-expected second-quarter results for Genting Singapore's Resorts World Sentosa, one of two casino-resorts in the city state.
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Highland Hospitality explores bankruptcy
Financial woes at the 27-hotel chain, with holdings scattered from the Ritz-Carlton in downtown Atlanta to the Hilton Boston Back Bay, already have sparked maneuvering for control of Highland between JER Partners, Mr. Robert's private-equity firm, and some of the creditors that include Wells Fargo & Co., Barclays PLC, Prudential Financial Inc. and Ashford Hospitality Trust.
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Tuesday, August 17, 2010
Hilton signs up to manage two new hotels in Saudi capital
Riyadh: Hilton Worldwide has signed up to manage two new hotels in Riyadh, a city ranked high on the global hospitality performance scale.
"Hotel performance in KSA and Riyadh in particular fared very well during the first six months of 2010 relative to regional and global lodging markets. Deloitte's Global RevPAR rankings cite that Riyadh holds a third position just below Dubai and Geneva," Sven Gade, director and head of consulting at PKF, The Consulting House told Gulf News.
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"Hotel performance in KSA and Riyadh in particular fared very well during the first six months of 2010 relative to regional and global lodging markets. Deloitte's Global RevPAR rankings cite that Riyadh holds a third position just below Dubai and Geneva," Sven Gade, director and head of consulting at PKF, The Consulting House told Gulf News.
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New lawsuit filed in ‘Tropicana’ trademark dispute
The dispute over whether the Tropicana Las Vegas hotel-casino must pay royalties for using the "Tropicana" trademark is continuing, with investor Carl Icahn's Tropicana Entertainment Inc. filing a new lawsuit against the Las Vegas property over the issue last week.
The Las Vegas Tropicana formerly was part of Tropicana Entertainment LLC, which also had Tropicana-branded hotel-casinos in Atlantic City and Laughlin.
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The Las Vegas Tropicana formerly was part of Tropicana Entertainment LLC, which also had Tropicana-branded hotel-casinos in Atlantic City and Laughlin.
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Top 10 celebrity chef-owned restaurants in US
Chefs have become household names in recent years, helped by running their own TV shows or sharing their cooking tips with fans in glossy cookbooks.
Travel website TripAdvisor has compiled a list of the top 10 celebrity chef-owned restaurants in the United States to help travelers who want a few celebrity stars with their meals.
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Travel website TripAdvisor has compiled a list of the top 10 celebrity chef-owned restaurants in the United States to help travelers who want a few celebrity stars with their meals.
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ZAGAT FAST FOOD SURVEY RATES 136 MAJOR DINING CHAINS
New York, NY. August 16, 2010 – Looking to supersize yourself? This morning, Zagat revealed the results of its latest survey, covering 97 major fast food chains and 39 full service chains as voted on by 6,518 ZAGAT.com diners who ate at chain outlets on average 10.7 times per month. The survey respondents weighed in on everything from chicken and cheeseburgers to smoothies and seafood, separately rating each chain on the quality of its Food, Facilities and Service using Zagat's signature 30-point scale. A selection of the winners was announced live on The Today Show this morning.
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European Hotels Lure Investors as Properties Hold Their Value
Real-estate investors will spend more money buying hotels in Europe than the U.S. this year as slower development helps to preserve property values.
Hotel acquisitions in Europe will total about $5.5 billion in 2010, compared with $4.5 billion in the Americas, according to Jones Lang LaSalle Hotels. The U.S. will account for about 90 percent of purchases in the Americas, the London-based hotel investment-services firm said.
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Hotel acquisitions in Europe will total about $5.5 billion in 2010, compared with $4.5 billion in the Americas, according to Jones Lang LaSalle Hotels. The U.S. will account for about 90 percent of purchases in the Americas, the London-based hotel investment-services firm said.
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Foundation Inns sees pub profits soar
Outlet ebitda increased 56.1 per cent with sales up 22 per cent to £2.6m at the six-strong pub group. Like-for-like sales increased 12.9 per cent.
Despite this, the company still made a pre-tax loss of £540k, although this was an improvement on last year’s £1.75m loss.
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Despite this, the company still made a pre-tax loss of £540k, although this was an improvement on last year’s £1.75m loss.
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Restaurant Fined After Chef Caught Kissing Toad
Are Iowa chefs having trouble landing dates these days? If so, it may explain why one head chef was caught kissing toads by the Scott County Health Department. The restaurant has been fined $355 for the dangerous (and desperate) act, which was caught on video.
The owner of the Davenport, Iowa restaurant where the chef works has agreed to pay the fine, and promises to address the health risks associated with amphibian handling.
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The owner of the Davenport, Iowa restaurant where the chef works has agreed to pay the fine, and promises to address the health risks associated with amphibian handling.
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Monday, August 16, 2010
Judge upholds settlement in Quiznos class action
Four class-action lawsuits brought by disgruntled Quiznos Sub franchisees against the chain’s owners concluded Friday when a federal judge entered a ruling upholding the terms of a settlement valued at $206 million, according to court documents.
In upholding the terms of an initial settlement submitted last November by attorneys representing more than 8,000 current or former franchisees and Quiznos Franchise Co. LLC and related parties, Judge Rebecca R. Pallmeyer of the U.S. District Court in Chicago overruled the lone formal franchisee objection to the agreement
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In upholding the terms of an initial settlement submitted last November by attorneys representing more than 8,000 current or former franchisees and Quiznos Franchise Co. LLC and related parties, Judge Rebecca R. Pallmeyer of the U.S. District Court in Chicago overruled the lone formal franchisee objection to the agreement
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Sunstone Hotel Investors, Inc. Acquires the 409-room Royal Palm Hotel - Miami Beach
ALISO VIEJO, Calif., Aug 16, 2010 /PRNewswire via COMTEX/ -- Sunstone Hotel Investors, Inc. (the "Company") /quotes/comstock/13*!sho/quotes/nls/sho (SHO 9.42, +0.03, +0.32%) today announced that it was the successful bidder at a foreclosure auction and acquired the fee-simple interest in the Royal Palm (the "Hotel") located on Collins Avenue in Miami Beach, Florida. The gross purchase price for the Hotel was approximately $126.1 million before transaction costs. Prior to the auction, the Company purchased a portion of the outstanding debt at a discount to par resulting in an economic gross purchase price of approximately $117.0 million or approximately $286,000 per key.
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Starbucks to offer Premium Content on its WiFi
Starbucks is not just offering its customers free wi-fi on the hazy notion that if they spend more time surfing the Web they will drink more coffee. No, the ubiquitous coffee shop retailer has plans to debut the second piece to its digital strategy this fall, which offers a more clear monetization path for it and its partners.
Called the Digital Network, Starbucks intends to offer exclusive and premium content from such providers as Apple, the New York Times, the Wall Street Journal and health publisher Rodale.
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Called the Digital Network, Starbucks intends to offer exclusive and premium content from such providers as Apple, the New York Times, the Wall Street Journal and health publisher Rodale.
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Eateries go Cash Only to save fees
Cash is king at local restaurants and bars struggling with a tight economy and small profit margins.
To avoid paying credit-card fees and -- shhh -- maybe fudge income numbers for the tax collector -- some merchants are treating credit cards as if they aren't worth the recycled plastic they're made of. In those places, cold cash is the only way to buy a hot meal.
Those in the know say the trend is growing.
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To avoid paying credit-card fees and -- shhh -- maybe fudge income numbers for the tax collector -- some merchants are treating credit cards as if they aren't worth the recycled plastic they're made of. In those places, cold cash is the only way to buy a hot meal.
Those in the know say the trend is growing.
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Pinnacle casino site in Atlantic City may sell at 70 percent discount
ATLANTIC CITY — Call it a 70 percent off sale — on a casino site.
In Atlantic City’s topsy-turvy real estate market, casino land coveted only four years ago at the gaming industry’s pre-recession peak may now be sacrificed for a bargain-basement price.
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In Atlantic City’s topsy-turvy real estate market, casino land coveted only four years ago at the gaming industry’s pre-recession peak may now be sacrificed for a bargain-basement price.
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Station Casinos Announces Second Quarter Results
The Company's net revenues for the second quarter ending June 30, 2010, were approximately $233.6 million, a decrease of 12.6% compared to the prior year's second quarter. The Company reported Adjusted EBITDA for the quarter of $61.4 million, a decrease of 22.5% compared to the prior year's second quarter. For the second quarter, the Company reported a net loss of $69.6 million as compared to a net loss of $65.3 million in the prior year’s second quarter.
In connection with the Chapter 11 cases, the Company recorded net reorganization items of $37.9 million in the second quarter. These reorganization items represent professional fees and other costs incurred as a direct result of the Chapter 11 cases of $31.2 million, and adjustments of swap carrying values of $6.8 million.
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In connection with the Chapter 11 cases, the Company recorded net reorganization items of $37.9 million in the second quarter. These reorganization items represent professional fees and other costs incurred as a direct result of the Chapter 11 cases of $31.2 million, and adjustments of swap carrying values of $6.8 million.
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Bank of China beats local lenders to finance £100m luxury London hotel
The Bank of China has swooped to fund a landmark hotel in London's West End, in the latest sign that the capital has become the darling of Far East investment.
The Bank of China has agreed terms with the Splendid Hotel group to provide a £50m development loan to build a 254-room hotel near New Scotland Yard. The six-storey hotel, which will have a final value of at least £100m, will occupy the freehold site of the 19th-century former Queen Anne's Chambers.
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The Bank of China has agreed terms with the Splendid Hotel group to provide a £50m development loan to build a 254-room hotel near New Scotland Yard. The six-storey hotel, which will have a final value of at least £100m, will occupy the freehold site of the 19th-century former Queen Anne's Chambers.
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Two Scottish hotels for sale as PAG Hotels falls into administration
Following the news that PAG Hotels has been placed into administration by KPMG, two of its hotels are up for sale as fully operational businesses.
The 12-bedroom Castle Venlaw Hotel on the outskirts of Peebles has been put onto the market for offers over £795,000. The hotel, which first opened in 1949, was bought in September 2007 by PAG.
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The 12-bedroom Castle Venlaw Hotel on the outskirts of Peebles has been put onto the market for offers over £795,000. The hotel, which first opened in 1949, was bought in September 2007 by PAG.
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High Tech Hotels: theWit Doubletree, Chicago
Even in a city known for its architecture, theWit Doubletree in Chicago, Illinois stands out, thanks in no small part to the neon green lightning bolt down the exterior facade. It is a design element that boldly proclaims something even more interesting is going on inside. Indeed, theWit is one of the most technologically advanced hotels in the world.
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How hotel guests can battle bedbugs
Experts say bedbugs can be found almost anywhere. Even the nicest hotels can become infested with the critters, which can go undetected for months because guests only stay for short periods. They advise the following precautions for hotel guests:
• Take sheets and blankets off the bed and inspect the mattress. If there are any brown or red spots, they might be blood or excrement from bedbugs.
• Look behind picture frames and around furniture. Bedbugs like small, dark crevices often found in wood.
• Don't place luggage on the floor or near a bed. Hotels often provide luggage racks and hangers.
• Wash all clothing after a trip. Hot water will usually kill any bedbugs.
• Take sheets and blankets off the bed and inspect the mattress. If there are any brown or red spots, they might be blood or excrement from bedbugs.
• Look behind picture frames and around furniture. Bedbugs like small, dark crevices often found in wood.
• Don't place luggage on the floor or near a bed. Hotels often provide luggage racks and hangers.
• Wash all clothing after a trip. Hot water will usually kill any bedbugs.
Sunday, August 15, 2010
Marriott, Le Meridien, W Hotels Will Add Rooms in Taiwan
Marriott International Inc., the largest U.S. lodging chain, and other groups including Le Meridien and W Hotels, plan to open their first hotels in Taiwan as they compete to cater for rising numbers of Chinese tourists.
Marriott is working with Taiwanese businessman B. V. Riu, owner of Taipei-based luxury hotel Sherwood, on a NT$6.2 billion ($195 million), 352-room lodging franchise agreement, Victor Chou, president of Sherwood, said. Le Meridien and W Hotels, both owned by Starwood Hotels & Resorts Worldwide Inc., also plan to open premises in the city this year.
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Marriott is working with Taiwanese businessman B. V. Riu, owner of Taipei-based luxury hotel Sherwood, on a NT$6.2 billion ($195 million), 352-room lodging franchise agreement, Victor Chou, president of Sherwood, said. Le Meridien and W Hotels, both owned by Starwood Hotels & Resorts Worldwide Inc., also plan to open premises in the city this year.
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Not just a Hotel problem - Bed Bugs at Time Warner Center in New York
TVNewser has learned the human resources department of TBS Inc. has sent out an email this afternoon alerting staffers of a bed bug problem in their New York City offices at Time Warner Center -- home to CNN, CNNMoney.com and other Time Warner entities.
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World's First Hooters Restaurant at an Airport Opens at Frankfurt Airport
FRANKFURT, August 11, 2010 /PRNewswire-FirstCall/ -- Hooters American Restaurant and Sportsbar opened its first airport location at Frankfurt Airport today. Entrepreneurs, Manfred Metzger and Bastian Klink, both from Karlsruhe, Germany, are the owners and managers of the new franchise operation of the famous American Hooters restaurant chain. Metzger and Klink said, "Hooters Frankfurt Airport will cater to passengers, the general public as well as the more than 70,000 staff working at Frankfurt Airport. We offer good food, fun and service, service, service. Our motto is Hooters makes you happy."
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Taco Bell eyed as CDC looks into salmonella outbreak
The outbreaks of two distinct salmonella pathogens appear to have subsided since peaking in June, although some cases may not have been reported yet, the U.S. Centers for Disease Control said this week. No deaths have been reported.
The CDC identified the chain merely as “Mexican-style fast food,” but William E. Keene, senior epidemiologist for the state of Oregon and an investigator on the case, said the chain was Taco Bell, part of Louisville-based Yum! Brands.
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The CDC identified the chain merely as “Mexican-style fast food,” but William E. Keene, senior epidemiologist for the state of Oregon and an investigator on the case, said the chain was Taco Bell, part of Louisville-based Yum! Brands.
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Why KFC Franchisees Are Squawking
Marilynn Pankratz fondly recalls the time Colonel Sanders donned an apron at her Kentucky Fried Chicken restaurant and taught the staff how to fry chicken according to his Original Recipe. Ask her if KFC's current president, Roger Eaton, would do the same, and she's off: "Roger Eaton and his company don't give a rat's ass," says Pankratz, who has run KFC franchises since 1963 and operates eight in Florida and Louisiana. "They hire marketing guys with blue blazers who tell us what to do with our damn stores. But it's one thing to be behind the big mahogany desk calling the shots and another to be down here in the trenches."
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Tim Hortons Inc. Announces 2010 Second Quarter Results:
Quarterly Highlights
Significant sales growth in Canada and strong performance in the U.S.
o Systemwide sales(2) grew 9.2% on a constant currency basis
o 6.4% increase in same-store sales in Canada
o 3.1% increase in same-store sales in the U.S.
Strong consolidated operating income gain of 16.1% with solid contributions from both
Canadian and U.S. segments
EPS growth of 25.2% in second quarter
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Significant sales growth in Canada and strong performance in the U.S.
o Systemwide sales(2) grew 9.2% on a constant currency basis
o 6.4% increase in same-store sales in Canada
o 3.1% increase in same-store sales in the U.S.
Strong consolidated operating income gain of 16.1% with solid contributions from both
Canadian and U.S. segments
EPS growth of 25.2% in second quarter
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Wynn dealers appeal ruling over tip sharing
As expected, Wynn casino dealers have appealed to overturn Nevada Labor Commissioner Michael Tanchek’s July ruling declaring that Steve Wynn can legally force dealers to share tips with supervisors.
Attorneys for the dealers filed a petition for judicial review with the Clark County District Court on Tuesday.
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Attorneys for the dealers filed a petition for judicial review with the Clark County District Court on Tuesday.
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Why causing big debt has not cost Fertittas control of Station Casinos
The Fertitta family may well end up running the Station Casinos empire it founded, even after putting more than $6 billion in debt onto the company in 2007 as the economy worsened and sending it into bankruptcy.
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Paris' "magnificent seven" hotels see return of the super-rich
The top Paris hotels have long regarded themselves as a leading indicator of the financial health of the world's estimated 10 million millionaires, and in 2008, after the start of the world banking crisis, they feared the worst as occupancy slumped, with some suites standing empty for days at a time. Even the super-wealthy contented themselves with an "ordinary" room at the Ritz or George V at about €700 (£575) a night.
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Sol Melia opens in Atalnta
A Spanish hospitality firm that is a major player in Europe, Latin America and the Caribbean plans to put its first U.S. flag in Atlanta.
Sol Meliá Hotels & Resorts will take over the management and flag of the 502-room Renaissance Atlanta Hotel Downtown.
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Sol Meliá Hotels & Resorts will take over the management and flag of the 502-room Renaissance Atlanta Hotel Downtown.
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Marriott International announces leadership positions for Asia Pacific, Middle East and Africa
Marriott International has announced further steps in the company's global strategy to establish continental divisions in Asia Pacific and the Middle East and Africa with two key leadership appointments. Simon F. Cooper has been named President & Managing Director, Asia Pacific, and will be responsible for leading the operating performance and growth of the region which includes more than 130 properties and 70 hotels under development represented by The Ritz-Carlton, JW Marriott, Marriott, Renaissance, Courtyard and Marriott Executive Apartments brands.
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Red Robin Gourmet Burgers Reports Earnings for the Fiscal Second Quarter 2010
Financial and Operational Results
Results for the 12 weeks ended July 11, 2010, compared to the 12 weeks ended July 12, 2009, are as follows:
Restaurant revenue of $198.0 million was unchanged from the prior year.
Company-owned comparable restaurant sales decreased 1.2% and guest counts increased 0.9%. Restaurant-level operating profit decreased 7.0% to $36.2 million.
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Results for the 12 weeks ended July 11, 2010, compared to the 12 weeks ended July 12, 2009, are as follows:
Restaurant revenue of $198.0 million was unchanged from the prior year.
Company-owned comparable restaurant sales decreased 1.2% and guest counts increased 0.9%. Restaurant-level operating profit decreased 7.0% to $36.2 million.
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Ark Restaurants Announces Financial Results for the Third Quarter 2010
NEW YORK, New York -- August 13, 2010 -- Ark Restaurants Corp. (NASDAQ:ARKR) today reported financial results for the third quarter and nine month periods ended July 3, 2010.
Total revenues for the three month period ended July 3, 2010 were $35.2 million versus $31.1 million in the same period last year. Total revenues for the nine month period ended July 3, 2010 were $85.9 million versus $81.7 million in the same period last year.
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Total revenues for the three month period ended July 3, 2010 were $35.2 million versus $31.1 million in the same period last year. Total revenues for the nine month period ended July 3, 2010 were $85.9 million versus $81.7 million in the same period last year.
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J. Alexander annonces results for second quarter 2010
• Net sales increased 4.7% to $36,336,000 from $34,710,000.
● Average weekly same store sales per restaurant advanced 4.7%.
• The loss before income taxes was $357,000 compared to a loss before income taxes of $1,431,000 in the second quarter of 2009.
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● Average weekly same store sales per restaurant advanced 4.7%.
• The loss before income taxes was $357,000 compared to a loss before income taxes of $1,431,000 in the second quarter of 2009.
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Sbarro, Inc. Announces Results of Operations for the Second Quarter and Six Months Ended June 27, 2010
MELVILLE, N.Y.--(BUSINESS WIRE)--Sbarro, Inc. (the “Company”) announced results of operations for the second quarter and six months ended June 27, 2010. The Company’s detailed results are included in its Quarterly Report on Form 10-Q, which was filed with the SEC on August 11, 2010. Second Quarter Financial Results Revenues were $76.1 million for the quarter ended June 27, 2010 as compared to revenues of $80.1 million for the quarter ended June 28, 2009.
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